Trucking businesses and any other business that makes use of a fleet of vehicles like the construction companies need to control their fuel costs to run the businesses profitably. Since fuel constitutes the majority of the operational costs, together with the allied cost of maintenance and repair, it can determine the fortune of businesses, which is why controlling fuel costs is most critical. The easiest way to control fuel costs for any vehicle fleet is to use a fleet card.
The main attraction of fleet cards is that it helps to save money by allowing users to avail a discount of fuel, but many other reasons are no less appealing for the users.
Lower fuel cost
Attractive discounts are available for buying fuel by using fleet cards instead of paying by cash or credit cards. The worst mistake is to use credit cards for buying fuel because when you pay by credit card, you are actually paying the credit price which is higher than cash price by almost $0.05 to $0.06 per gallon. On the contrary, when you use fleet cards, you pay at par with a cash price and in most cases better than it by availing discount stipulated in the card which can vary according to the type of card. On average, the cumulative discounts amount to almost $0.30 per gallon saving compared to the credit price. In addition, many fleet cards do not attract any fuel fee.
Protection against fuel theft
Fuel theft is the biggest concern of fleet owners and managers and fleet cards provide the safest way of fuel payment that can put an end to the chances of fuel theft. Cash handling for fuel payment exposes drivers to the risks of robbery, but fleet cards can take well care of the problem as the payment happens online just like credit card payments by using PIN or company DOT number that makes it completely safe. Moreover, fleet cards help to monitor fuel transactions closely and eliminate the possibilities of fuel theft because every drop of fuel purchased is on record and can be tracked real time.
Better fuel cost control
Companies can exercise more control over their fuel expenses by using fleet cards. You can limit the purchasing power of drivers by setting dollar limits on the purchase of fuel and products for repair and maintenance. You can also choose a convenient method of reloading the fleet card either by obtaining approval for credit line against the card from the card issuing company or depositing cash in your fuel account.
Better fuel reporting
Fleet cards are a notch above credit cards as it includes reporting features exclusively meant for tracking fuel transactions that help to understand vehicle performance. The report reveals how the vehicles are performing, the problems it encounters, and what are its maintenance needs. The information helps to track expenses. All reports are available online, and it does away with managing paper receipts and cash vouchers.
You are always up to date with the fuel account that enables you managing the account from anywhere on a real-time basis by using a mobile app.
