The best fleet fuel cards offer impressive discounts, trusted security features, and helpful account management tools. With online reporting and real-time monitoring, you can control the budget.
While branded fuel cards often offer high per-gallon rebates, they can be restrictive regarding where to purchase gas. Open-network cards provide an excellent balance of savings and flexibility.
Access to a Network of Stations
With a fleet fuel card, your drivers can use it at various gas stations. Look for one that covers your region and includes major brands. In addition to an extensive network, consider the card’s discount, fee structure, and control features.
Many fleet cards offer mobile apps that help you manage expense reporting and fuel tracking. These tools can eliminate the need for hard-copy receipts and reduce the amount of time your accounts team spends on administrative tasks. Detailed information on each purchase is available online, so you can see where and when drivers spend money on gas and diesel.
In addition, the best fleet fuel card will also provide you with a way to limit your expenses by setting up driver or vehicle-level purchase controls, odometer verification, and miles-per-gallon reporting. These features can make a big difference in managing fleet costs, especially for small businesses.
Using a fleet fuel card for your fleet-related purchases can also help prevent fraud and unnecessary spending. In addition to a secure platform and odometer-based purchase restrictions, many cards are linked to individual drivers, so you can identify who purchases fuel and other items. They also prevent employees from buying power independently or at unauthorized locations.
Fleet fuel cards make it easy for businesses to track and control vehicle spending. The best offer impressive discounts, trusted security features, and streamlined account management services. Some even feature mobile apps that allow users to view and access their expenses, fuel data, and controls from any location.
The first thing business owners should do is consider what type of network coverage their chosen card offers. If a company only offers its cards at a limited number of stations, it may not be practical for truckers who travel across the country. Another important consideration is what kind of rebates a card provides. Some companies offer a fixed discount rate, while others offer tiers based on monthly fuel purchases.
While some might assume that a fuel card is only helpful for large corporations, it can also benefit smaller businesses. In addition to avoiding the hassle of keeping track of receipts, fleet fuel cards also eliminate the need to pay cash at the pump. Furthermore, they can purchase other trucking-related items like repairs, accessories, and spare parts.
Some cards are designed to handle other expenses, such as boarding fees at selected truck stops or lodging. Moreover, they can also help avoid unnecessary vehicle maintenance expenses by letting drivers know when it’s time to change their tires or get an oil change.
Expense Tracking and Reporting
A sound fleet fuel card can help you get more control over your business spending by ensuring that only authorized expenses are charged. This simple but crucial function makes fuel cards much more useful than cash or credit. Many cards also offer advanced security features that can prevent misuse and fraud.
Most fuel cards require driver ID and odometer readings to record purchases and ensure they are only made for business purposes. Some offer additional tracking metrics, such as mileage and location data, that can improve your understanding of your company’s spending habits.
The best fuel cards are designed for ease of use. They can help reduce the need to handle cash on the road and minimize paperwork for your accounts team. They can also be integrated with your accounting system to record all fleet purchases and related costs accurately.
For example, some offer an average of 63 cents per gallon in savings and can be used at thousands of stations nationwide. This is a significant benefit for trucking companies, but the card’s low network size may not make it an excellent option for smaller fleets. It has access to several thousand in-network stations and can be used for discounted products like tires and wireless internet.
Besides offering savings at the pump, many fleet fuel cards have a lot more to offer. For instance, some offer control by driver or vehicle and options to set spending limits and real-time monitoring. It also has several other benefits, like a discount and roadside assistance.
On the other hand, the Fleet Card offers a more extensive range of features, including a mobile app, a user-friendly dashboard, and trusted security features. It also has a vast network of stations and impressive user discounts.
A fleet fuel card is an excellent option for businesses that spend a significant amount on gas yearly. It helps them streamline their operations by simplifying expenses, reporting, and tracking. In addition, it allows them to avoid handling cash during fuel purchases and provides a comprehensive record of each transaction. It also reduces paperwork for carrier operations of all sizes by eliminating the need to track receipts manually.
Choosing the best fleet fuel card comes from doing homework and knowing your needs. If you aren’t sure which one is right for you, talk to the card providers and ask them about their features to find out which would work best for your business. Then, you can focus on what matters – growing your business!