Fleet management can be a challenging job, especially when managing a large number of vehicles. Responsibilities range from fuel tracking and maintenance scheduling to driver accountability and cost control. Fleet-dependent businesses are constantly looking for ways to streamline operations. Often the tools they need are already in their possession—they just aren’t using them to their full potential. Fleet cards, or business gas cards, are in many fleet drivers’ pockets and used at a basic level for fuel rebates. Yet, when fleet managers harness their power and versatility, these fleet fuel cards revolutionize how a fleet is run.
The convenience and functionality of fleet cards translate into tangible benefits that streamline operations and improve overall efficiency.
Fleet Card Basics
A fleet card is a payment method similar to a credit card but designed specifically for businesses with fleets of vehicles. These fuel cards offer more than just the ability to purchase gas or diesel—they come equipped with robust features tailored to simplify fleet management. Here’s a closer look at what makes fleet cards so advantageous:
Discounts and Rebates
One of the most immediate benefits of fleet cards is the potential for fuel discounts and fuel rebates. Many fuel card providers partner with fuel stations to offer discounts that can lead to significant savings, especially for businesses with high fuel consumption. Rebates are often based on the volume of fuel purchased or tied to loyalty programs that provide more favorable pricing as usage increases. In some cases, rebates are limited to a specific network or brand. Other cards, like the WEX Fleet Card, are accepted at 95% of US fuel stations and offer rebates wherever you fuel.
When you consider fuel is one of the highest operational expenses in fleet management, even small savings can have a significant impact on the bottom line over time. These discounts and rebates allow fleet managers to reduce fuel costs and reinvest savings into other aspects of their operations or increase cash flow.
Some fleet cards also offer discounts on fleet-related expenses. For instance, WEX provides access to discounts on maintenance, parts, services, tires, hotels and more. These savings can add even more to your business’ bottom line.
Real-time Data
Fleet cards collect real-time purchase data that you can access anytime from anywhere there’s internet. Every detail of a transaction is recorded in a fleet card dashboard. Details include:
- Purchase amount
- Fuel station location
- Fuel volume
- Date and time
- Fuel type and grade
Easy access to this real-time data allows managers to track fuel purchases as they happen. This level of visibility helps fleet managers and business owners make informed decisions on fuel usage and helps identify anomalies or irregular spending patterns. The information also empowers quick responses to fraud or misuse, allowing managers to take action before minor issues become significant problems.
By using fleet cards to their full potential, businesses can reduce fuel costs, enforce fuel policies, improve operational efficiency and gain valuable insights into their fleet’s performance.
Purchase Controls
In addition to real-time data, fuel cards are equipped with customizable purchase controls. This feature allows fleet managers to set predetermined limits such as:
- Time of day or days of the week a fuel card can be used
- Number of purchases per day
- Amount of fuel per purchase
- Dollar amount per transaction
- Fuel type (diesel vs. gas) or grade (regular vs. premium)
The ability to restrict spending at the point-of-sale significantly reduces the risk of waste and fraud.
Reporting and Analytics
Data is only useful if it can be analyzed effectively, and fleet cards excel in this area. Most fleet card providers offer comprehensive reporting and analytics tools allowing managers to review spending trends, fuel consumption and driver behavior. These reports can be customized and generated at regular intervals or on-demand, giving fleet managers a detailed picture of fleet performance.
Benefits of Fleet Cards to Fleet Operations
The convenience and functionality of fleet cards translate into tangible benefits that streamline operations and improve overall efficiency.
Up-to-date Data
Since fleet managers can monitor fuel purchases and expenses in real time, they have immediate insights into fleet activity. This allows managers to be proactive and address issues immediately.
Automated Fuel Expense Tracking
Keeping track of fuel expenses is one of the most time-consuming aspects of fleet management. Traditional methods, such as paper receipts and manual expense reports, are error-prone and time-intensive. Fleet cards automate this process by providing detailed transaction records in real time. Managers no longer need to wait for drivers to submit receipts or manually input data into spreadsheets.
Fuel Policy Enforcement
One of the main challenges for fleet managers is ensuring drivers follow the company’s fuel policy. Purchase controls enable managers to limit fuel purchases based on company policies. These controls help ensure drivers’ fueling habits stay aligned with company guidelines and money is spent appropriately.
Automating policy enforcement with purchase controls frees fleet managers to focus on other areas of operations.
Streamlined Accounting
Fleet cards also streamline accounting with detailed, consolidated reporting of fuel expenditures. These reports can be easily integrated into a company’s accounting software, reducing the need for manual data entry and minimizing the risk of errors. Fleet fuel cards also simplify the reconciliation process, as all transactions are captured digitally, eliminating the need for physical receipts.
Fleet managers can also generate custom reports for tax purposes, audits or internal financial reviews. This level of integration reduces administrative burdens and increases overall efficiency in the finance department. Fleet card data and reporting also help with budgeting and forecasting by providing a clear and accurate picture of fuel costs over time. This enables businesses to make more informed decisions about future expenses and resource allocation.
Integration with Telematics
Telematics systems are valuable tools for fleet managers that provide real-time insights into vehicle location, driver behavior and overall fleet performance. Many fleet card programs offer integration with telematics, allowing managers to combine fuel data with telematics information for a more comprehensive view of fleet operations.
For example, fleet managers can track fuel consumption alongside GPS data to determine whether specific routes contribute to higher fuel costs. This information allows for more strategic planning and route optimization, reducing fuel consumption and operational costs.
Fleet Cards are Essential to Efficient Fleet Operations
From real-time data and purchase controls to robust reporting and integration with telematics, fleet cards are a solution to many of the challenges fleet managers face. For instance, automating fuel expense tracking and reporting reduces administrative burdens and allows managers to focus on other areas of their operations.
By using fleet cards to their full potential, businesses can reduce fuel costs, enforce fuel policies, improve operational efficiency and gain valuable insights into their fleet’s performance. Whether managing a small local fleet or a large national operation, fleet cards are essential for businesses looking to streamline operations and maximize company resources.