If you are investigating fuel cards and their use, you might ask yourself if they could be a solution for aspects other than your company's
fuel economy.
Apart from fuel/money saving, there are a lot of advantages if you decide to use fuel cards:
- - You can get fuel from a large network of stations, 24/7, without the need for distributing cash to drivers.
- - You can get direct payment typically every fortnight or month with a single invoice, thus reducing the VAT amount for the purchase.
- - You can set restrictions for your employees as to the type of fuel or items they can buy with the fuel card—where, when, and how many times a week.
- - You can have an online account where you can view transactions, prices, invoices, and receive invoices by email, saving paperwork and administrative costs as well.
- - You can get reports on transactions carried out by your drivers on a regular basis, for example, you might want to receive regular reports on fuel transactions carried out every fortnight by a particular driver, on a particular vehicle.
- - They can only be used at filling stations for purchasing fuel or vehicle related items as you see fit, therefore you will eliminate any potential misuse of company credit cards, and can detect unusual transactions.
- - You can get price reports on your mobile phone via SMS.
- - They are generally not subject to government tax.
- - You have access to a large amount of valuable online data, beyond any strictly related to fuel costs and purchases.
How shall I decide which card is best for my fleet?
When choosing one card amongst the huge range on offer, you might consider some of these factors:
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- Where is your company based and where does your fleet travel mostly (nationwide or internationally)? It might be necessary to check local fuel card networks or see if you need international coverage.
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- Are your fleet vehicles diesel or petrol?
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- What are the size and type of your fleet vehicles?
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- How much do you spend per month on fuel?
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- Do you need any other data to be recorded? Some innovative fuel card systems will allow you to check on driving safety—allowing you the potential to economise further on fuel.