Smartflow Technologies, Energy 360 Africa debuts innovation to improve retail fuel margins
Having seen the rate of fuel margins being squeezed each year and the value of fuel losses increasing, Energy360 Africa Limited, a retail fuels technology company, in association with Smartflow Technologies, a leading flow and level automation company in Nigeria, has launched a solution that uses the power of real time data to reduce fuel losses, lower operational cost and deliver savings, thereby helping to improve profit margin for fuel retailers.
Given that retailing of petroleum products requires a huge capital outlay for infrastructure and procuring products while having razor thin margins, critical success factors will include cutting costs and running an efficient operation.
Dolapo Adeyeye, Chief Executive Officer of Energy360 Africa Limited, during the launch of the technology, said that the company’s innovative solution divided into E360 station manager and the E360 station analytics has been developed with these ends in mind.
“The E360 station manager is an innovative cloud based software. A service designed to optimize business operations and profit margins, ensuring proper control at the forecourt, while the E360 station analytics helps manage fuel business more effectively, by delivering real-time information that you can access whenever and wherever you need the information.
“We understand the difficulties involved in running a network of fuel retail stations from afar, based on which we have brought about these business technology solutions some of which include, continuous remote inventory monitoring across your fuel stations, restock alerts, automated daily reconciliations, identify and reduce risk, eliminate fraud and prevent loss of products, control cash flow and get visibility on your cash flow process, manage deliveries better, and the possibility of automated payment system at your fuel stations among others,” said Adeyeye.
Smartflow Technologies, the strategic partner of Energy360 Africa, has since its inception in 2009, deployed solutions and systems for hundreds of clients nationwide in various industries, ranging from Agriculture, Banking, Cement, Food & Beverages, Logistics, Oil & Gas and Transportation among other thriving sectors of the economy. In line with the successes achieved in deploying Automatic Tank Gauges, Remote Monitoring Systems, and Fuel Management Systems (FMS
The company said that in response to the needs of the market it will be working with the newly incorporated Energy360, providing the base equipment required to deploy technologies which will assist fuel retail stations cut losses in their operations.
Milin Shah, Smartflow’s managing director said that Smartflow’s capabilities are built on strong knowledge base, a steady improvement in practices, extensive research and exceptional support from its global OEM partners such as Gilbarco Veeder-Root, CODAB, Orpak, OPW, Nivelco and GIR among others.
Also speaking also during the event launch, Abayomi Elebute, the chief operating officer of Energy360 said: “E360 station manager offers a comprehensive suite of modules to its customers which covers sales management, stock management, expense management, cash management, (cash, POS, credit) and supply management. The E360 station analysis has the following modules: real time sales analytics, reconciliation and fraud Analytics, Real-time stock analytics, replenishment planning, executive sales and stock analysis and expense analysis”
“More so, the benefits which includes minimizing financial loss by determining issues of fuel loss swiftly, such as those from tank leaks, theft, over dispensing ant short deliveries, instant access to daily reconciliation data by nozzle, pump, tank and station within your network, swiftly identifying slow-flowing nozzles and under dispensing pumps which allows for maintenance work to be carried out early, preventing a negative customer experience.” said Elebute.
ISAAC ANYAOGU and CHINYERE OKEKE