B2B payments and fleet services provider WEX has had a good year. The company announced a slew of major partnerships, including one with fuel giant Sunoco, as well as an optimistic earnings report to start the year off, one that hinted at new expansions for the company in the near future.
"When I think about the rest of the year, it is really about doing things that are setting the company up for accelerating growth,” said WEX CEO Melissa Smith when the company announced its 2015 Q1 earnings report.
The latest example of that growth emerged on Wednesday (July 29), when WEX revealed that it had secured ServiceMaster Global Holdings as its newest client. According to the announcement, ServiceMaster’s entire fleet of vehicles, under an array of brands like Merry Maids and Terminix, will now integrate WEX’s fleet analytics and management tools.
In a statement, WEX Vice President of Customer Acquisition Bill Cooper called the new partnership “a great honor."
"Our customer service model and sophisticated and precise technology will play a critical role in helping ServiceMaster run its business more efficiently, effectively and securely,” he said in a statement.
ServiceMaster will reportedly sign on to WEX’s corporate payments solutions as well as the firm’s Big Data fleet analytics tools, allowing ServiceMaster to gain more accurate and timely insight into fleet operations.
WEX has emerged at the forefront of the digital revolution in fleet management. Payment solutions that allow fleet managers to use Big Data to track mileage and other key factors are combining ways for companies to pay for their fuel and cost-effectively manage their fleets.
A recent Fleetmatics report explained why a sophisticated, technology-driven fleet card is essential for today’s corporations. “Fuel savings represent one of the many avenues by which significant savings can be achieved with the use of commercial telematics,” the report said. “When you add this to the savings derived from reduced payroll hours, increased fleet productivity and utilization, and minimized harsh driving and idling, for example, the monetary savings can far exceed $45 per vehicle."