RoadFlex, a fleet expense management and fuel card solutions provider, announced two new features for its multi-layered security platform to create a more proactive approach to combatting fuel fraud.
RoadFlex’s fuel risk management solution uses vehicle location data and mobile driver authentication to ensure the right person is fueling the right vehicle at all times. A newly launched Vehicle Fuel Analysis program now sifts through transaction data to create virtual vehicle spending profiles based on a specific tractor’s usage. Fleet transactions are contextualized in real-time to predict vehicle needs, vehicle spend and understand the maximum risk of transactions for a specific vehicle and driver. For example, an alert is triggered and the fleet manager is notified if a vehicle was fueled the day before and returns to the pump the next day for 25 gallons with only 50 miles elapsing on the odometer.
In addition, a new Fuel Risk Analysis Reporting feature monitors fuel risk and blocks them from even occurring, said Rush Akin, RoadFlex’s chief revenue officer, during a press conference at the Truckload Carriers Association's Truckload 2024 convention in Nashville, Tenn. “Now, with our new features, we’ll let you know who and where it could have happened, so that you pay more attention in the future in places that tend to be overlooked for fraud,” he said.
Akin added that RoadFlex’s platform can nearly eliminate fuel fraud and fuel loss entirely. “Fraud can slip through the cracks and go undetected,” he said. “Most fleet operators assume 5 to 10 percent of their fuel spend is fraudulent, and that has been in their budget year after year. From a fuel risk management perspective, we are telling them they don’t have to spend $1 million in fuel fraud when they could be spending that money in a better way.”
