As we approach the end of 2022, are you looking for some innovative ways to welcome the new year with better productivity and optimized operations? In today’s rush, rush, rush world, any convenience or advantage we can find to make the path a little smoother and more efficient is a welcome one. In a nutshell, that’s what a fleet card program can do for you. If you are managing over-the-road drivers, fleets of work trucks, or even equipment, then you may need to explore the benefits of a fleet card program. Maybe you already have a fuel fleet card program. If so, you should regularly compare the costs and benefits of your program to others available to make sure you are getting the best deal.
A fleet card program is a common way businesses purchase fuel at a retail site. A fleet fuel card is specifically used to purchase fuel and diesel exhaust fluid. They allow you to have more control over your costs associated with OTR drivers or fleet vehicles. It also provides much-needed security in today’s world and gives you that vital thing that’s so important to any successful business: Information
Fleet fuel cards are a great option if drivers frequently fill up at different locations and don’t return to the same location every day. Even if you purchase bulk fuel, a fleet card offers drivers a back-up if they have a long route or during emergencies such as hurricanes so you can conserve your tank’s fuel.
So, how do the best fuel cards help everyone from small businesses to national fleets from day one? Here are five ways fleet cards can help your company.
Whether it's you or your CFO, somebody has to keep a tight rein on what’s going out and what’s coming in – especially in an economy with a potential recession and record inflation. At the end of the day, a business needs to understand where every penny is going to making the decisions that keep you in the black.
Before fleet cards, you and your drivers had to play a guessing game. How much fuel would they need exactly, at what price? You would try to estimate as closely as possible what cash you needed to hand over to your driver. And then hope they didn’t lose it or use it for snacks at the gas station. Or you could give them a credit card and vocalize their limit, hoping they would obey it and not go wild and then disappear.
With the right fleet card, you don’t have to worry about handing over cash or a credit card. You can specify exactly what amount of fuel can be purchased and can even choose to restrict a day or even a time of day the card can be used. You can also specify what products drivers can buy. If drivers are in a diesel truck and they fill up their personal gasoline vehicle, you will get an alert. Another deterrent to employee theft.
Before fleet cards, drivers brought back receipts when they stopped for fuel. If you were lucky. Maybe they forgot to get a receipt. Maybe they lost it. Whether you sent them off with cash for their expenses or they paid and turned in a ticket for reimbursement, keeping track of receipts and what was purchased was a major headache. Sound familiar?
With the right fleet card program, you’ll have access to an itemized receipt every time anyone uses one of your fleet cards. This enables you to know exactly what was purchased and where. You’ll have an inside track to what your employees are doing while on the road along with simple and timely billing from your supplier.
The most important way fleet cards save is in time. Time is money and wasted time equals less productivity and efficiency. Drivers who use fleet cards tend to get in and out of fueling stations faster than those who must go inside to pay with cash. With nearly 120,000 gas station in the US, there are plenty of options when it comes to getting fuel fast.
Be mindful that fleet cards commonly have transaction fees that are often hidden. The best fleet card programs have a transparent, itemized bill.
There are many ways fleet cards enhance your level of security when paying for fuel and other expenses from afar. Just like with a credit card, you can cancel a fleet card at any time. Since you’ll be monitoring the card’s usage you’ll be able to spot inconsistencies or anything that looks suspicious and take immediate action. Our previous example of a rogue employee who suddenly goes missing is a perfect example. You can take action to protect the financial safety of your company as soon as you notice anything amiss. With the added protection of putting spending limits on a card, you can almost guarantee that there won’t be an open line to your bank in the wrong hands.
You’ll want to choose a fleet card program that allows you to monitor your cards and drivers no matter where they are and where you are. You should be able to see exactly who is using your cards (with an employee PIN), where they’ve stopped, what they purchased and much more.
In addition, with generated reports from your fleet card program available online, you and your business partners will gain valuable insights and information to help you make the critical decisions about your operation. If you’re like most businesses these days, you cannot put a price on this type of analytics. You’ll be able to improve efficiency, gain control over spending, learn what’s working and what isn’t so you can formulate best practices going forward.
As we said, whether you want to begin a fleet card program as part of your company’s New Year’s resolutions, or you already have one but want to do some comparison shopping, at Bear Oil Company we have your fleet card solutions. We have helped setup fleet cards for everyone from small businesses to truckers for more than 80 years. Just because we’ve been partnering with companies like yours for a while doesn’t mean we aren’t on the cutting edge of innovative and technology that will provide convenience in this hurry-up world. We’ll take the time to listen to your concerns and goals and help you find the solution that fits your unique challenges Providing friendly and transparent service along the way. Give us a call today at 210-494-3479 or visit our website for more information.
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