Companies that own fleets are faced with the challenges of managing the vehicles’ maintenance to keep them in good working order as well as tracking and reimbursing drivers for fuel. This can be a tedious task that affects overall job efficiency. Many are unaware that fleet cards can organize these expenses while saving the company money and alleviating the administrate burden that comes from these daily responsibilities.
For drivers, a fleetcard works pretty much the same way as a regular credit card; however, it has some incredible security features that put the controls firmly in the hands of the fleet managers and business owners. Fleet card eliminate the need for back-up receipts and cash reimbursement because every transaction is recorded and can be restricted to company established locations, amounts, transaction times and items.
In past, companies would provide their drivers with cash to pay for fuel and maintenance expenses whenever the driver thought it was necessary. Unfortunately, many drivers would take liberties with this process and engaged in fraudulent activities or carelessly lose receipts and create unnecessary accounting problems. With fleet cards, drivers can pay for the fuel and repairs without needing to worry about cash or a paper trail. Since mileage, fuel consumption, limitations on the number of transactions and suspicious usage of the card can be monitored in real time by managers; only the essential expenses are accepted leading to significant savings for the company with every trip taken.
Fleet cards can be customized to suit every business need and can be used globally or within the designated area that a company operates. With the introduction of fleet cards, companies are better equipped to plan and budget their transportation expenses accurately.
Essentially, a fleet card allows the business to effectively manage fuel requirements and keep a tighter and better control on the complete fuel expense cycle. Professional fuel management systems can benefit a business owner in terms of overall fuel strategy for the fleet.