We noticed that information about IIS FuelsPricing market share had been published in an official stock market admission document by one of our competitors, as part of their AIM placement. Stated market shares were seriously incorrect; the industry overview on pricing systems was generally sound.
IIS FuelsPricing was represented as pricing a mere 169 sites out of the global 500,000 sites, and the sites identfied were in Europe.
The true IIS pricing sites figures are: IIS prices more than 30,000 sites in more than 50 countries.
This diagram illustrates the incorrect and correct IIS FuelsPricing market shares as at Y/E 2013.
The diagram clearly demonstrates the size of the overall opportunity in terms of replacement of in-house solutions (largely Excel-based). What is also clear is that, in pricing in excess of 30,000 sites, IIS FuelsPricing is a major force in the market. IIS FuelsPricing has had for many years a truly global customer base with major customers in the Americas (USA, Canada, Brazil, Argentina, Chile), APAC (Japan, Malaysia, Singapore, Australia, New Zealand) and Europe (UK, France, Germany, Italy, Norway). Recent wins have typically been the result of competitive evaluations, where IIS has replaced competitors, 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 retailers need to be aware of their solutions choices, and the focus and relative strengths of the prospective suppliers. We welcome competition, as we believe customers benefit, but we expect more care to be taken in the dissemination of market information in future.
What these figures don't show, with a pure retail focus on gas stations, is the strength of the FuelsPricing offering in the Wholesale/B2B sector. Our solutions price well over 50,000 wholesale end customers in all areas of the fuel trade around the globe.
We see FuelsPricing's capability to truly deliver solutions across both retail and wholesale fuels as a unique and compelling proposition. Our view, which is shared by the Board and it advisors, is based on IIS's market share, global customer base, world-class experience, which are all founded in the trusted product developments. The future is very bright for FuelsPricing.
We are certain that the increased awareness that our sales and marketing investment is generating, together with the continued referrals of satisfied customers, will result in additional customers who will enjoy the benefits of FuelsPricing. As markets change, and as new markets emerge, IIS FuelsPricing is very well placed to help customers meet their challenges.
... the combination of the experience, knowledge and solutions can produce what customers need to compete in a changing market place. This partnership can help us deliver our vision for clients ...