South Africa’s major banks are claiming that they can compete with our Intelligent Fuel Management (IFM) solution when it comes to fraud detection, but we know that our product is unique.
The IFM solution is unique because it is the only system known to Avis Fleet that it analyses every single fuel transaction. Many competitors claim to manage fuel expenditure through their tracking systems, but while the information provided might highlight issues like fraud, theft or abuse, it will not provide customers with the details to better manage it.
IFM is the only system available on the market that quantifies potential losses and recognises the fact that potential fuel theft, fraud and abuse can be calculated from a reasonable norm set for each vehicle.
IFM’s weekly and monthly reports are comprehensive and provide more information than you would receive in the reports provided by banks. Alerts are generated as they are found, which constantly keeps our customers informed of any potential fuel fraud, theft or abuse.
The exception reports produced by banks are usually provided monthly and are based on averages. The reports provided by Avis Fleet are the only way to achieve positive results, they work with real-time transactional analyses and vehicle-specific norms. Here are a few ways in which our IFM solution is better than fraud detection by banks.
Banks can detect:
IFM monitors potential risk areas and provides a comprehensive service with an operator that analyses daily data on their fleet consumption and fleet performance and sends alerts and enhanced reporting via email.
All data is processed through a database system with little or no human interaction.
All exemption alerts from banks are system-generated and sent via email. They can only be accessed via a web page or a stand-alone system.
IFM’s main focus area is on fuel consumption to help businesses with vehicle performance specifically in terms of fuel.
The banks’ main focus is on usage and number of transactions. No bank reports display consumption.
We provide a consolidated database – all vehicle transactions are from all sources (on-road and depot).
Banks will only include fuel transactions processed through their fuel cards. A company’s fleet might fill up at a depot or use other means of filling up and these fill-ups won’t be taken into consideration. So the banks cannot calculate vehicle consumption accurately.
Our reports also display usage, trends and consumption. They also show the overall performance of vehicles and can even pinpoint the worst-performing vehicle.
Even when banks offer exemption reports they only report on dormant cards, multiple fill-ups, overfills, status change, usage and weekend fill-ups.
We have 20 different types of alerts on our database including odometer discrepancies, irregular consumptions and missing transactions.
The exemption reports that banks offer are not as comprehensive or detailed.
Fuel station queries
Avis Fleet interacts directly with fuel stations to determine if there was theft based on the analysed data.
Banks don’t interact with fuel stations regarding fraud or abuse.
Outsourcing your fleet management to Avis Fleet and using the IFM solution has already saved customers hundreds of millions of rands in fuel costs. To find out more about our IFM solution download our factsheet.