Two years ago, fuel prices were setting record highs, forcing business fleet managers to focus only on daily operational expenditures. Over the past year, fuel prices have come down from their peak and companies are using this opportunity to purchase new fleet vehicles, reflected by most major auto manufacturers reporting consistently increased auto and truck sales. To offset these purchases, fleet managers recognize the need to optimize daily fuel savings and are turning to the Global-Fleet Fuel Card to provide the solution.
“While many businesses sought out our fleet card’s savings features when prices were so high, refining daily spending is still a top priority. After all, it still is a very difficult economy,” explains Keith Stone, Global-Fleet President/CEO. “While lower fuel prices may have offered an apparent opportunity, they are still very volatile, especially when unexpected disasters such as the Gulf oil spill occur. Every business still needs to strive to optimize their fuel expenses, especially those who have recently made major investments in new vehicles.”
The Global-Fleet Fuel Card offers a unique set of enhanced card controls and reporting features that can help fleet managers realize savings up to 15%. Beginning with the ability to assign cards to a specific vehicle, driver, or a combination of both, spending is further controlled by PIN and odometer prompting. Each card may also include customized limits on the number of transactions allowed per day and/or month and spending amounts.
“By customizing the controls, each fleet business can optimize both operating procedures and expenditures,” added Stone. “Unauthorized spending is still a problem and it may be necessary for one company to require a number of point-of-sale prompts before a purchase is allowed. For other companies, carefully monitoring detailed exceptions is critical to cutting costs.”
Global-Fleet customers can define specific exceptions to be monitored, and will receive automatic emails when exceptions occur. Some exceptions may include time of day variances, purchases in excess of the fuel tank capacity, purchase decline notifications, as well as the ability to track mile-per-gallon inconsistencies, pattern discrepancies, and product variances.
While fuel prices may have come down from the highs of recent years, the market is far too unpredictable to bank on continued lowering costs. More than ever, fleet businesses that have taken advantage of the lower prices by investing in major expenditures, such as new vehicles, need to reduce and optimize their daily fuel costs. To do so, many are turning to Global-Fleet to provide the solution in unparalleled spending controls and reporting features.
To learn more about the Global-Fleet Fuel Card, visit www.global-fleet.com.