Top 3 Benefits of Using a Fleet Fuel Card Program
Every fleet manager knows that fuel costs can overshadow other operating expenses and often without the ability to monitor for inappropriate spending or track expenditures for the sake of reporting. When basic credit or debit cards are used, it leaves the door wide open for fraud and overspending that goes unnoticed due to this lack of monitoring and accountability.
Implementing a fleet fuel card program creates efficiencies and controls that ultimately benefit both drivers and fleet managers while also creating measurable cost savings opportunities through discounts at the pump and low-price locator tools while on the road.
Here, we give you the top 3 benefits of using a fleet fuel card program, which is just the beginning of how to keep your fleet on the right course and your company spending under real-time control.
- Universal Acceptance
Universal acceptance means the fleet fuel card is accepted at nearly all national and regional locations. That translates into an immediate cost savings resulting from drivers no longer running out of gas or accumulating extra miles searching for an accepting location.
- Purchase Control
One of the biggest concerns of fleet managers is the prevalence of credit card fraud and misuse by drivers. Without purchase controls, drivers can inevitably find ways to skirt the system with add-on purchases of fuel or convenience store items. Implementing a fuel card program allows fleet managers to track and enforce company purchasing policies.
With a fleet fuel card program, fleet managers can control the who, what, when, where and how much of driver spending.
Who – Set limits based on specific drivers or certain vehicles
What – Control the purchase of diesel versus unleaded fuel
When – Restrict purchases to certain business hours and prevent unauthorized use for late night convenience store purchases or personal gas runs
Where – Create parameters for spending within certain states or zip codes to prevent unauthorized usage for weekend getaways outside of work routes
How much – Limit the number of transactions and the amount of each purchase that can be made each day to eliminate unauthorized add-on activity
- Reporting and Tracking
Online capabilities offer a bridge between the fleet manager and drivers where user profiles can be created with real-time controls that include tracking and reporting. Subsequently, administrative workloads can be cut in half when the hunt for receipts is eliminated and custom reporting transitions to a fully automated process.
Once the fleet fuel card program is in place, good customer service will be the pinnacle of your company’s success. Fuel card specialists understand fleet card programs, how they differ, and what is appropriate for different companies with varying fleet sizes.
Ultimately, if you want to improve your expense process, streamline reporting, and prevent unauthorized purchases, you need a credible global-fleet fuel card program backed by an industry leading fuel card specialist. Gain control of your fleets and your finances today.