WEX Launches ClearView Advanced to Convert Customer Insights to Action
25 April 2017 - 9:30PM
Business Wire
During Pilot Period, 84 Percent of Drivers
Stopped Buying Premium within 24 Hours
Today, WEX Inc., a leading global provider of corporate payment
solutions, announced the launch of its ClearView Advanced platform
at the NAFA 2017 Institute and Expo.
ClearView Essentials was originally unveiled in November 2015,
bringing to market an innovative fleet analytics and benchmarking
platform that analyzed fuel and vehicle data. Combining this data
with proprietary algorithms generated insights and helped save
fleets time and money.
Due to the overwhelming success of ClearView Essentials, WEX
worked with leading fleets throughout the U.S. to develop the next
generation product, ClearView Advanced, which expands the
capabilities to include sophisticated fuel price optimization
algorithms as well as driver messaging to change behaviors and save
on wasteful fuel spending.
ClearView Advanced was tested with fleet managers representing
more than 45,000 vehicles, including fleets owned by the state of
Georgia and Hammer Construction. These fleet managers helped WEX
design, build, and evaluate the product over a 12-month period.
While testing the new platform, WEX was able to change the poor
purchasing decisions by more than 80 percent of drivers who
received a targeted text message or email. This ability to
positively change driver behavior has the potential to save
thousands of dollars for each wasteful driver.
“ClearView Essentials is a powerful tool, but it was only a
first step. ClearView Advanced turns insights into action. It
allows fleets to prompt drivers to take action—such as stopping the
use of premium fuel, refilling at a less expensive stations, or
taking care when entering odometer readings,” said Kurt Thearling,
Vice President of Analytics at WEX. “Our goal is to help fleet
managers leverage data, resulting in cost-effective and efficient
operations.”
ClearView Advanced enables fleet managers to identify and
correct behaviors, and take action including:
- Identifying drivers who purchase
expensive gasoline, violate company policies, commit theft, or
otherwise make poor fuel purchasing decisions
- Sending automated messages to the
identified drivers, encouraging them to change their behavior and
come back into compliance with company policies
- Tracking the behavior of messaged
drivers to measure effectiveness, and follow-up with drivers who
have not changed
“When we first started using ClearView, the results were
dramatic. We were able to immediately show savings and modify
driver behavior,” said Ed Finnegan, Office of Fleet Management,
State of Georgia.
WEX will be showcasing ClearView Advanced and its entire suite
of fleet industry products at NAFA from April 25-28 at Booth 819.
For more information, please visit:
http://www.wexinc.com/clearview/.
About WEX Inc.WEX Inc. (NYSE: WEX) is a leading provider
of corporate payment solutions. From its roots in fleet card
payments beginning in 1983, WEX has expanded the scope of its
business into a multi-channel provider of corporate payment
solutions representing approximately 10 million vehicles and
offering exceptional payment security and control across a wide
spectrum of business sectors. WEX serves a global set of customers
and partners through its operations around the world, with offices
in the United States, Australia, New Zealand, Brazil, the United
Kingdom, Italy, France, Germany, Norway and Singapore. WEX and its
subsidiaries employ more than 2,700 associates. The company has
been publicly traded since 2005, and is listed on the New York
Stock Exchange under the ticker symbol “WEX.” For more information,
visit www.wexinc.com and follow WEX on Twitter at @WEXIncNews.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170425005001/en/
WEX Inc.Robert Gould, 207-523-7429WEX Public
Relationsrobert.gould@wexinc.com
WEX (NYSE:WEX)
Historical Stock Chart
From Apr 2024 to May 2024
WEX (NYSE:WEX)
Historical Stock Chart
From May 2023 to May 2024