insights

Fuel Reconciliation

Russell Dupuy 27 Feb 2018 By Russell Dupuy

Fuel Reconciliation: Get an A+ on your SIR Report

How do you protect your fuel site from product lost?

Normally, your Statistical Inventory Reconciliation (SIR) report is your best line of defence against fuel leaks and costly maintenance issues.

But without precise fuel reconciliation data, you cannot confirm the accuracy of the SIR analysis report. This leaves your fuel site vulnerable to critical error and loss.

The risks of taking a “blind” approach to fuel reconciliation

Fuel reconciliation is a manual effort. It involves fuel site operators recording their tank dips consistently, tallying fuel sales accurately, and then following up on unusual variances.

In last month’s blog, we discussed the potential consequences of inefficient fuel inventory measurement methods. Similar to the dipstick method, the process of manually collecting and entering fuel reconciliation data is rife with human and transactional error.

SIR analysis is designed to pick up on fuel variances. So if your fuel reconciliation data isn’t accurate, then the SIR analysis is going to report your status as ‘failed’ or ‘inconclusive’ — neither of which look favourable to the EPA during a compliance audit.

Despite this, there are still many fuel site managers and owners who disregard the status of their tanks and fail to follow up on reported variances. They think that the worst-case scenario “will never happen to me” because, at face value, the fuel system is running fine.

Reconciliation is a critical process in the management of fuel sites. And that’s not just because it protects the organisation’s bottom line, but because it detects problems in your site that could lead to more sinister and expensive problems later on, including;

  • Faulty equipment in the petrol pumps (which could over or under dispense fuel);
  • Fuel theft;
  • Inconclusive transactional data; and
  • Leaks in the tanks or lines.

So without accurate fuel reconciliation data, your SIR Report cannot identify the areas that require immediate attention — which means you are effectively running your business blindly.

Regain visibility over your operation with accurate fuel reconciliation data

Knowing exactly what’s going on in your tank is invaluable to business success.

Switching to a digital fuel data reconciliation solution can optimise your SIR results to give you the best possible outcome. By identifying variances early, you can more efficiently investigate and resolve issues in your tanks. And with an accurate fuel reconciliation solution, a passing tank means you can avoid wasting time and money on unnecessary investigations – instead, rest easy knowing that your fuel site is safe and secure.

A digital fuel data reconciliation process will also keep your fuel site protected from leakages, equipment faults and fuel loss. It provides:

  • Automated fuel reconciliation in real time across multiple sites;
  • Reconciliation at a transactional level, resulting in more accurate analysis; and
  • Faster detection of fuel variances, allowing for possible leaks and mechanical issues to be resolved as soon as possible.

Get an A+ on your SIR Report with Fuelsuite

Fuelsuite is an innovative remote wetstock management solution. It allows you to access critical data in real-time from multiple sites on a single device.

Fuelsuite reconciles fuel by every transaction, for every tank, as they happen. Because of this, the analysis is highly accurate and removes any uncertainties in the reconciliation process.

That means that Fuelsuite can pick up on variances immediately,  and detect where the variance occurred.

By managing fuel reconciliation at a transaction level, Fuelsuite determines the flow rate of fuel as it is being pumped from the hose.

What does that mean?

It means you’ll have complete visibility over all your pumps. So not only will you know when you’ve got a pump that’s not performing, but you’ll know which pump is experiencing the problem.

This saves hours of time troubleshooting equipment to find the error.

Most importantly, by reconciling fuel at a transactional level, you can ensure that the data entered into your SIR report is based on accurate, real-time information, increasing the likelihood of a passing SIR report.

Ultimately, Fuelsuite can save your business significant time and money. To improve fuel reconciliation across all of your fuel sites, contact EMS today.