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Fuel cards can be a useful addition to any business that relies on their vehicles in order to operate smoothly and efficiently. But that said, what is it that makes fuel cards a better and more helpful alternative compared to not using them?
This blog aims to explore some of the benefits that a fuel card can provide your business.
Depending on the card you choose and the size of your fleet, you could stand to make significant savings, especially if your fleet is particularly large.
For example, some of the benefits a card can offer could be fixed weekly prices, where any fluctuations in price don’t negatively affect your finances. Decreases in price can be refunded, and increases in price are effectively ignored. You could also have a wholesale discount of a few pence per litre, which could amount to significant savings if your fleet is especially large.
With a fuel card, the financial benefits can be more than simply discounted fuel. This is because, when you have a fuel card, you don’t pay at the pump.
Instead, all fuel costs for a given week are collected into one single invoice, which is then taken out as a single direct debit payment 7 days later. This means you’ll be spending far less time tracking and collating expense forms to figure out exactly who paid for what.
Similarly, your staff won’t have to worry about keeping receipts or writing down exactly how much fuel they’ve purchased – everything is tracked through the provider’s website, and it’s all accounted for on the invoice, which will be produced to strict HMRC standards.
Fuel cards are more than just an efficient was to pay for your fuel. In combination with your provider’s fleet management software, they’re also a great way to monitor your fleet, such as the routes they drive, their mileage per gallon, and where and how often they’re stopping.
This means it’s not only a way to ensure your staff are staying productive and on-task throughout the day but you can also use the software as a means of route planning to maximise efficiency.
For example, analysing the data you have could help you figure out that your fleet could get to certain destinations quicker and with less fuel used if they took an alternative route, which leads to further savings for you down the line. Tools such as these are a great way to make the most out of your fleet to get the most benefit for your business.