Trucking companies and other businesses that manage a fleet of vehicles constantly face expenses that must be managed on a daily basis. Fuel and maintenance costs are often high, which is why a universal fleet card comes in handy. It also provides a means to control expenses and report on purchase and driving activity. Managers can see every transaction as soon as it is made. The card can be used for more than purchasing fuel. It can also be used to pay for maintenance at authorized merchants.
Benefits include the ability to manage expenses, because each transaction is recorded. The detailed reports include every purchase as it is made, so managers know where and when a driver paid for fuel or repairs, and how much they spent. Also, drivers do not have to carry as much cash, reducing the chances of theft and lost finances. It’s also much more difficult for anyone to make other purchases with cash reserved for fuel, and the chances of fraudulent charges are reduced as well.
Using this type of card helps operators locate fuel stations easier. It is much less likely that drivers will get lost, or go long distances out of the way to find a place to refuel. This can take up valuable time and certainly lead to expending more gas on the way. In addition to enabling more efficient driving, the card also offers eligibility for wholesale fuel prices, further saving on the costs of fueling and maintaining a fleet. In many cases, the savings come in the form of a rebate on the total fuel purchases made.
Also among the list of cost-saving facts is the reduced paperwork. With an automated system that can track and report on vehicle activity, everything is sent to and stored on a computer. This reduces the need for physical storage and to replenish supplies. Managers can also restrict and modify the use of the card by adjusting how much can be charged on it. These adjustments can directly reflect the company’s budget, and prohibit additional expenses from being added on. Limits can be set according to specified time periods, like a day, a week, or longer. If necessary, the card can be blocked from the main interface.
Stats can usually be accessed by logging online, so the data are kept in a safe location. Reports include information on the vehicle and when repairs or refueling took place, while complete invoices are available to view any time. The miles per gallon of each vehicle, and the activity on the card, can easily be assessed by viewing the interface. Administrators can also track and analyze purchases for each location, providing further insight into the activity and whereabouts of the driver at specific times.
Another benefit of a fleet card is accessibility. Many times it can be used to purchase fuel anywhere a popular credit card is accepted. There is often a choice of plans or specific cards also. Some of them are intended to be used at particular gas stations, but many universal cards can be used in well over 100,000 locations. Savings per gallon also varies depending on the card. Company size can also influence the decision on the type to get.
With membership fees typically affordable, a universal fleet card can also immediately alert the main office of unusual activity. Even if someone attempts fraud, suspicious activity is visible right away, so any cost on the company can be minimized. This fleet option can be used in a similar way to a credit card, but it offers many unique features and advantages for businesses, especially those that contribute to financial savings.