Source: Freepik.com
Businesses must rely on fuel cards to improve efficiency and manage costs. Whether to manage fleet operations, simplify fuel purchases, or enable smarter decision-making, these cards work wonders.
Cutting fuel costs on the fleet is another top reason businesses must have a fuel card, as they offer competitive discounts and no transaction fees.
Had someone suggested that you invest in a fuel card for your business’s transportation needs? Unsure whether it would benefit you; if so, how? No need to look elsewhere.
Here’s a breakdown of some top benefits that will compel you to buy a fuel card from a trusted fleet company. Let’s have a closer look at them.
1. Cost Savings
As a business owner, you can save money by taking advantage of negotiated discounts or fixed weekly pricing. At participating stations, the price is often below the pump price. No matter how frequently fuel costs fluctuate, there’s no impact on your business expenses.
2. Expense Control
Whether to set spending limits, limit purchases to specific items (such as fuel or maintenance), or track transactions in real time, using fuel cards will allow you to manage your systems online. As a result, you’ll experience minimal or no fraud or misuse.
3. Streamlined Administration
If you are running a business in Australia and want to minimise your business fuel costs, then delve into the Ampol fuel card details, including discount rates, and so on. This card will eliminate the need for drivers to gather and submit individual paper receipts for reimbursement. This will consolidate all transactions into a single, detailed invoice. Hence, your administration teams will have sufficient time to manage other core administrative tasks.
4. Simplified Tax & VAT Reclaims
Most often, providers grant HMRC-compliant invoices (or equivalent for local tax authorities). Such invoices detail all necessary information to ensure an easy, accurate VAT reclaim process. Hence, you will stay on the right track where the prospects of reclaim approval are higher.
5. Improved Cash Flow
Employees don’t need to pay out of pocket and wait longer for reimbursement. Instead, they must pay the bills directly to the business on the agreed payment terms (weekly or monthly). This direct approach will help you (as a business owner) to manage cash flow without any hassle.
6. Data & Insights
Fuel cards capture detailed data on business vehicles, including driver ID, location, fuel type, and mileage. This provides insights into current fuel consumption trends, driver behaviour, and vehicle efficiency. Therefore, you will feel confident making data-driven decisions to optimize your business fleet and other operations.
7. Convenience for Drivers
Drivers don’t need to use their personal funds or carry cash. This will reduce financial strain and hassle. By using navigation apps, they can easily find eligible fueling stations along their routes. The level of convenience saves their time and prevents the need for detours.
8. Security & Fraud Prevention
Do you know? Cards are often PIN-protected. Your company’s account managers can set up alerts for unusual activity (such as late-night fueling or large withdrawals). The best part? There would be no chance of theft or unauthorized access.
