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TruckFuelNet and Standard Bank set to disrupt the South African market

Two of South Africa’s biggest players in the freight logistics market have gone into partnership to produce a new digital solution that is set to dramatically impact the long haul industry in Southern Africa. The collaboration between Standard Bank Fleet Management and TruckFuelNet (TFN) will bring together real time refuelling management and the best in on road diesel discounts and driver costs management.

The integrated offering will mean that Standard Bank fleet clients will be able to access expanded TFN offerings which includes access to TFN forecourts, services such as paying for overnight parking, lodging and food for truck drivers, and filling up using their Standard Bank fleet management facility.

For the first time ever Standard Bank customers who make use of the TFN network will be able to use their credit facility to pay for all driver and truck on-road expenses, thanks to a cardless and cashless integrated business and banking cloud-based platform.

Says Derick De Vries, executive head of fleet management at Standard Bank: “We are very excited about this partnership and the fact that it is a first in the South African freight logistics industry. By partnering with TFN we are combining the best of logistics technology with the best of fleet management technology to ensure a world-class end-to-end experience for our clients and their employees.”

Standard Bank’s fleet management suite provides clients with state-of-the-art financial services such as real-time transaction notifications, detailed reports and managed maintenance programmes that reduce the cost of ownership.

TFN, in turn, provides customers with a cloud-based, B2B software platform, which puts fleet owners and managers in control of all their on-road refuelling and driver spend through a comprehensive, real-time fuel management solution. TFN is the biggest independent on-road refuelling service provider in South Africa and provides the most competitive national and cross border on-road diesel discount.

“Our technology creates seamless interaction between the fleet owner, the driver and the truck stop owner. It also allows owners to implement rules which determine when, where and how much a driver can fill up, and at the best price for a route. When leveraged correctly this can help to increase efficiencies while lowering costs simultaneously,” says Stevie Ferreira chief executive officer of TFN.

TFN functionality includes:

  • Comprehensive on-line account management
  • Schedule refuelling orders; SMS orders for quick refuelling; select suppliers with best zones and prices where your trucks can refuel; set the rules for refuelling; authorise refuelling from your mobile app; view refuelling transactions and account balances from your mobile app.
  • Immediate real-time transaction reporting on all transactions.
  • Detailed account and transaction reporting on all transactions per supply site, truck, and driver.
  • Comprehensive functionality to administer and manage sub-contractor refuelling, account status and credit limits.
  • Homebase refuelling management and processing integrated with on-road refuelling.
  • Add trucks, authorise transactions and manage truck refuelling rules from the comfort of your customer dashboard.
  • 24/7 Call Centre to assist with any refuelling query or customer service to eliminate any waiting time or delays.
  • A cardless solution where the customer creates and manage and administer its own virtual card for refuelling (no card expiry, card costs, card damage, card replacement)

“The combination of complimentary Standard Bank benefits such as fleet maintenance, fines management and roadside services, coupled with TFN’s expanding footprint and its ability to sell fuel at discounted prices really does make this partnership a game changer in the freight logistics industry,” says De Vries.

Current fleet offerings do not provide the same sense of security as the joint offering will Ferreira adds.

“Traditional card based, and e-fuelling systems cannot manage potential fraud in the manner that this solution does because it is on a “post” event basis. The TFN solution gives the customer the ability to control and manage in real time, based on actual kilometres travelled and fuel in the tank, how much refuelling the truck requires. By using a process of transaction pre-authorisation with refuelling, thus applying all the rules and conditions set and required for the refuelling, the system eradicates fraud, which occurs most commonly at the diesel pump, even when customers have the ability to set limits on their fuel cards or have devices installed in the truck’s fuel tank. Effective refuelling management can only be achieved where the customer is 100% in control of the process and where the customer can manage, digitally in real time, up to the point of refuelling, the authorisation of the event.”

An added benefit for customers will be the cost saving – driven by two key factors. The first is TFN’s buying power which could save customers between 80c and R1.40 per litre of diesel off retail pump prices.

The second is the route planning capability of the solution which allows fleet managers to choose where and when a driver can refuel based on the best price on the route and TFN promotion discounts on offer on any, particular day.

“We are merging the best of both worlds and as a result have built a customer centric solution, which is digital and executes client needs quickly and efficiently. We have taken fleet manager and fleet card solutions to the same level as personal banking where customers have the power to manage fleet transactions themselves,” concludes De Vries.

Read full article here: https://www.abrbuzz.co.za/mobility-beat/12992-truckfuelnet-and-standard-bank-set-to-set-to-disrupt-the-south-african-market

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