� CARGAS LOOKS AT TECH TRENDS IN FUEL DELIVERY
Cargas in January issued its 2024 Benchmarking Report on Top Technology Trends in Fuel Delivery . The complete report can be viewed at www . cargasenergy . com / tech-trends-2024 /. Here is an excerpt .
In recent years , energy companies have realized the potential for efficiency gains by embracing a more extensive array of software tools . These companies are actively diversifying their tech stacks , prioritizing new business software solutions , and showing a keen interest in cuttingedge features such as automation , artificial intelligence , and cloud computing .
This diversification goes beyond the realm of fuel delivery , encompassing investments in tools aimed at optimizing overall operations and enhancing customer service .
Almost 25 % of respondents purchased fuel delivery software within the past 3 years , but the vast majority have had fuel delivery systems in place for four or more years . And it seems that fuel dealers are eager to stick with the status quo — at least for now .
In 2023 , 38 % of respondents wanted to wait seven or more years to purchase fuel delivery software . That number grew by almost 13 % in this year ’ s survey , signaling that energy companies want to wait before making fuel delivery tool investments . Recent investments in new software could also explain the increase , as fuel dealers who recently purchased a new solution aren ’ t looking to replace it .
Despite this steep increase , it ’ s not the highest we ’ ve seen ; in our 2022 survey , 58 % of respondents said they would wait seven or more years . investments , energy companies are prioritizing other solutions to add to their tech stacks . More than half of respondents ( 55 %) are actively looking into new business software . For these respondents , some of the most popular tools under evaluation are fuel delivery software ( 17 %), service solutions like Service Titan ( 13 %), customer care solutions like Customer Relationship Management ( CRM ) software ( 11 %), and point of sales software ( 11 %).
Additionally , respondents currently evaluating software are interested in features like automation ( 10 %), artificial intelligence ( 10 %), and cloud capabilities ( 7 %).
In an era of rapid technological evolution ,
In addition to your fuel delivery software , what other technology do you use to support your business ?
Number of responses : 127
93 % of respondents use two or more software solutions to manage business .
Internal productivity and customer satisfaction are the top drivers of technology currently used by fuel dealers . When it comes to teamwork and collaboration , energy companies turn to office suites like Microsoft 365 and G Suite ( 75 %); payroll and HR software ( 72 %); accounting and general ledger tools ( 67 %); collaboration tools for chat , calls , and video conferencing ( 54 %); and electronic document storage and sharing ( 54 %).
To better serve customers , energy companies have invested in tank monitors ( 77 %), credit card gateways and payment processing tools ( 71 %), and customer portals ( 57 %).
In addition to fuel delivery software fuel dealers are left wondering what impact tools like artificial intelligence ( AI ) will have on operations . That ’ s why this year ’ s survey polled respondents on current and future applications of AI in the fuel delivery space .
Some respondents believe AI will bring advanced forecasting and delivery routing to the industry . But others remain cautious and even skeptical , citing the unique and variable nature of fuel delivery and HVAC service .
16 % of respondents use artificial intelligence , with ChatGPT being the most popular tool listed . These respondents are experimenting with ChatGPT ’ s writing and query capabilities to draft emails and answer questions . Other respondents use Google Bard for collaboration , Samsara for driver safety , and Podium for sales reporting . l FON
14 FEBRUARY 2024 | FUEL OIL NEWS | www . fueloilnews . com