I get asked a lot, “What is FuelNOW?” What are you trying to accomplish? Where does FuelNOW want to go? And for me specifically, these fundamental questions come from so many different angles. For example, during the interview process when I’m speaking with top talent to join our company… during engagements when I’m wearing FuelNOW gear and our logo catches someone’s eye… with potential partners, investors or customers… and, naturally, even during our technology innovation team’s product discussions when we look at our next features and solution ideas. Honestly, it is a question we should always have in the back of our minds.
FuelNOW’s near-term vision is to be the leading last mile logistics digital technology stack within the energy ecosystem. Our goal is to connect all parties in a more meaningful, smarter way so that deliveries are accomplished easier, faster and smarter. The natural question that I tend to be asked most after sharing our near-term vision is the quintessential question: Why? If you haven’t worked in the downstream segment of the energy industry then I am afraid the answer to that question would be longer than this post, but I’d be happy to talk through it with you – just give me a ring! But, what is refreshing is that regardless of the “why,” I am increasingly delighted to see the industry showing indisputable signs of technology emergence as a primary renegade for evolving beyond the current state.
In support of this, I thought I’d share a video that was recently shared with me, which in some part compelled me to want to write this post. Regina Mayor, KPMG Global Head of Energy, speaks on how emerging technology is giving way to disruption in the energy ecosystem. In this piece, she reminds us the ecosystem isn’t so much on the trajectory path of using technology to “replace humans,” but moreover are open to automating many aspects currently seen as repetitive and routine.
There are some interesting points to take note of from Regina’s appearance, but here are the top take-aways that I particularly took note of:
- 51% of Energy executives see technology replacing tasks so employees can focus on strategic activities
- With 54% of Energy executives indicating their 2018 plans are to execute on M&A activities, their interest lies in growing the business without necessarily increasing their headcount. In order to achieve this approach, they are naturally looking for emerging technologies as a strategic key in shifting staff from maintaining repetitive tasks.
These take-aways are undoubtedly relevant, and supportive, to the energy ecosystem’s growing interest to look to technologies as equal weight in the strategic recipe for success. But, as it relates to FuelNOW, this is another great supporting voice that somewhat answers the question I am commonly compelled to answer when people ask, “Why is FuelNOW establishing the leading digital technology stack in the energy ecosystem?” Short Answer: The ecosystem wants it… the ecosystem needs it.