FLEETCOR Technologies, Inc.

FLEETCOR Technologies, Inc. Overview

Company Headquarters: US

Founded: 2,000

Workforce: ~8,000

Company Working: FLEETCOR Technologies, Inc. (FLEETCOR) is a leading global business payments company that helps businesses spend less by enabling them to better manage their expense-related purchasing and vendor payments processes. It is a global business payments company that provides payment solutions for various industries, including healthcare, transportation, and lodging. The company's solutions help businesses manage their expenses, automate their payment processes, and improve their overall financial performance. In the healthcare industry, FLEETCOR Technologies, Inc. plays a significant role in digital payment processing by providing virtual card payments and other payment solutions to healthcare providers, payers, and patients. The company's virtual card payment solutions are designed to streamline the payment process, improve accuracy, and reduce administrative costs for healthcare providers and payers. FLEETCOR Technologies, Inc. also offers a suite of payment solutions for patients, including patient financing and payment plans, which allow patients to pay their medical bills over time. These solutions help healthcare providers improve patient satisfaction and reduce the financial burden on patients. FLEETCOR powers the global business payment industry, processing billions of transactions each year in more than 100 countries. Tapping into the network of more than 800,000 vendors who already accept electronic payments.

Strategy

FLEETCOR Technologies, Inc.'s key strategy is to expand into new markets and industries beyond its current focus. The company aims to achieve this by leveraging its existing strengths in payment processing and analytics to identify new opportunities and develop customized solutions for customers in new verticals. By expanding its offerings, FLEETCOR Technologies, Inc. can increase its revenue streams and diversify its customer base, reducing dependence on a few key customers. This strategy also allows the company to stay ahead of changing market trends and customer needs, while maintaining its position as a leading provider of payment solutions globally.

Company Snapshot

8,000

Employees

US

Headquarters

SWOT Analysis

Strengths

Diversified payment solutions across various industries
Strong financial performance and revenue growth
Strategic acquisitions to expand its offerings and customer base
Robust data analytics capabilities to enhance payment processing
Strong global presence and expanding customer base

Weaknesses

Limited brand recognition and market share in some regions

Opportunities

Development of new payment solutions to meet evolving customer needs

Threats

Cybersecurity risks and potential data breaches

Key Developments

Date	Approach	Development
January 2023	Acquisition	FLEETCOR Technologies, Inc. acquired Global Reach Group, a cross-border payments provider company. FLEETCOR expands its cross-border payments scale and improves its position as a major non-bank B2B worldwide cross-border payments provider with this acquisition.
August 2022	Acquisition	FLEETCOR Technologies, Inc. acquired Accrualify, Inc., a provider of accounts payable automation software. The Accrualify purchase expands FLEETCOR's payment solution offering and boost up its corporate payments platforms capabilities.
June 2021	Acquisition	FLEETCOR Technologies, Inc. acquired Associated Foreign Exchange (AFEX), a supplier of international cross-border payments. FLEETCOR expands its corporate payments range of business and improves its position as global business payment firms by purchasing AFEX.

Product Offering

FLEETCOR Technologies, Inc.
- Global Digital Payment Market

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