IT firm introduces 'Fuel Manager' to ease rising cost

TO ensure that the multi-faceted negative effect of subsidy removal on PMS does not affect the bottom line of businesses in Nigeria, Concept Nova, an Information Technology service company partnering with Sattrak Services ' an Asset Tracking Services Company ' has re-introduced, Fuel Manager, one of its enterprise software solutions, to the Nigeria market.According to the Head of Strategy and Performance Management, Mr. Nnamdi Ochonogor, with the total deregulation of the oil sector, the removal of subsidy on Premium Motor Spirit (PMS) and the subsequent increase in price of petrol will have a multi-faceted negative effect on the bottom line of businesses. This, he also said, will force businesses to review their processes and prices, in order to stay competitive and profitable in 2012.He argued that times like this calls for prudence; and effective management is the way forward, predicting that fuel will become an even bigger target for misappropriation in organisations.'One of the best ways of adjusting to this price increase is to properly monitor and manage our fuel usage. This is because our research and experience has shown that close to 28 per cent of fuel consumption in Nigeria is wasted. With this price hike, we expect this rate to increase, as fuel becomes more valuable for theft as it becomes more expensive. And software will become a key method to stopping this. Our solution is simple and affordable and it will help organizations adjust and remain competitive'For organisations that have fleets of fuel consuming assets; cars or generators, that may be mobile or stationary or fuel storage tanks, Fuel Manager provides remote access monitoring capabilities of fuel within the assets. This means that you can monitor the fuel within your assets from the comfort of your home or office.'Fuel Manager helps with the monitoring of fuel usage, the detection of high fuel consumption rates, the discovery of leakages and the ascertaining of fuel theft attempt. It also tracks the car or (mobile) generator's geo-position, which secures against theft.'He also revealed that to complement the Fuel Manager, Concept Nova has developed another enterprise solution called FleeTrak.'FleeTrak, which is a fleet management software application, helps to increase the efficiency and lifespan of fuel consuming assets. While Fuel Manager detects and reports fuel consumption, theft and securing the asset, FleetTrak monitors all aspects of the vehicles' management, such as journey allocation, maintenance, spare parts and budgeting, helping users control their cost of ownership. When used together, Fuel Manager and FleeTrak can serve as a Total Asset Management Solution, enabling managers to maintain restraint on business expenses that can easily spiral out of control in the current climate.
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