5 Mistakes that Cost FBOs Money

By Daiana Basanta, Marketing Lead at X-1FBO

1. Misfuelling Due to Manual Entry

This is one of the most common issues that results in the FBO having to waive revenue to compensate for fueling mistakes. Not only can it be a cash loss, but also one of the worst ways to lose a loyal customer. FBOs should invest in fuel automation technology in order to avoid misfuelling and excessive paper ticket trails. The main goal should be to streamline all fuel transaction information to the main point of sale system to avoid manual errors.

2. Invoicing Errors

How often does your accounting department find invoicing issues that will take too long to fix? Choosing the right POS system with rules-based pricing can be the alternative to having the staff look through a price sheet binder while reducing the chance of making manual pricing mistakes.

3. Multiple-Program Operation with No True Integration

Having the staff enter services, track them and bill them using 3 different systems at once is time-consuming and inefficient. Investing in cloud-based technology that integrates all instances of the operation to the main point of sale system, is the start to having a well-functioning FBO operation. The benefits of proprietary FBO software of this sort can offset implementation costs minimize errors as opposed to having multiple programs with no interconnection.

4. Not Using the Right POS System

By not having online transactions you might find yourself delaying payments and chasing debts longer than you should. Whether you are an independent FBO in need of processing tools or a large chain looking to get paid faster, choosing the right POS system is a must! FBOs with processing tools that allow mobile payments or automatic statement payments, all while saving in processing fees, can get paid up to 20% faster and improve the cash flow.

5. Systems that Require Long Training

When you need to take your personnel away from their duties for ‘X’ hours during the week to learn all the programs they need to work with… it is an indication that your training budget may not be well managed. Intuitive FBO software solutions that adapt to the FBO operation are becoming more self-sufficient, reducing the time spent to train users. The ideal FBO software solution also allows users to learn while integrating it into their daily work.

Are you afraid of change?

Changes can be frightening, but if they result in a SMARTER way to run your FBO, then it is worth the challenge. The FBO business is re-adjusting to new models and shifting to cloud-based technology solutions to maximize profits. Knowing where the flaws of your business are, is just the wise way to get it to the next level and stay in the game.