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Fuel cards: Cost-effective solution for logistics industry

IFM_Fuel Card
At the networking fueling stations, the fuel cards provide particular discounts

The fleet’s budget is primarily made up of fuel expenses. As a result, everyone seeks a way to reduce fuel costs to boost their profit margin, regardless of their fleet size or the market niche they service. But is it even feasible?

Fuel cards are an all-inclusive solution that can help you manage your fuel costs and reduce operating costs by 30%.

You can track and regulate how much your drivers spend on gas, thus restricting fraud and overspending. You can even use the card to obtain gasoline rebates and extra benefits on your fuel purchases.

Like a credit card, a fuel card is used only to buy gas. Your driver must enter the card and fill the tank before giving the final information. This is the most effective method for streamlining fuel management, reporting, and billing.

You now understand how gasoline cards can reduce costs, enhance management controls, and simplify administrative procedures. Let’s go over them in greater depth below:

At the networking fueling stations, the fuel cards provide particular discounts. It offers you price breaks on your purchases. Some vendors even provide volume-based rebates to help you save more money.

These cards also provide special offers and savings on additional services. Some even offer loyalty awards.

The card also allows you to keep an eye on your spending. For example, do you realize that drivers may occasionally overspend? There are four possible outcomes:

  • Using a hose or other equipment, drivers siphon fuel from the tank to use it to their advantage
  • Misuse: The company’s credit card can be used by the drivers to pay for gas for their cars
  • Slippage: The motorists spend the fuel money on snacks, beverages, or other sundries
  • Overfilling occurs when the driver overfills the fuel tank of the car

These are some significant issues that the fleet industry is now dealing with. By switching to gasoline cards, you can address issues.

You can regulate access spending, individual employee limits, purchasing limits, and more. It also gives your driver a unique driver ID number, preventing them from using the card in an unapproved manner. You will be notified each time your driver purchases with the specifics.

A gasoline card also offers comprehensive data on fuel expenditures, allowing you to analyze spending to spot any abuse or establish personal spending caps.

Fleet managers can produce statistics to track their speeding. It saves time compared to manually creating expense reports. You can also use them to get exact information about how much fuel and maintenance costs for each vehicle in your fleet.

You can also obtain a summary of the expenses incurred by your fleet. This can be used to plan your budget and manage fleet-related costs.

You will be informed of the location in real-time when your driver makes a purchase. You may also look up the truck’s specifics to ensure they are not using the card for their personal vehicle.

Whenever you buy fuel, a fuel card with odometer logs the distance traveled. As a result, you may ensure the driver is taking the prescribed route and abstaining from reckless driving practices that raise fuel costs.

Additionally, it offers better details on the typical distance and whether maintenance is required. Therefore, you can utilize the knowledge to select the best delivery route at the following time.

The fuel card comes with a mobile application that the drivers may use to compare the cost of petrol at various filling stations. They can pick the one with the best offer.

If there is a need for fuel on an unfamiliar route, they can help find fuelling stations.

Fuel Cost
Fixed and pump prices are the two main pricing structures offered by the gasoline cards.

The fuel cost is fixed and volatility-proof. Therefore, it is perfect for large companies because they need to purchase a lot of gasoline to run their operations.

On the other hand, pump-price fuel cards provide you with savings, loyalty benefits, etc. For small and medium-sized fleets, it works best.

The best part is that there are other advantages as well. For example, you’ll also receive exclusive offers and perks on each fuel transaction.

To get rid of worries related to the fuel price hike, start using fuel cards. It’s the ultimate solution for both cost-effective gasoline purchases and fraud prevention.

Vikas Kapoor

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