The Benefits of Fleet Fuel Cards
With the growing demand for products, the necessity for freight transportation and logistics is increasing. This need creates opportunities for new small businesses in the trucking industry but steep competition makes survival super hard. Being better than your competitors and in tune with current industry trends is important, and so is embedding solid business model and good business strategy into your company’s DNA. However, all these factors are not enough to keep existing in the margin-hungry market. And neither is being cheaper and slashing your margins to a silver. It all comes down to one thing – know your expenses.
But with the unpredictable costs (such as repairs related to truck and trailer breakdown), it’s hard to have a really good handle on the expenses, you say. And you’ve got a point there. However, there are ways to take control of at least one. Take a careful look at the fuel cost side of the equation.
With fuel being one of your largest expense, leaving employee fuel purchases unsupervised can easily kill your profits. And chasing after more loads will not really make an impact on your firm’s bottom line profitability. Hence it only makes sense to closely monitor fuel consumption. But how, you ask. Three words – fleet gas cards.
Fleet gas card program is a fuel-management system designed for easier tracking of the expenditures which can help decrease costs and increase efficiency. In a sense, with gas cards you can predict (to certain extent) the unpredictability of fuel cost. Aside from having greater control over fuel spending (but still giving your drivers flexibility on the road), fleet gas cards offer other benefits as well.
Valuable Discounts Worth Your While
Most fuel cards offer rebates, either based on the percentage of gallons or on high volume. They also offer updates on gas prices ensuring your drivers find the lowest ones every time. Plus, your drivers will be paying cash price at the pump, meaning they’ll never have to pay full price again. A few cents per gallon discounts may not seem a lot but over time savings can add up and your small business could be saving thousands on fuel.
Universal Coverage for Superior Convenience
Depending on the provider, gas card program offers access to the wide network of fueling locations. This means that your drivers will spend less time searching for gas stations as they’ll never be too far to fill up.
Three Ws – Who, When and Where
The biggest advantage of fleet gas cards is improved security. All cards are PIN protected preventing unauthorized fueling. Because of the unique personal identification number which drivers are required to input every time they swipe their gas card, you’ll know when and where every fuel purchase is made and by whom. Also, the comprehensive reporting with real-time updates on drivers and fuel transaction activity will give you greater control over your fleet and fuel spending.
Less Paperwork with Single Consolidated Invoice
Say goodbye to paper receipts! A fleet card program will provide you with a detailed summary of all transactions broken down by gas station location, date, time, gallons of fuel filled and the amount spent eliminating the manual task of receipts submission. Simply put, you get all the data with a single click. This means no lost receipts and less paperwork. And the exhausting process of reconciling all monthly proof of fuel purchases will no longer be hard work nor take lots of time. You’ll easily monitor total gas spending, plus you’ll also save on personnel time (manual entering of the data into the system) and