Does Your Fleet Need a Fuel Card Program?

Posted by PS Energy Group on Jun 20, 2017 10:00:00 AM

Determining how your drivers pay for fuel at the pump can mean the difference between saving money and improving efficiencies or spending large chunks of your day tracking driver expenses manually.

And, who has time for that?

Making better use of your time and money by identifying solutions that reduce expenses, streamline operations, maximize workforce productivity and keep troubles at bay is essential to operational success. That’s where fleet fuel cards come into play, eliminating cash and conventional credit cards for driver purchases, and replacing them with a trackable, more efficient option.

Out with the Old – On the Road with the New

Fleet fuel cards are like credit cards and allow drivers to make fuel, maintenance or other purchases within a network of authorized merchants. Unlike conventional credit cards, fleet fuel cards provide detailed reporting and customizable purchase controls that help eliminate expense tracking headaches and costly inaccuracies. 

With a fleet fuel card program, each driver is issued a card with a unique PIN number, giving you the ability to easily match individual drivers with purchases.  

There are many fleet fuel card providers in the marketplace, with varying programs. Before diving in and selecting a provider and program, first determine your needs and the benefits you are looking for.

Pay attention to these areas to get the best ROI:

  • Location and acceptance
  • Pricing and card fees
  • Data and reporting options
  • Purchase controls

Preventing Problems by Keeping Driver Management on Track

Fleet fuel cards can provide numerous advantages and benefits to fleet operations and can help eliminate many of the problems associated with managing drivers and their job-related purchases. 

For example, think about these questions:

  • How do you know your drivers are using fuel for only company use?
  • How do you know which driver made what purchase?
  • Can you account for all purchases based on the many receipts your drivers provide, and how do you know those are all the receipts?

Without a fleet fuel card program in place, it can be difficult to answer these questions, which can mean all sorts of problems for you and the company’s bottom line. Fleet fuel cards help take any uncertainties regarding expenses out of the equation and help prevent problems from occurring in the first place.

Eliminating Driver Management Issues that Waste Valuable Time

With a fleet fuel card program, you can easily identify and control purchases in real-time and monitor them online. The information you get makes planning, purchasing and gathering tax information a much simpler process.

Some reporting features to look for in a program include:

  • Card and state transactions by date.
  • Line-item details of exactly what was purchased.
  • Last transaction, attempted transaction or weekly transaction, by individual driver PIN.

Better Fuel Management through Measurement

Fuel is generally a fleet’s largest expense and fuel prices are always fluctuating. A fleet fuel card program can provide valuable data, such as detailed mileage and cost-per-mile, that helps you take control of your fuel budget and realize savings.

For example, you can know the fuel efficiency of each vehicle, control costs and examine fueling locations based on fluctuations in gas prices. In addition, having information on the fuel efficiency of each vehicle provides insight on driver behavior, so you can correct bad driving habits before they become a costlier problem.

If you are looking to improve efficiencies through better driver and fuel management and tackle related problems, a fleet fuel card program is certainly worth exploring. To learn about PS Energy’s program, visit our fuel card page.

Compare the pros and cons of fuel cards and other fueling methods by downloading our white paper, What is the most beneficial fueling method for your fleet?

Download your free white paper

Tags: Fuel Card, Fuel Management

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