Would you make $1000 or $100,000 from fuel price automation?

Examining your fuel pricing management processes regularly is critical — because the fight for volume is only getting harder.
Would you make $1000 or $100,000 from fuel price automation (2)

In recent years volatility has been the only constant. With so many factors influencing the price of fuel, that are often out of our control, you need to be prepared to act quickly. Fuel price automation tools can give you the power to make quick decisions with confidence.

Now is a good time to ask yourself, can you identify any process inefficiencies?

Understand the cost benefits of switching to fuel pricing automation by using this quick and easy calculator.

How much is your fuel pricing actually costing you?

 

What now?

Kalibrate Fuel Pricing can help you automate your prices and elevate your pricing processes.

See it in action here or contact Kalibrate for more information

 

Avoid wasting time and money on inefficient manual pricing processes.

Ask yourself the following three questions:

  1. How quickly are you alerted to competitor price changes?
  2. How quickly do you change the price at your pumps after doing competitor price research?
  3. Do you know when pump prices changed and the extent of any delay?

The answers will help you establish how much your fuel pricing strategy is costing your company.

Know your competition

As well as understanding the cost benefits of fuel pricing automation, you need to be able to monitor what the competition is up to. That means assessing raw market data effectively, and deciding how to react quickly.

It pays to be prompt rather than perfect — consider adopting a directional decision-making strategy to ensure you keep pace with the market.

You should be able to relate your prices, and competitor prices, to volume. An elasticity model can help to strike the balance between not dropping the price too quickly, and not being seen to lag behind. To monitor and manage this level of data, and respond to such rapid market changes, you need to shift away from manual pricing and embrace automation.

Want complete peace of mind?

Automating fuel pricing processes can play a huge role in keeping you compliant, and ensuring that your quick responsive actions adhere to market rules. Your data is key to telling you what’s going on and proving what happened afterwards.

Centralized, automated tracking and reporting is crucial. You don’t want to be scrambling around for answers to why specific decisions were made in a week’s or a month’s time. You need real time tracking around decision making and approvals, to ensure choices are consistent with pricing policy and — if any departures were made — why.

For peace of mind that you’re meeting your legislative obligations, or to understand where your processes could be enhanced, take a quick look at our fuel compliance assurance checklist.

Fuel retailers increase gross profit by an average of $454 per site, per week with Kalibrate Fuel Pricing

Kalibrate Fuel Pricing helps fuel retailers sell 1.4% more volume

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