WEX Inc., a leading provider of corporate payment solutions, announced InformationWeek has named it one of the 500 most innovative users of business technology, for the third consecutive year.
For a quarter century, InformationWeek has tracked the technology, strategies, investments, and administrative practices of some of the best‐known organizations in the country. In 2011, 2012 and 2013, WEX earned a spot on this coveted list for its dedication to innovation. Most recently, this focus was reflected in the company’s investment in software, including WEX TelaPoint® SmartBuy 4, the most comprehensive and up-to-date fuel supply management and service platform.
“It’s an honor to once again achieve this esteemed award that underscores our continued commitment to providing customers with cutting edge, precision technology solutions driven by market needs,” said Stephen R. Crowley, senior vice president, shared services and chief information officer at WEX. “Congratulations to WEX’s innovation teams, who deserve to be extremely proud, and all employees for their daily contributions to WEX’s technology leadership strategy.”
In today’s highly volatile fuel market, companies can drastically reduce their annual fuel supply cost by strategically managing their choices. WEX TelaPoint® SmartBuy 4 combines more than a decade of fuel buying best practices and a robust set of speedy algorithms to bring real-time buying intelligence to all key players in the fuel distribution workflow, including supply managers, dispatchers, drivers and third party carriers. WEX TelaPoint® SmartBuy 4 manages the daily distribution of 35 million gallons of liquid fuel products including gasoline, diesel, ethanol, biodiesel, kerosene and jet fuel. Through the platform, users continually make thousands of wholesale fuel purchase decisions where small differences in pricing magnify across the enterprise to tens of thousands of dollars per day.
"The theme of this year's InformationWeek 500 is digital business. It's a movement, rooted in data analytics, mobile computing, social networking and other customer‐focused technologies that are turning companies and industries on their ear," said Rob Preston, InformationWeek editor In chief. “The organizations in our ranking are leading the way."
Previously, WEX was recognized for “Octane,” the first fuel site locator mobile app to combine real-time fuel price data and text-to-speech capabilities to direct drivers to the lowest fuel prices in the area.
Unique among corporate rankings, the InformationWeek 500 spotlights the power of innovation in information technology, rather than simply identifying the biggest IT spenders. The full list of winners appeared both in the September 2013 InformationWeek 500 issue and online at informationweek.com/500.