Many fuel fleet cards come with extra perks, such as accounting features or insights into your mileage per gallon. They may also offer fraud prevention systems, like blocking service areas by nation, state, or postcode, to prevent unauthorized use.
If your company spends a considerable amount of money on fuel each year, such as transportation and shipping businesses or limousine services, a fleet card like the Voyager fleet card could be a beneficial option. By taking advantage of gas rebates and automatic expense reporting metrics, the right card can help you save money.
Online Platform
Whether you want to streamline fleet management or simplify record-keeping, a robust online platform is essential. Look for a card integrating fuel purchasing, reporting, and expense management. This way, your company can manage spending and track mileage without wasting valuable time chasing expense receipts.
Branded cards tend to be closed-loop, meaning they’re only valid at a specific gas station brand, while fleet and universal cards are based on major credit card networks. These are much more flexible and offer rebates at all participating gas stations, including those outside your normal network. However, be aware of additional fees that can add up, such as out-of-network costs, per-gallon charges, and monthly card or account fees.
While the benefits of a fleet fuel card can be significant, you’ll also want to ensure your card is secure. Ask whether your company’s card has an EMV chip, which requires a PIN to complete transactions and helps prevent fraud.
Lastly, make sure your card provider has 24/7 customer support to answer any questions that may arise. This is particularly important if you have drivers who drive at odd hours of the day or if they travel to unfamiliar locations. The right card company will be able to provide support in real-time, saving your team time and effort while helping you stay on top of your budget.
Real-Time Alerts
Real-time alerts provide critical information, such as a driver’s fuel purchases or unusual odometer readings, in an actionable form that can be easily sent to other systems. These alerts can be delivered via email, SMS, Slack, or webhooks, helping to increase reliability and reduce alert lag.
A good fleet fuel card will offer robust controls and reports to help streamline accounting and expense management. Look for cards that feature transaction limits, odometer reporting, driver ID authentication, and a mobile app to give you the ability to check on your fuel purchasing data anytime. Each card will have its own features so make sure to compare them and find one that suits you. For instance, this prepaid fuel card can direct drivers to stops that accept it, so you don’t need to spend time looking into stations and altering routes. Instead, the work is done for you.
Additionally, look for a card that offers streaming alerts that deliver real-time metric-based alerts. This reduces alert lag from 10m to less than 10, so you can address issues before they become major problems.
While the perks of a fleet fuel card can vary significantly between providers, some stand out more than others. Consider the region, discounts, fees, and control features a card offers to determine if it fits your company best. For example, a card that only operates at Shell stations may be a good choice for a regional company, while a card with wider station coverage could make more sense for a larger operation.
Exception Reporting
Exception reporting is invaluable for fleet managers looking to bolster internal controls. It establishes a set of “normal” parameters and runs them against incoming daily, weekly, and monthly data to highlight discrepancies. This can help prevent internal theft, catch external theft incidents, and highlight purchasing trends and patterns over time.
For example, some cards use geolocation and vehicle odometer data to confirm driver identity and engine control unit (ECU) location before allowing a purchase. These features can help reduce fuel and maintenance fraud and prevent unauthorized usage of company vehicles.
Another feature of advanced fleet fuel cards is monitoring in-store purchases. This helps you keep tabs on spending by employees not authorized to buy certain products or services. It can also flag suspicious behavior, such as if an employee purchases more than they should or the vehicle is over its tank capacity.
The size of your fleet and the features you want are crucial when choosing a fleet fuel card. Look for a card that offers the best discount at your preferred network of gas stations and service locations and the ability to monitor in-store purchases. Also, consider whether you want a card that offers additional benefits, such as cashback or loyalty rewards.
Driver Support
Fleet fuel cards provide a convenient way to track and control expenses by eliminating the need for paper receipts. When choosing the right one for your delivery business, look for a card with powerful online features such as real-time alerts and the ability to set maximum spending limits. These tools can help you stay on budget while reducing wasted driving and maintenance costs.
Consider the network coverage and the possibility of paying for items other than gasoline with your card. Keeping drivers on the road is essential to service delivery, but having the right tools can minimize distractions and reduce downtime. Using a fleet fuel card can save time on paperwork while eliminating errors and mismanagement of expense data. It can also save money by allowing your drivers to purchase fuel at the lowest possible price and delivering savings through nationwide discounts and rebates. The right card can improve compliance and productivity by enabling managers to monitor purchases, identify misuse, and provide reporting metrics.
