Overview
Target Egypt Group is a leading money transfer company in Egypt, they have been present since 2007 and they have about 13 branches. Target owns a fleet of around 300 vehicles that travel extensively across the country. Moreover, the company faced challenges in managing fuel consumption and costs, which were rapidly increasing due to over-consumption, fuel theft, and fraudulent activities by employees.
To address these challenges, the company implemented PetroApp, an innovative electronic system that enables companies to reduce fleet fuel consumption and control it by installing an electronic NFC chip, for each vehicle, as the only identifier of the company and for the car at the gas station.
Fuel consumption challenges
Before implementing PetroApp, Target Egypt Group faced several challenges that affected its fuel budget and company’s overall productivity, including:
- Over-consumption: The company manually monitored the fuel consumption of each vehicle in the fleet. Thus, more than one accountant was assigned to each branch to track consumption manually, which resulted in less accuracy and consumed more time. In addition, the company was unable to track and determine fuel consumption based on the number of kilometers traveled by each vehicle, which led to an increase in excessive consumption and wastage of fuel.
- Fuel Fraud: The company experienced frequent cases of fuel fraud, where drivers would withdraw fuel from their vehicles for personal use.
- Paperwork Hassle: The company was experiencing difficulties and immense pressure with paper-based work and paper invoices, which was putting pressure on employees to review and enter all of these invoices into the system manually.
- Uploading invoices on the tax portal: Due to the conversion of traditional invoices into electronic invoices, Target was suffering from the possibility of issuing electronic invoices and submitting them on the tax portal on a monthly basis.
Solutions to Control Gasoline Consumption
To address these challenges, Target Company implemented PetroApp, a smart electronic system that enables companies to reduce fleet fuel consumption and control it by installing an electronic NFC chip for each vehicle as the only identifier of the company and for the car at the gas station. PetroApp Egypt has helped the company in more than one way:
- The system enabled the company to set and distribute the fuel budget for each branch and each vehicle easily and monitor the fuel consumption of each vehicle in real-time, which put an end to fuel over-consumption and waste.
- The electronic NFC chip also prevented fuel theft and fraudulent activities by ensuring that fuel was only dispensed to authorized vehicles.
- Also, the ease of transferring the fleet data from the PetroApp system to the company’s system saved a lot of time and effort.
- Moreover, PetroApp helped Target get rid of paperwork, submit electronic invoices, and upload them to the tax portal on a monthly basis with ease.
Results after using PetroApp
After implementing PetroApp Egypt, Target was able to reduce its fuel budget which was approximately 1100000 EGP monthly, resulting in a savings of 15% to 20%. The company achieved this through a combination of reduced fuel consumption and prevention of fuel theft and fraudulent activities.
Conclusion
To conclude, Target Company was able to reduce its fuel budget by 15% to 20% after using PetroApp system for more than a year. PetroApp is a smart electronic system that enabled the company to monitor fuel consumption, prevent fuel theft, and fraudulent activities, and streamline the fuel filling process. The company achieved significant cost savings, which quickly offset the system’s cost. PetroApp proved to be a valuable asset in controlling the company’s fuel budget and eliminating over-consumption and fraud, as well as helping the company save time and effort.