Dead River will deploy the Zytax compliance solution to automate [image-nocss] its state fuel tax filing processes, enabling them to efficiently meet the requirements of the jurisdictions in which they operate.
"As a bulk distillate company, we needed a solution that addressed all of our business needsnot just our fuel retail needs," said Dick Roderick, senior vice president of Dead River. "FuelQuest is that solution. It will address the needs of our entire supply chain, automating all of our processes, including tax compliance, allowing us to focus on our customers and their energy requirements."
Leveraging FuelQuest's on-demand software solutions, Dead River will be able to:
Maintain accurate inventory management with demand forecasting. Minimize the cost of procuring spot quotes without jeopardizing contractual allocations. Accurately reconcile supplier invoices, reducing the incidences of billing errors. Monitor daily and cumulative inventory variance in bulk terminals for improved inventory control. Decrease the number of unplanned split loads, retains and runouts. Enhance compliance accuracy and efficiency and mitigate risk. "FuelQuest is pleased to add an established and well-respected leader like Dead River to our expanding Northeastern client base," said Matt Tormollen, president and CEO of FuelQuest. "Our collaboration with Dead River further validates our solution fit to diversified distributors and broadens our solution coverage for bulk inventory management across multiple products including heating oil and propane."
FuelQuest's Fuel Management System (FMS) is a comprehensive, end-to-end supply chain solution focused on reducing the cost of procuring, managing and accounting for bulk fuel. FMS powers a major fuel management network in North America with more than 15 billion gallons managed annually.
The Zytax compliance solution is used by more than 600 customers to automate accurate reporting and payment to the appropriate state and federal jurisdictions, and processes more than $65 billion in excise motor fuel taxes annually.
Houston-based FuelQuest provides on-demand, web-based fuel supply chain management and tax automation software and services for fuel suppliers, distributors and buyers in global downstream energy. Zytax supplies strategic software automation solutions for indirect tax determination and excise motor fuels compliance for the energy industry. Zytax processes billions of dollars of motor fuel excise taxes per year.
Portland, Maine-based Dead River is one of the largest distributors of petroleum products in northern New England. Its offerings include a variety of petroleum products on both the wholesale and retail levels, including home heating oil, kerosene, diesel fuel, propane and gasoline. In addition, its professionals provide 24-hour burner service and heating equipment installations. Dead River offers an array of services and payment options, including credit privileges, budget plans, automatic delivery, service plans and price protection plans. It also owns and operates a number of convenience stores located throughout Maine.
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