Forecourt Asset Management Selected to Ensure High Uptime, Save Money and Time and Boost Customer Experience at Convenience Store Leader’s 800+stores
RALEIGH, N.C.--(BUSINESS WIRE)--Nov. 6, 2024--
Vontier Corporation (NYSE: VNT), a leading global provider of critical technologies and solutions to connect, manage and scale the mobility ecosystem, announced today that RaceTrac Inc., a regional leader in convenience and fuel retail and the 18th largest, privately held company in the United States, has selected Vontier’s Invenco by GVR asset management cloud-based solution to remotely manage its forecourt assets, maximizing operational and cost efficiency at its more than 800 stores representing the RaceTrac® and RaceWay® brands in 13 states..
"RaceTrac’s mission is to ensure our on-the-go guests enjoy a frictionless and positive fueling experience,” said Brian Nay, RaceTrac’s director of field services. “Invenco’s asset management helps us deliver a very high level of reliability and consistency, which directly impacts our bottom line by maximizing sales opportunities and building customer loyalty.”
Invenco’s forecourt asset management centralizes and simplifies site management by offering a cloud-based dashboard for real-time access to remotely manage forecourt equipment to maximize uptime and reduce the need for on-site repairs. RaceTrac leverages asset management to deploy over-the-air updates, reduce unexpected costs through preventative maintenance, prevent fuel theft and implement remote fixes.
"We avoided 10,000 truck rolls last year,” said Nay. “That's a big number when you think about what it costs to send out a vendor. This not only reduces operational expenses, but also ensures that problems are addressed quickly, keeping our equipment running smoothly and reliably. In addition, by monitoring this data, we can identify potential issues before they become major problems, ensuring that our operations run efficiently and reducing unexpected repair costs.”
Unlike traditional systems, this remote management solution is a cloud-based platform that also includes Application Programming Interfaces (APIs), enabling seamless integration with Invenco’s, RaceTrac’s, and other third-party hardware, software, and services. APIs enable the automation of work orders, significantly reducing the need for manual intervention. "59% of all work orders are created automatically," said Nay. "This automation leads to improved accuracy and faster issue resolution, allowing our team to focus on more strategic tasks, further enhancing operational efficiency."
“We’re excited to partner with RaceTrac to help them continue to improve their customer experience and operational efficiency,” said Kartik Ganapathi, President, Invenco by GVR. “How RaceTrac uses our asset management platform and APIs to boost business performance is really a template other companies should be following to maximize their results.”
Headquartered in Atlanta, Georgia, family-owned RaceTrac is the 18th largest privately held company in the United States and has been serving guests since 1934. RaceTrac has more than 800 retail locations representing the RaceTrac® and RaceWay® brands in 13 states offering guests an affordable one-stop-shop featuring competitively priced fuel plus a wide selection of food and beverage favorites, including freshly brewed coffee. RaceTrac employs more than 10,500 team members across RaceTrac, RaceWay and affiliated companies Metroplex Energy, Energy Dispatch and Gulf Oil.
About Vontier
Vontier (NYSE: VNT) is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier enables the way the world moves – delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement and innovation built upon the foundation of the Vontier Business System and embraced by colleagues worldwide. Additional information about Vontier is available on the Company’s website at www.vontier.com.
About Invenco by GVR
Invenco by GVR, a Vontier company. is a global leader in the convenience retail industry. Built to help customers adapt and innovate to stay ahead, Invenco by GVR will be the operating system for convenience retail, producing agile solutions for accelerated growth and value. Invenco by GVR Solutions can be found in nearly 165,000 connected devices across 50,000 convenience stores in more than 50 countries. To find out more about Invenco by GVR visit www.invenco.com.
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https://www.businesswire.com/news/home/20241106842385/en/
Media Contacts
Corporate Communications:
Marty Hanna
Vice President, Communications, Vontier Corporation
martin.hanna@vontier.com
Investor Relations:
Ryan Edelman
Vice President, Investor Relations, Vontier Corporation
ryan.edelman@vontier.com
Source: Vontier Corporation
