As it ties up with Mahindra Satyam to back its expansion plans outside of North America, FuelQuest is planning to sell its real-time fuel-time management, tax automation and compliance solutions for oil industry stakeholders in India.
Mahindra Satyam, which set up a service centre for FuelQuest, will help the US firm in developing tax automation system to suit Indian requirements. Mahindra Satyam has about 2,000 employees working for energy and utilities vertical.
“We have just appointed a business development manager. We have lined up meetings with 12 oil firms at the upcoming petroleum forum at Goa. We have done some basic investigation of tax structure here. It fits well in our solutions,” Mr Matt Tormollen, President and Chief Executive Officer of FuelQuest, told
Globally, thefts account for losses to the tune of 10 per cent. The issue of contamination too was a big problem in different countries. “Our solutions help them manage fuel flow and ensure accuracy with regard to complex taxation issues. We will ensure complete automation of inventory and real-time visibility,” he said.
No budget cuts
Mr B K Mishra, global Business Head (energy and utilities) of Mahindra Satyam, said the company heard of no budget cuts by oil and gas firms in an slowed down environment. “When they plan something new, IT component is no longer as an additional factor. It is an integral part of their business plan,” he said.