With more than 20 offices in 13 countries, this company is one of the world’s fastest growing service providers to the fleet and logistics market. They are the only global fuel card business to have developed its own telematics solution now in over 50,000 vehicles.
The financial and billing systems were failing under the strain of growth. Aggressive go-to-market strategies, innovations in new products and services, and highly-complex pricing scenarios were unsustainable in the disjoined systems and manual processes.
RecVue’s Big Data architecture and modern billing functionality manages 100,000+ pricing scenarios; over 40 million transactions and billing data for consumers and vendors; and key insights of utility with ease. Native integration to a cloud ERP completes the cloud-first technology stack modernization initiative.
“Our pricing scenarios change constantly, generating millions and millions of data points. RecVue is able to ingest all this data and intelligently manage the 100,0000+ pricing rules which drive both our customer and vendor billing. The RecVue team has been instrumental in thinking through our sophisticated hybrid monetization scenarios, ensuring we hit our project milestones, keeping this part of our multi-year transition to a cloud-first back office on track.”
With more than 20 offices in 13 countries across Europe and Southeast Asia, this company is one of the world’s fastest growing service providers to the fleet and logistics market. They are the only global fuel card business to have developed its own unique telematics solution now in over 50,000 vehicles. Many major oil companies choose to white label their fuel card and telematics products, and their investment in technology and software innovation is believed to give them the edge in a very competitive environment.
The company’s homegrown and on-premises financial and billing systems were failing under the strain of growth. Their aggressive go-to-market strategies, innovations in new products and services, and highly-complex pricing scenarios were unable to be sustained in the disjointed systems. They also had a heavy reliance on manual processes which added too much risk and too many points of failure in their operational processes, not to mention inefficiencies. They wanted an integrated solution that could scale with their long-term growth trajectory.
Their fuel card programs, which span 13 countries, have a myriad of pricing and discounting conditions which drive complexity to billing. Attributes like card types, discount agreements, daily fluctuations in fuel pricing, country of origin, country of purchase, vehicle numbers, registration numbers, and more need to be factored for each transaction every day. Fuel cards can also be used for non-fuel items, generating more transactional data. These transactions then need to be accounted for across an entire fleet of card holders and billed to the corporate entity with the proper granularity and in non-standard billing frequencies. The addition of telematic services adds additional tracking, such as toll and tracking devices, all of which are billed with one-time, subscription, and consumption-based charges. They needed a specialized monetization solution that could satisfy the functionality, reliability, and scalability requirements needed for billing.
The company launched an initiative to update their back-office technology to a more modern, flexible, and scalable solution. Along with a new cloud-based ERP solution, RecVue was chosen as the monetization engine to manage their sophisticated billing needs.
RecVue, an agile, enterprise-grade monetization platform, houses upwards of 100,000 pricing scenarios for usage-based billing. Based on the attributes of each transaction as described above, the system intelligently determines the best rate in real-time and applies it to the transaction for billing. With over 40 million transactions and growing, RecVue’s Big Data architecture and processing handles the high-volume at scale and with ease. RecVue is also able to manage the lifecycle of cards and telematics devices the one-time and subscription charges for lifecycle of cards and telematics devices.
This company required the billing solution to handle the costing side of the business as well. RecVue is able to manage the pricing scenarios for costing based on the negotiations the company has with each fuel vendor and generate billing information for payable invoices.
The native integration with their chosen ERP automates back-end operations for invoicing and revenue recognition, effectively eliminating the time-consuming, manual workarounds. The RecVue Insights Engine allows the company to gain key insights to utilization and operations. For example, having both the billing and costing information allows the company to analyst margins and adjust pricing as appropriate and helps in reconciling the transactions (vendor data, transactions received, and transactions billed).
The company has gone live with phase one of a multi-phased project defined by geographic regions. The initial region has been operational for months with great success. Phase two, which is much more complex, will go live by the end of 2018.