How a fuel card can benefit your business
Many fleet managers are switching to fuel cards to save money and make their fleet operation more manageable.
From cutting down the time spent on administration to increasing your level of control, here’s how a fuel card can benefit your business.
Using a fuel card has many advantages, but the financial savings are by far the biggest one. It’s important to find the right fuel card for your fleet, for example, a small business will have very different needs to a larger one, especially if it has a mixed fleet. However, no matter what business you are working in, a fuel card will help you to manage your employees’ fuel costs and could save your company a considerable amount of money each year.
Not only will you receive discounted fuel prices at the pumps (depending on the card you opt for) you will also be able to completely manage and monitor your company’s fuel expenses across the board.
As well as financial benefits, fuel cards will also save your business time by cutting down on administration. There will be no more wading through piles of receipts and expense claims, as fuel expenditure will be in one place, in a single HMRC compliant invoice.
With a fuel card, you can monitor fuel usage for all vehicle types, identifying any that are over or underperforming in terms of fuel usage. You’ll be able to monitor which drivers are buying the most fuel, the prices you’re receiving and the fuel sites your fleet is using. This offers a wealth of insight which can be used to make further savings, as well as identifying any specific inefficiencies.
When a company uses the pay and reclaim method, it is easy for employees to take a detour or increase their mileage to maximise the amount reclaimed. With a fuel card this becomes more difficult, as drivers report overall mileage which feeds into management information reports, making it easier to track vehicles fuel usage and identify anomalies. Additionally alerts can be set up to notify when unusual activity occurs. In other words, you will have full visibility and control.
If you follow Allstar on social media, you will notice that we constantly talk about how we are much more than a fuel card. That is because we don’t just facilitate payments on fuel but on related services including tyre replacement, windscreen repair and the M6 toll.
This means that rather than having several different companies looking after your fleet, it can all be billed and handled by one. This makes it easier for both your fleet manager and the accounts team.
Find out why Allstar is so much more than just a fuel card here.