We don’t talk about fuel loss enough in mining and transport. Around the world, companies are losing millions of dollars to unexplained fuel loss every year, yet companies around the globe are forced to accept it as a cost of business.
Why don’t we talk about it? Largely, because there is no ‘fix all’ solution for unexplained fuel loss. Companies who struggle with fuel loss often accept it as unavoidable, and it’s easy to see why. With massive companies in mining and transport to run, there are excessive amounts of fuel data to analyse.
It can seem like an impossible task.
Luckily, the fuel problem can be tackled.
However, fuel fraud doesn’t have to be the only reason that companies seek out better fuel tracking, and it’s important to note that not all fuel loss is from fuel fraud. Instead, there’s a variety of factors that come together to create fuel loss in companies.
Where’s the need for fuel tracking?
Fleet and mining companies, both big and small, deal with massive amounts of fuel every day. This fuel goes into different trucks and is taxed differently to fuel used on traditional roads. Because of this, and because of the burden that fuel costs put on companies, fuel tracking is an absolute necessity.
However, many companies use outdated methods of tracking fuel, largely because there hasn’t been a simple but all-encompassing solution yet. The demand for fuel tracking isn’t only from fraudulent behaviour. There are a variety of factors that come into play with fuel loss, from reckless driving to incorrect fuel recording and hardware issues.
The key to efficient fuel platforms
There are a variety of fuel management systems that assist in centralizing data. Blockhead Technologies has created STAMP Fuel, a blockchain-backed fuel tracking platform. It can track, analyse and centralise your data in one place, all while being easy-to-use and secure.
The blockchain component of STAMP Fuel ensures that the fuel tracking platform is both secure and traceable. Any information put on the blockchain is permanent. If there are any changes or deletions, these are visible to everybody with permissions.
In addition, STAMP Fuel integrates with pre-existing software. This means that, if you already have a fuel management system in place, you can intake data into STAMP Fuel without having overturning your existing processes.