Do Fleet Cards Help You With Fuel Economy?
Do you know if your company needs a fleet card?
Do you even know how a fleet card can help you reduce your overall fuel expenses? Finding the right fleet card or making the decision to switch to a fleet card might seem difficult but it does not need to be. As a business owner or a fleet manager, you have a great deal on your mind. Between meeting your short-term budget, setting your long-term goals and getting some work done, the idea of a fleet card may not even be on your radar. But a fleet card can make all the difference – especially when it comes to minimizing your fuel and maintenance costs.
Before fleet cards, businesses had to track their budgets to the very last penny. Drivers would receive large sums of money to fuel their vehicles whenever they claimed to need it. It’s risky to hand someone a large sum of cash for fuel purchases. Receipts help, but when drivers are on the road for a while, receipts get misplaced. Though certainly not the most cost-efficient way of doing business, this was the most common. There was a lot of paperwork, but little control. Benefits of fleet cards
A fleet card can keep both employer and employee free from the suspicion with a fleet card. A fleet card records all transactions; so companies are no longer dependent on drivers for fuel receipts. Fleet cards also have certain security features built into them to help protect against fraudulent activity as they have certain security features built into them. For example, certain fleet cards can only be used at certain gas stations designated by the business owner. Other fleet cards require the employee to enter the mileage of the vehicle on the gas pump’s keypad or present the card to the store clerk. This way, if a receipt is lost, there is a record of the purchase on the card as well as the mileage of the vehicle. These controls along with the access fleet managers have to a system that allows them to pull reports as soon as a transaction is made, will discourage employees from using the card for their personal use since anything that looks suspicious about the mileage can be investigated in real time. Saving money with fleet cards
There are a number of ways fleet cards can save you money-despite the rising fuel costs. For one thing, drivers won’t have to be sent out on the road with large sums of money that they could potentially lose or have stolen. If a fleet card is lost, the card can be immediately disabled so no one else can use it. The card can then be replaced quite quickly, and business can continue without interruption.
In addition, fleet managers can place limits on the card. They can either limit how much fuel is being purchased or they can make the card valid only on certain days of the week (so if no business is conducted on weekends, the card won’t work on weekends). This will prevent unauthorized use and will help drivers to manage their fuel consumption better. Better fuel consumption can also be accomplished by finding shorter routes or routes that are more fuel-efficient.
These are just some of the ways that fleet cards can save you money and provide greater security. Just imagine no receipt stacks, no mileage reports, no reimbursement checks. With the right fleet card, you can track your company’s fuel purchases or spending summaries online, and even block unauthorized purchases. The right fleet card puts the power in your hands, and a fleet card selector tool can put the right fleet card in your company’s wallet.