With the myriad of problems that mining companies have to deal with, fuel loss shouldn’t be near the top. Yet it is still a prevalent issue for many companies.
However, it isn’t just fuel fraud that causes fuel loss in mining. In fact, there are a variety of reasons for fuel loss – and each of them can be as impactful as the other.
More than just fuel fraud
If you think of fuel loss in mining or transport companies, you probably think of fuel fraud.
Fuel fraud can be a major problem in any company. Personal and fraudulent filling as well as fuel card abuse can result in huge money losses for companies, especially in the long run. The occasional fuel misuse here and there can seem small – but when it mounts up across hundreds, if not thousands, of people, the loss can be immense.
However, there are other ways through which companies can lose fuel, including reckless driving, fuel equipment issues and incorrect reporting.
These can all have a potential disastrous impact on a company. Thankfully, there’s a solution: streamlined data management.
Keeping fuel loss minimal
Fuel loss may never be entirely obselete in your company. However, it can be largely reduced through efficient fuel tracking. This means utilising technology that allows you to track every instance of fuel use in your company, detect any anomalies, and follow them to their source.
Our platform, STAMP Fuel, does this with limited disruption to your company. STAMP Fuel is blockchain-enabled, so you can utilise blockchain technology if required. This allows for more comprehensive, permanent, and secure data storage. This also means that you know transactions have not been tampered with or adjusted.
Through STAMP Fuel, you can optimise your fuel usage and reduce fuel loss by detecting any anomalous patterns. STAMP Fuel also easily integrates with any pre-existing processes or software, removing the need for entire business disruption.
Optimising fuel usage allows companies to save money and instead spent it on more innovative, company-building operations.