The FuelWRX Service
Ever since I started the WRX, I had an idea for an import/export system that would bring in transaction, card, and account data, and export it to accounting and/or ERP systems. Most of these systems have some system to perform the imports, but there can be limitations such as data transformation, process frequency, and automation configurability. In my mind, I could build a system that was many things to many companies but essentially boiled down to a custom middleware solution: FuelWRX.
A few months ago, I was working through a process with another vendor for performing settlements of transactions by taking in site controller data and comparing against settled transactions. Surprisingly, there can be a significant gap in a meaningful way to automatically reconcile transactions resulting in a lot of manual processes to compensate. These manual processes grow out of the technology and process gaps and over time, it becomes an accepted practice - the cost of doing business.
More recently, I was discussing with another company their need to increase the frequency of imported transactions to a fleet management software they work with. Their accounting system can accommodate the import of daily transaction files and export to other systems like a telematic provider, but is limited to a daily process. However, by developing a system that acts as the translator between the fleet card provider's API and the telematics provider, we could provide near real-time data.
Both of these examples fall right into the scope I imagined for FuelWRX. Each scenario carries different challenges, goals, and data, but at their core require a process that brings in data, transforms the data, then exports the data. While this requires custom development to build the process - and is typically the barrier for many to move forward to address - the FuelWRX business model removes the high costs associated with custom anything.
Since the system will essentially boil down to transaction-based processing, a simple low transaction fee will be charged with just a month-to-month committment after a 90 day period. Some processes may incur one-time minimal setup or configuration fees which will be communicated upfront. I envision these as being costs outside of my own control. All custom software development will be absorbed by the WRX. I'm betting that whatever FuelWRX handles for its customers will be so beneficial that they will use it for years to come and I will make up my investment in the long run.
I'm revealing just the first layer of this service to everyone and encourage any companies out there to get in touch with me to discuss current needs or ideas. There's a whole reporting side of the service I have yet to share, as well as functionality to aid in fraud detection and revealing sales metrics. That being said, this service would only be as good as those it serves, so I welcome any feedback even at this early juncture.