Ah, the “Internet of Things”.
The term has been circling many industries for years now, however the Internet of Things (IoT) is no longer a “buzzword”. This rising technology is completely disrupting the retail petroleum landscape.
So, how exactly does IoT fit into retail petroleum?
IoT essentially collects data from individual devices then securely messages sensory data to cloud-based platforms. That way, you no longer need to reconcile data from multiple sources. With the IoT, you only need to refer to one source to receive the most accurate, up-to-date data across multiple fuel sites.
With IoT, you have complete control and visibility across the entire operation of multiple fuel sites.
But what does this have to do with retail petroleum?
A fuel site is like an ecosystem – many things connect to other things. However, rarely are these things integrated. They are more often proprietary, causing big gaps in data – and that becomes your business’s blind spot.
For fuel sites of every size and stature, having complete, clear visibility over your entire operation is crucial to ensuring that you are protected and compliant.
If you don’t, you can’t see the problems — so you have no idea that they’re occurring.
Before easy access through IoT, this was a major problem for smaller operations. They often had a limited view of their network and were forced to make crucial business decisions based on old and inaccurate data.
For larger retailers, their lack of visibility was more complex. Over the last decade, major oil companies have invested heavily in wetstock management software in order to improve their operations. These technologies gave them insight into certain areas of their operation. However, they weren’t able to leverage that data because the technology wasn’t integrated.
Regaining visibility with Fuelsuite
Last year, EMS partnered with the industry-leading software developers, DiUS, to collaborate on the creation of Fuelsuite – our cloud-based wetstock management system. Fuelsuite uses Fuelscan, an IoT Edge solution built on Amazon Web Services technology, to connect all systems together. This includes non-fuel system things such as refrigerators, building management and pie machines.
With Fuelsuite, we were able to revolutionise remote wetstock management for Shell’s largest Australian wholesaler, Viva Energy.
To run a fuel site efficiently, site owners and managers need to be making informed decisions based on accurate, up-to-date data.
Rather than relying on dated, day-old data, Fuelsuite uses IoT to display real-time fuel site data at your fingertips.
With Fuelsuite, getting access to real-time inventory information (rather than stockpiling it) allows fuel site managers to make quick, well-informed purchasing decisions. This gives you more control over your inventory logistics.
In addition, your whole team gets immediate, real-time alerts when something has gone wrong. You have the ability to pounce on a minor tank leak and resolve it swiftly, stopping it from becoming a hazardous, and costly, catastrophe in the future.
How Fuelsuite disrupted retail petroleum using the IoT
Since going live with Fuelsuite last year, we’ve rolled out the application to over 1300 fuel sites across Australia. And the results have exceeded all expectations.
Customers who have signed up with Fuelsuite have reported an average 200% return on investment. This is due to their improved ability to monitor, manage and enforce compliance across multiple fuel sites.
Every one of these customers started with a pilot of Fuelsuite, which they could operate for up to three months before the trial ended.
And the result?
Every customer who trialled the Fuelsuite pilot signed up the full system.
By utilising Amazon Web Services IoT technology, Fuelsuite has given fuel retailers complete access to all areas of their business with real-time data. They are now able to be introduced to problems, facets and data that they didn’t even know existed.
But you don’t need to take our word for it.
The positive disruption Fuelsuite has brought upon the retail petroleum industry has been significant. It has even led to our winning of the 2018 CRN Impact Award for Digital Transformation and the 2018 Australian IoT Award.
With IoT, monitoring and managing multiple, remote fuel sites can be as easy as reading an email on your phone. The ability to access real-time data at a site level, and aggregate that data across multiple, complex systems, is beneficial to all fleet wetstock managers. It reduces the likelihood of reconciliation error, improves management of wetstock logistics, and ensures that your fuel sites are safe and compliant.
If you’re interested in trialling Fuelsuite for yourself, get in touch with EMS today to organise a pilot. Or, if you want more information on the features and benefits of Fuelsuite, download your free ebook here.