Why Would a Fleet Card Benefit You?
Fleet cards are similar to credit cards in that they are a way for your employees to pay for items. What is great about a fleet card is that they are small, fit in your wallet, and are able to help manage expenses made by your employees. As a business owner, this technology will help you control expenses and find alternative methods to manage your business.
Fleet cards are specifically used to help businesses over-see purchases of fuel and maintenance with a network of chosen merchants. In the example of Reeder Distributors, a fleet card can be used to monitor the number of times a driver needs to fill up or fix their fuel delivery trucks.
Fleet Cards Versus Credit Cards
It is important to know and understand that a fleet card is not a credit card. Though they have similar uses, a fleet card provides business more control and a wide range of added features which include, but are not restricted to:
- Purchase Controls
- Universal Coverage
- Custom Reports
Fleet cards are a great way to protect your business and control the amount of money your employees are spending while they aren’t under your direct supervision.
By using features such as purchase controls, drivers will be responsible for inputting a PIN number before each transaction. Not only will you be able to track where payments are being made, but know the exact amount of expenditures (to the cent). Better still, your fleet card will be able to track payment-to-payment and be able to give you concrete data of how much each driver is spending during work hours. Having these controls can be beneficial for two reasons. For one, business owners will be able to monitor on-the-road expenses, and second, be able to track where drivers are making these purchases. Keeping tabs on transactions will keep your business’ money secure, but also give drivers security, as they will have documentation of their exact purchases on fuel and maintenance.
What makes fleet cards particularly desirable for drivers is that they are an easy, fast, and reliable payment method. They also are usable at over 230,000 fuel and maintenance locations nationwide. Because of this, services are available are convenient and low-priced fuel stations. With this universal coverage, drivers never have to worry about finding low-priced fueling stations or brands. Having a fleet card take the stress out of fueling, as it is easy as sliding a card and inputting a PIN number. Fueling up takes drivers time and it their fueler needs repairs, having a card documenting expenses could be beneficial to them. Ultimately, this feature saves drivers time and saves business owners money.
Fleet cards offer fuel reports were are customizable to fit certain management needs. What this means, is business owners can organize their reports to fit the type of information they find most valuable. In this case, a business owner could sort the department report to simplify fuel expense allocation or owner-operator reports. Because of this feature, business owners can be given precise information based on their specific needs. This can be beneficial to a business owner, as the hard work of organizing information is minimized. Instead of trying to collect and organize receipts, the fleet card provides immediate, exact data on all expenditures.
With every purchase, your fleet card is able to control that exchange. This can come in handy when drivers are making purchases they should not be or fueling at a non-covered station. For example, if you set up alerts within your management settings, the card can alert the driver if they are making a purchase at the wrong gas station or even if they are loading their truck with the wrong sort of fuel. This way, drivers are protected from simple mistakes that could personally cost them, such as in fines or losing their jobs. Fleet cards also include e-receipt options in order to update drivers on their purchases and offer them their own form of receipt in case issues arise.
Benefits of a Fleet Card
Aside from the above benefits, fleet cards also offer business owners better ways to organize their company purchases. With online account management, businesses are able to access their accounts and adjust their information whenever they would like. Also, owners are able to change information within individual driver’s cards, such as updating purchasing options or even canceling a card if necessary.
Reed Distributor Inc.
With a fleet card, managing expenses and limiting waste is easier than ever. With the help of technology, business owners can control their business expenses and learn new methods to improve efficiency. Due to the wide set of extra features of each card, drivers are protected by alerts and e-receipts. By having each purchase well documented, business owners are more aware of where money is being distributed. More importantly, with the collection of centralized data, owners can analytically track purchases and maintenance requests to manage the overall function of their trucks. If you believe that a fleet card could benefit you and your business, contact Reeder Distributors Inc. today.