How do Fleet Credit Card makes for a Smart Business Solution?

Thursday, February 14, 2019, 6:00 AM | Leave Comment

There are a few questions to consider when you are thinking of fleet credit cards:

  • How many vehicles are there in your business fleet?

  • Do you need diesel, petrol, or gasoline as your fuel?

  • Do you operate locally or statewide?

  • Do you need maintenance and repairs too?

  • Is it also important for your drivers to bear non-fuel costs too?

  • Do you face any problems with theft?

  • Use of fleet cards

    Identifying ways to reduce your expenses and maximize your productivity and fuel efficiency is important for any business to succeed. For a construction business or an FMCG, fuel can be one of the most costly, but mostly overlooked expense. To better manage this, now many businesses are using fleet credit cards as an ideal way to save cost and manage fuel expenses.

    These fleet credit cards not only help to fill fuel and meet allied expenses but will also allow the manager to get customized reports and have better accounting for fuel expenses and maintenance needs. In a typical business fleet environment, each drive will be given with a fleet credit card with a unique PIN to meet their work-related expenses.

    At the month end, or term based on your requirement, the fleet credit card providers will give you details reporting and essential cost-control insights, which a regular card may not be able to provide. It is proven these analytical capabilities will let business to have a 10 to 15% savings on fleet expenses over the first year of owning the fleet card itself. Companies which operate a bigger fleet may be able to benefit more from the usage of fleet credit cards.

  • Theft control

    With oil pricing increasing day by day and the recession hitting many people badly, there is a temptation to any employee who is handling your assets to make some adjustments for personal financial benefits. Company theft can be there in various aspects of your business, which should be monitored properly.

    A fleet credit card can ideally help in this aspect too by letting the fleet drivers do all their financial transactions using it with high accountability. They can use it for filling fuel and also purchase other convenience store items using this.

    The other vehicle-related expenses can also be met with it. The administrators who get a detailed report of the credit card usage can easily identify any unauthorized or irrelevant behavior and take measures to prevent such things.

  • Fleet driver support

    Standard fleet credit cards from the top providers offer employee support also along with the above benefits. For the business operating on a cash basis, the drivers have to pay out of their pocket for the expenses and later have to claim for a reimbursement which is sometimes embarrassing too.

    On being issued with fleet credit cards, they need to have to carry any money to meet their expenses but may get everything covered. It also eradicates the hassle of maintaining the bills and receipts too to claim for reimbursements.

Premium fleet credit cards offer many additional benefits too the clients like 24 x 7 call center support, emergency breakdown assistance for vehicles, subsidized service charges, amenities and privileges to the drivers, etc.

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