FuelQuest
FuelQuest, Inc. is a fuel supply chain management and tax automation software and services company headquartered in Houston, Texas. Since its founding in 2000, FuelQuest has focused on reducing the cost of procuring and managing fuel for retail, fleet and transportation companies through technology-based solutions.
FuelQuest's Fuel Management System (FMS) is an on-demand solution that automates all aspects of the fuel management process from procurement, inventory management, demand forecasting, strategic sourcing and financial reconciliation to margin analysis and environmental compliance monitoring. Using FMS, fuel managers and procurement managers can capture and minimize true fuel costs by understanding demand patterns, optimizing inventory, centralizing supply contracts, determining best price on market versus contract, and reconciling invoicing and taxes. The FMS solution powers the largest fuel management network in North America with more than 15 billion gallons managed annually.
FuelQuest Fuel Center provides an outsourced fuel management service for clients who wish to control high motor fuel prices and volatility. The Fuel Center team acts as an extension of customers' organizations by managing the complexity in their fuel supply chains.
FuelQuest's Zytax solutions provide strategic software automation which assist in indirect tax determination and excise motor fuels compliance for the energy industry. Zytax processes billions of dollars of motor fuel excise taxes per year. Zytax is a wholly owned subsidiary of FuelQuest and is also headquartered in Houston, Texas.
More than 750 customers globally leverage one or more of FuelQuest's solutions to solve their fuel and tax related challenges and improve their operational efficiency.
Business Divisions
- FMS
- Fuel Center
- Zytax
History
- FuelQuest was founded by Rich Cilento in 2000.
- In 2002, FuelQuest acquired its Zytax subsidiary which reduces the cost and improves the accuracy of indirect tax determination and excise motor fuels compliance for the energy industry.
- FuelQuest was fully acquired by Saracen Energy in 2007. Saracen Energy is a Houston based investment manager engaged in multi-commodity trading in the physical and financial energy markets in North America.
- FuelQuest went live on its Fuel Management System (FMS)/Compass solution in 2008.
- Matt Tormollen was named FuelQuest's CEO in 2008.
FuelQuest Advisory Board
The FuelQuest Advisory Board is an independent body, representing industry leading companies, providing guidance concerning business strategy, market development opportunities and product direction. Board members cover a broad range of global energy experience with participation from the following industry segments: audit and tax consulting, convenience and fuel retail, energy trading and risk management, fleet card and fleet management, and petroleum transportation and logistics.
Current members of the FuelQuest Advisory Board are:
- Rich Cilento – Chairman of FuelQuest Advisory Board & Original FuelQuest Founder
- Matt Tormollen – President & CEO, FuelQuest
- Kenneth Kral – Senior Vice President of Business Development, Voyager Fleet Systems, Inc.
- Mike Forbes – Vice President Logistics Solutions and Engineering, Kenan Advantage Group
- Oscar L. Garza – Tax Director, Deloitte & Touche, LLP
- Ron Fulenchek – Gasoline Transportation Manager, 7-Eleven
See also
- fuel management system
- Zytax