The diagram above clearly demonstrates the size of the overall opportunity in terms of replacement of in-house solutions (largely Excel based). What is also clear in 2014 where we are now pricing in excess of 30,000 sites that IIS with FuelsPricing.com is a force in the market. IIS FuelsPricing.com has had for many years a truly global customer base with major customers in the Americas (USA, Canada, Brazil, Argentina, Chile etc), Far East (Japan, Malaysia, Singapore, Australia, New Zealand etc) and Europe (UK, France, Germany, Italy, Norway etc) all contributing to the software for numerous years. Recent wins have typically been in competitive evaluations or where we have replaced competitor offerings and it's clear that the trajectory of our customer count is good.
The business challenges that Fuels Retailers face in the coming years means that many of the in-house systems will need replacement and/or significant investment so those retailers need to be aware of the choices for solutions and strength of the companies that there are in the market. We welcome competition as we believe customers benefit and trust that more care with market information will take place in future.
What these figures, with a pure retail focus on gas stations, don't show is the strength of the FuelsPricing.com offering in the Wholesale/B2B area. Our solutions price well over 50,000 wholesale end customers in all areas of the Fuel trade around the globe.
We see FuelsPricing.com capability to truly deliver solutions across both retail and wholesale fuels as a unique and compelling offering. Our view and those shared by our board and advisor's is that based on the current market share, our global customer base and world class experience aligned with the latest product developments is that the future is indeed very bright for the FuelsPricing.com offerings.
We are absolutely sure that the increased awareness that our sales and marketing investment is generating will result in additional customers enjoying the benefits of FuelsPricing.com