A fleet fuel card provides various business benefits that can make your company more efficient and profitable. For example, most fuel cards provide thoughtfully designed dashboards integrating expense and IFTA reporting so fuel taxes are easily tracked and paid.
Additionally, many cards offer substantial discounts on fuel purchases. These savings add up over a year.
Real-Time Reporting
Fleet fuel card allows companies to track and manage expenditures continuously. From sole traders and independent contractors to SMEs and large enterprises, fleet managers can leverage these cards for control, expense savings, and detailed reporting.
Rather than manually tracking mileage and other transactional data, most fleet fuel card programs provide users real-time transaction data in their online dashboards. This allows for better fleet cost oversight, eliminates expense report processing delays, and keeps everyone accountable.
A robust dashboard also lets you set purchase limits based on geographic areas (by state or zip code), fuel type, and time of day/week. You can even get reports highlighting which drivers are purchasing beyond their approved limits so that you can take action.
In addition, many of these cards offer a telematics interface, which gives you more detailed information on your vehicle and driver performance. This is another factor driving market growth over the forecast period.
Increased Productivity
Trucking is a hard-working, demanding industry that requires much time on the road. Fleet fuel cards allow companies to control and monitor spending from the comfort of a computer in their office instead of having drivers constantly track costs and budgets while on the job. This frees them up to focus more on their jobs and creates loyalty in the company by reducing time spent on unnecessary tasks.
Fleet fuel cards also allow access to data at most brand-name gas stations, including price per gallon, driver ID, location, and odometer readings. This provides a more robust picture of fuel efficiency and allows businesses to identify areas where they can improve spending.
Some fleet fuel cards even give users access to a savings network that offers valuable rebates on other products and services such as parts, maintenance, tires, and hotels. This can greatly increase overall savings for your business and help you manage expenses and budgets more effectively.
Increased Customer Satisfaction
When it comes to reducing the amount of time fleet managers spend on administrative tasks, fleet fuel cards are a great solution. Transaction data is automatically tracked and uploaded to an online dashboard using a fleet fuel card for easy reporting and expense management. Many cards also offer a range of additional reports, including compliance and driver performance metrics.
In addition to easily tracking and reporting on fuel expenses, many fleet cards provide a range of other savings on business-related purchases like vehicle parts, tires, maintenance services, and more. The best fuel cards will give you access to a wide network of vendors for increased savings.
Fleet fuel cards are a smart investment for small businesses with a handful of trucks or full-scale national operations. They can help reduce business costs, improve productivity, and attract new drivers. The most important thing is to find a fleet fuel card program that provides the features and benefits your company needs. A good place to start is by evaluating each card’s network size, real-time reporting, and security options.
Increased Employee Satisfaction
Fleet fuel cards can help companies save on operational costs, especially fuel and vehicle maintenance. Cost savings may seem small, but over a year, they can add up and help businesses hire more workers, purchase newer vehicles, or provide employee incentives for increased performance and productivity.
Fuel cards make it easier for fleet managers to control company spending with real-time tracking and reporting than traditional gas purchasing methods and other business-related expenses. Look for a card that provides an online dashboard designed with expense management in mind, with the ability to customize reports and set up exception alerts.
Some cards allow you to set policy settings at the driver or vehicle level, with restrictions such as transaction limits per day and week and requiring odometer readings for every transaction. In addition, many cards provide a locator feature so drivers can see the locations of the most convenient gas stations for their line of work. This helps eliminate unnecessary driving and fuel waste and keeps vehicles light, as heavier loads impact fuel efficiency, particularly roof cargo.
Increased Security
Fleet fuel cards are more secure than cash and credit cards. They are tied to specific drivers and require a PIN at the Point of Sale, which protects the professional driver against fraud and misuse. In addition, most fuel card programs provide purchase controls and other parameters based on fuel type, date range, and fuel station. Combined with fleet vehicle GPS solutions, these tools ensure that companies know exactly what is being purchased and when.
Finally, fleet fuel cards offer various reporting features to keep companies informed. Fleet managers can access spending reports and MPG calculations via an online account or dashboard, allowing them to replace educated guesses with data-based budgeting decisions.
Many fuel card programs can automatically upload transaction information to accounting systems. This removes the need for manual paperwork and streamlines expense management. This helps to save time, increase accuracy, and reduce the risk of errors and inconsistencies. As a result, the convenience and security of fleet fuel cards make them an excellent choice for trucking companies looking to improve their bottom line.
