We have hands-on experience of working with pricing teams in every fuels market in the world. Our customers get maximum value from pricing solutions that global business experience and modern technology. FuelsPricing delivers a configurable application that is highly adaptable to the prevailing market conditions in your chain or region.
The downstream fuels marketplace is changing, as global markets mature and become increasingly volatile, and as regulatory compliance plays an increasing role in market conditions. Alongside these changing market dynamics, many Oil Majors are divesting assets, either entire markets or moving to a branded wholesaler operation, so ownership structure is changing.
Historically, Oil Majors provided some degree of price support in the marketplace for Dealers, which is no longer always the case.
Today. the site operator needs to be able to understand the true operating margin, how the site compares to competing sites, both in terms of its qualitative offer (Location, Operation, Facility, etc) and its price position.
In many markets there is volatility in supply prices coupled with frequent price changes (in some markets as many as 4 or 5 a day) and significant promotional activity.
The end result is that, in order to compete effectively in the marketplace, Fuel Retailers have to be able to monitor competitor prices frequently and have effective pricing strategies in place that maximise competitive and strategic potential.
The burden on the pricing function in today's fuels market has become huge. The volume of information, the pace of change and external demands are all increasing.
Increasing Pricing Efficiency is absolutely vital to achieve a "true battle hardened result", so it's critical have to have a proven pricing system in place.
An effective pricing system needs Automation at every point; seamless multii-stream data collection; fast decision making functionality with all relevant data points available to review; and rapid communication of price decisions to the field (in seconds and minutes, not hours or days). Automation has to be underpinned by security, audit trails and controls, as well as proper integration into the myriad connecting systems, at site locations and head office.
As recently as 2013, a survey suggested that the majority of the 500,000 sites around the world are priced via a spreadsheet, with only 25% of global sites priced using a formal pricing system. Having replaced thousands of spreadheet solutions in the past 20 years, our experience bears out the survey findings.
In pricing efficiency terms, replacing spreadsheet systems immediately improves pricing efficiency by an order of magnitude. A move away from spreadheets significantly reduces the number of analysts required to operate effectively; and, more importantly, enables businesses to improve their pricing process. A wealth of actionable information becomes available to the business to facilitate strategic review and enhance performance monitoring.
Our customers can a adopt a a forensic approach to price volume optimisation and market analysis, which leads to improved margins.
Fuel retailers around the world constantly review their pricing systems and look for ways to improve insight and efficiency. There is a constant imperative to compete better and generate returns in a changing marketplace.
Progressive organisations understand that spreadsheets and internal systems can't help them, and may hamper them, when it comes to meeting their optimization objectives.
FuelsPricing has worked in every type of market in the world, including:
In the process we have encountered:
We have also had to cater for many different types of back office integration calculation for Tank Wagon Price Calculations, Stock Value Loss Compensation to Automated Price Response Credit/Loss payments (change the price within 15 minutes of price change and if the site didn't the system an automatic payment for the volume at the incorrect price was raised - in Scandinavia).
As a result of our wide experience, by region and systems requirement, we are uniquely equipped deal with a changing marketplace. We have helped customers to confront and overcome complex prices challenges. Our system is designed to be highly configurable and to adapt pricisely to your market and needs.
Fuels Retailers have pricing systems options. There are 3 main vendors - FuelsPricing, Kalibrate (KSS) and Price Advantage - that offer packaged solutions that focus on fuels pricing.
Our invitation and message to customers is to delve deep into the product capability and assess the experience of the people delivering your solution. Take time truly to understand the level of automation, integration and adaptability of the system proposed to deliver pricing efficiency.
Absolutely demand that world-class Analytics sits a the heart of the proposed system. Triple check that you are confident in the data science that recommends or sets your pricing, in the way that you operate, as without data confidence you are pricing blind.
Make your assessment and, like our customers who moved away from spreadsheets, or who conducted product evaluations and moved away from competitors, make the right choice and and contact FuelsPricing.
With its proven track record in the retail petrol industry, the package was chosen to work in real time and integrate with our existing systems.
Petrogas Global - Annual Report