Using Fleet Card Services to Save Money with Optimized Fuel Purchases
There are many fleet managers that struggle daily to keep an accurate read on just what is happening with the vehicles under their control. This is true in smaller companies with just a few cars or trucks or in national or international transportation or freight companies where hundreds of vehicles may be on the road at any one moment in time. Fleet card services provide a range of tracking, monitoring and security options that allow fleet managers to control the expense of keeping vehicles on the road while still providing immediate money saving options.
Savings can happen immediately when you start using fleet card services to track and monitor your drivers. While most drivers are conscientious and follow company policy with regards to vehicle use, it only takes a couple of people to really add dollars to your budget by using the vehicle outside of the policy. This may include using the vehicle for personal travel or transportation or even lending company vehicles out to others. Fleet cards that require the odometer reading to activate the card are a good way to ensure that the vehicles are only being used for company business.
Another way that these services can help to optimize your company’s fuel purchase is that they prevent the type of theft or fraudulent charges that are common with gas credit cards. The fleet card can be set up to only allow specific types of fuel, grades of fuel or amounts of fuel per day. For example, you may set the card to a specific grade of fuel as well as a dollar value based on the miles traveled per driver. Once the card has been used to that level it cannot be used for another purchase. If the driver is using the card for something else it will not run and the attempt will be flagged on a report that is immediately available online for the review of the fleet manager.
Immediately you will also begin to earn discounts for the gas you buy as per the fleet card services agreement. Different branded cards allow you discounts from major gas companies at a variety of service stations depending on the specific card that you choose. You will pay less at the pump, even when using unmanned fueling stations, allowing you to see cost saving results with the very first fill. Of course, these cards are also used for vehicle maintenance and repair as pre-set by the fleet manager. Service companies may offer discounted rates for basic maintenance as well as additional perks for using their services exclusively for your fleet. Shopping around and taking a look at what different companies and different cards offer will give you a more comprehensive idea of what you can expect in the way of savings.
Although not immediate, rebates on a monthly basis that are determined by the amount of fuel purchased also provide very quick savings. These rebates may be capped at a specific level, typically with diesel purchases, or they may only kick in after a specific volume has been purchased of a listed type or grade of fuel. Again, knowing what you need and your company’s fuel requirements will be essential in choosing the right card.
Choosing a fleet card that has the fleet card services you need does take a bit of research and a good understanding of your current and anticipated fuel use. Just keep in mind that most companies offering these cards provide detailed information on their websites, allowing you to do some comparison shopping before deciding.
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