A shift towards SaaS 

There are vendors that will help companies do just about everything these days. From compliance management and fuel reconciliation to ATG alarm management and tank monitoring, retailers around the world are outsourcing services to third-party vendors to streamline their processes. But what if there’s a more efficient way to manage these services without having to relinquish control over your data? 

That’s where Software as a Service, or SaaS, platforms come in. These solutions allow retailers to manage their work in the cloud, access it anywhere, and receive regular software updates. We’re seeing a huge industry shift to these solutions from third-party managed services as companies automate processes that used to require large teams of experts. Moving onto one SaaS platform isn’t just more efficient, but it also gives greater data visibility, reduces costs, and provides more security. 

One single source of truth 

As convenience retailers have invested more heavily in technology, many have found themselves with multiple vendors per project or business function. Not only is it tedious to have multiple platforms, but many managed services platforms don’t speak to each other, keeping your data siloed. With comprehensive SaaS solutions, retailers can integrate their internal systems for company-wide visibility into data and processes. With all your data in one place, it’s easy to identify inefficiencies or warning signs that were once concealed between gaps in service platforms and providers. With all the consolidation happening, it’s more important now than ever to maximize technology efficiencies by streamlining your services on one single source of truth.  

Stretch your budget 

Large retailers cite many reasons for moving from managed services to SaaS solutions, but cost efficiency is always one of them. Managed services can cost more than $100 per site per month, and if you have multiple vendors and hundreds of sites…well you get the picture. While the original intent might have been to outsource services to save on staffing costs, the truth is that consolidation of services to one platform is often the most cost-effective option.  

If you’re a smaller retailer with fewer sites, then managed services may be the cheaper option, but you should run the numbers for yourself. Hiring someone to head up the services in-house may still be cheaper than outsourcing your services, especially if you move to a SaaS platform with support teams available that can alleviate work for internal teams. Regardless, smaller retailers will have to decide which choice is most cost effective for their company, and if a lower price for managed services is worth the risks.  

Be Prepared 

Everyone’s heard about the recent cyber-attacks on businesses large and small, including breaches at Colonial Pipeline and JBS. No one is immune from these hacking attempts (not even the ferry to Martha’s Vineyard) so once-cautious retailers are being urged by internal IT departments to adopt more secure platforms for their data. As cyberattacks become more prevalent, retailers are eager to eliminate any vulnerabilities in their processes starting with availability of their data. 

By moving to SaaS solutions, retailers can eliminate multiple logins by third parties, which introduces a higher risk for human error. Removing any unnecessary vulnerabilities such as this can increase security over customer and payment systems data. When it comes to cybersecurity, the best way to mitigate risk is by consolidating the number of platforms and companies that have access to your data. 

Going the distance 

When faced with a lack of forecourt visibility, cost inefficiencies, and the threat of a cybersecurity attack, retailers need to make changes to how they manage their sites and forecourt data. By switching to a SaaS platform, you can take control of your data, allowing you to streamline your processes and save money too. And if you work with a company like Titan Cloud, you won’t have to make these changes alone and can get the support you need to make a seamless transition.  

Interested in learning more about SaaS solutions? 

Contact us.

Eric Nordstrom

Senior Director of Customer Success

Eric has 20+ years of experience in customer success roles and has been in the fuel industry since 2009. Eric’s main focus is to lead a positive customer journey, drive growth, and keep customer retention levels high.

After a challenging year of unexpected changes and adaptations, many are looking forward to a fresh start in 2021. As retailers are thinking about long-term goals and top priorities, here are a few resolutions every c-store owner and operator should make: 

1. Become EMV Compliant 

EMV compliance has been a hot topic for years as major credit card companies insist retailers upgrade their point-of-sale (POS) systems to use chip readers or take on the fraud liability themselves. The deadline to comply has been extended to April 1, 2021 after key industry players voiced concerns over the impact of COVID-19 on retailers. A Conexxus survey conducted in June 2020 showed that only 15% of retailers were fully EMV compliant with most retailers lagging in upgrading their outdoor POS systems due to cost and complexity. With the April deadline rapidly approaching, EMV compliance should be priority number one.  

2. Stay on Top of Technology Trends 

The pandemic forced c-stores to quickly adopt new technologies to keep up with changing regulations and customer needs. CSNews’ Technology Report shows that almost 75% of retailers increased their technology spend from 2019 to 2020, driven in large part by EMV compliance, but also by the need for greater business intelligence and reporting capabilities as well as better store-level inventory management. To jump start 2021, owners and operators should seek software that can organize forecourt data to help them make better business decisions and drive greater profitability. Even though a pandemic accelerated this technology evolution, customers expect an upgraded experience, and you don’t want to fall behind the competition.  

3. Move on from Manual Compliance 

In the wake of ongoing challenges and the strain COVID-19 has put on the convenience store industry, many retailers have a long list of to-dos and may be facing budget reductions. That’s why retailers should focus on investments that can free-up cash reserves, such as switching to a digital compliance solution. Not only will environmental compliance solutions streamline processes and allow employees to access data and documents remotely, but Titan Cloud’s compliance solution decreases fuel releases and remediation by 80%, so users can reallocate their environmental reserves for other important projects. Make 2021 the year you commit to a faster, more reliable compliance process.  

4. Migrate to Mobile 

Mobile apps dominated the industry last year as many retailers created or updated them to include online ordering, delivery, and customer loyalty programs to meet changing customer needs throughout the pandemic. With many customers still wary of venturing indoors, a mobile app offers socially-distanced options to make your customer feel more comfortable visiting your store and facilities, which makes it well worth the investment. Adding a customer loyalty program can also be a great way to attract customers with promotions and retain them with reward programs. Regardless of where you are in the mobile app journey, this is the year to use it to the fullest. 

5. Finally Take Control of Wetstock Management  

2020 was the year of frictionless: painless shopping, easy mobile payment, and streamlined fueling at the pump. Continue this trend in 2021 by offering a frictionless fueling experience with Titan Cloud’s Frictionless Fueling. This comprehensive wetstock management solution helps you reduce runouts, nozzle unavailability, and slow flow – three things that can damage brand reputation and push loyal customers to competitors. Upgrade your wetstock management program this year, so you can offer a customer experience that’s truly frictionless.  

Looking for Solutions to Help with These Resolutions?

Contact one of our specialists to help find solutions to support your goals.

Brent Puzak

VP of Solutions Consulting

Brent brings 25 years' industry experience to Titan Cloud as the Vice President of Solutions Consulting. He led environmental shared services for a global retail chain with over 9,000 locations, moving through numerous leadership positions. Brent's diverse background and knowledge allows him to take a strategic approach to addressing complex industry challenges.

Leaders in the convenience store industry have always turned to technology that helps maximize revenue. But in a year like 2020, software solutions that provide high returns are vital to continuing operations. That’s why Titan Cloud focuses on creating software that helps users manage their business more efficiently for a greater return on their software investment. Titan offers a range of solutions for environmental compliance, wetstock management and facility maintenance, but the shortest and easiest path to a great ROI is with Titan’s tank shutdown analytics.  

While flow rate, nozzle downs, and inventory management are all important, if a tank is shut down, it’s not pumping fuel. If the tank isn’t pumping fuel, then there are zero fuel sales and your customer leaves the site. Minimizing tank shutdown events requires a focus on reducing both the duration and frequency of shutdowns. Reducing the frequency, in particular, has an enormous impact. We have learned from our customers that sub-optimal ATG configuration drives most preventable shutdown events. Fortunately, Titan has the most advanced ATG configuration tools on the market. 

One primary example of the negative impact of tank shutdowns comes from a customer who implemented Titan Cloud software because their tanks were frequently shut down due to groundwater alarms. Even though the alarms were only for the diesel pump, it was shutting down all the tanks for the entire facility and not allowing any fuel movement. Across all of their facilities, this meant this retailer lost sales of about $550,000 on more than 240,000 gallons of fuel per month. 

Right away, Titan identified the configuration issues and corrected the gauge programming so that only the pumps that were impacted would shut down and so that other fuel sales could continue. In just one month of using Titan solutions, our customer went from losing fuel sales of more than 240,000 gallons to less than 60,000 gallons, and after four months had reduced their average loss by more than 83%.  

It can be easy for owners and operators to think their ATG programming is “good enough,” but without optimizing ATG and alarm configurations, convenience stores can lose out on thousands or even millions of dollars in sales. That’s why Titan Cloud’s software help users identify inefficiencies and streamline store processes, so owners and operators can become more profitable and get a greater return on their software investment. While there are still plenty of opportunities to increase fuel sales by optimizing flow rate, inventory variance, and other aspects of the customer fueling experience, operators must first minimize tank shutdowns or else there is no fuel to sell.  

Want to learn more about how to optimize your fuel program for greater profitability? 

Get in touch with one of our specialists, so you can start generating a greater ROI today. 

Paul Lauinger

VP of Solutions Consulting

Paul has over 25 years of global presales leadership experience and has a proven track record of building high-performing, scalable Solution Consulting teams that have advanced strategic, value-based selling skills.

To care about wetstock management is to care about saving—and making—money. If you buy or sell fuel, wetstock management is required to ensure that you receive and dispense the amount of fuel you paid for. Good wetstock management helps companies keep track of their fuel inventory so they can detect fuel losses when they occur and use their resources efficiently.  

Every fuel retailer has a process to manage fuel inventory, as fuel is by far the largest expense an operator incurs. As with other commonly used industry terms such as inventory management or inventory reconciliation, wetstock management is a global term that attempts to address all potential sources of variance including tanks charts, meters, deliveries, temperature, theft, and leaks. Technology can help.  

Many convenience store operators have a wetstock management process in place, but it comes in the form of massive spreadsheets and error-prone manual entries. Since most local regulators require accurate and timely fuel reports, automating your wetstock management process is vital for day-to-day forecourt operations. Without an accurate and dependable process using scalable technology, owners and operators are exposing themselves to enormous risk.  

Replacing manual wetstock management processes with an intelligent software solution (such as Titan Cloud’s Frictionless Fueling) gives c-store operators greater visibility into their fuel movements, so they can account for every drop of fuel purchased. Fuel management software minimizes inefficiencies caused by slow fuel dispensing, over dispensing, and shortages for a better customer experience and greater profits. After implementing Frictionless Fueling, one Titan customer found that they reduced inventory variance significantly, reduced acceptable delivery variances by 60%, and increased fuel sales by 3% per site. Focusing on wetstock management is a critical part of any convenience store’s path to greater profitability, so get started on improving your system right away.  

If you’re ready to improve your wetstock management, get in touch with our team.

Brent Puzak

VP of Solutions Consulting

Brent brings 25 years' industry experience to Titan Cloud as the Vice President of Solutions Consulting. He led environmental shared services for a global retail chain with over 9,000 locations, moving through numerous leadership positions. Brent's diverse background and knowledge allows him to take a strategic approach to addressing complex industry challenges.