PRA SUPPORTS EDENSURE’S ‘WET STOCK REVOLUTION’
Martin McTague joins PRA’s Wet Stock Committee
Edensure, pioneers of ‘ES3’, the UK’s most advanced wet stock monitoring service, has received support from the Petrol Retailers Association (PRA) in its bid to set a new benchmark for the wet stock monitoring industry. The company is calling for the UK’s wet stock monitoring industry to raise data reconciliation standards in line with ES3.
The announcement follows Edensure’s recent ‘500 times a day’ campaign, which highlights the number of average daily checks performed by ES3, compared to other wet stock monitoring services. Edensure has received full support from the PRA on its drive to improve retailers’ efficiency and profitability, as well as helping to establish more accountability between retailers and suppliers.
Crucially, ES3 equips retailers with the knowledge they need to negotiate supply contracts based on reliable stock records, a move which Martin McTague, Edensure’s managing director, believes will lead to greater transparency and openness in the industry:
“Petrol retailers have traditionally thought of stock losses as an unavoidable cost of doing business, something that is measured but not managed. We give retailers the means to get these losses back under their control and ensure that suppliers take responsibility for shortages and under deliveries. By using the most accurate monitoring service available in the UK, our customers can maximise their savings and provide the best possible protection for the environment.”
As a result of Edensure’s groundbreaking service, Martin McTague has also been appointed to the PRA’s ‘Wet Stock Committee’, which seeks to make current fuel accounting systems better for retailers.
Ray Holloway, PRA Director, commented: “Edensure’s ES3 service is a monumental breakthrough for the petrol retail industry and the PRA is supporting Edensure’s move to establish ES3 as the new benchmark for the industry. Wet stock loss is a widespread problem which, up until now, retailers have accounted for using daily reconciliation methods.
“ES3 is now helping to level the playing field for small independents by giving them the information they need to deal with their oil suppliers on an equitable basis. The increased accuracy brings greater knowledge and ultimately greater control for petrol retailers, and is also raising standards for the industry as a whole.
“I am delighted to welcome Martin to the PRA’s Wet Stock Committee, which will undoubtedly benefit greatly from his knowledge and experience in the petrol retail industry.”
ES3 has unrivalled accuracy in the UK and enables fuel retailers to make significant savings, increase forecourt efficiency and avert potential environmental problems by quickly identifying the exact source of all wet stock loss on the forecourt.
Edensure’s ES3 service is completely remotely managed. Customers receive easy-to-understand monthly analysis reports, which give a comprehensive breakdown of tank and dispenser loss and detailed delivery audits. The service retails at a monthly cost of £130.00 (plus VAT). Customers can purchase online at www.edensure.com or by calling 0845 226 8332.
ENDS
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Admiral PR & Marketing
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Ref: PR03
Notes to Editors
Edensure Ltd
Edensure was founded in 2003 by Managing Director Martin McTague. Formerly known as eGasStation Europe Ltd, Edensure has invested four years in developing fuel monitoring technology first used in the US and adapting it for use in the UK market – Edensure ES3.
Edensure has an exclusive partnership with US analysts Warren Rogers Associates (WRA), recognised worldwide in wet stock analysis and original inventors of Statistical Inventory Management (SIR) over 20 years ago.
Edensure has official accreditation from the National Weights & Measures Laboratory (NWML).
Edensure ES3
Edensure ES3 is a remotely managed wet stock analysis service. Using the most sophisticated analytical techniques available worldwide, ES3 is the most accurate and advanced wet stock management tool available for UK forecourt retailers.