Fleet cards offer numerous benefits for businesses with vehicle fleets. They provide a convenient and efficient way to manage fuel expenses, offering detailed reporting and control options. Additionally, fleet cards often come with savings and rebates that can help businesses reduce costs. With our gas and fuel cards for business, you can enjoy features such as real-time cancellation of lost or stolen cards, purchase controls, and access to comprehensive fueling activity reports. These tools can help improve efficiency, performance, and security for your fleet operations.
Understanding Fleet Card Fuel Savings
Fuel is a significant expense for many businesses, and it’s essential to have cost-saving measures in place. This is where a fleet card comes in – it can help reduce fuel-related expenses by providing discounts, rebates, and other incentives that make fuel purchases more affordable. Fleet cards offer a convenient way for businesses to manage their fuel expenses while also driving down costs.
Simply put, a fleet card allows businesses to take control of fuel purchases. Unlike traditional credit cards that don’t differentiate between gas and other expenses, fleet cards are designed specifically for fuel purchases. This means that businesses can set limits or restrictions on the amount of fuel purchased by drivers, with detailed activity reports accessible through an online account management portal.
Rebate Schemes and Fuel Discounts
Fleet cards provide several advantages when it comes to saving money on fuel expenses. One of the most significant advantages is saving on gas prices through rebate schemes and fuel discounts.
Using a fleet card provides users access to discounted fuel prices at specific stations. This makes refueling less expensive and reduces overall expenses considerably. The Shell Fleet Navigator provides savings up to 5 cents per gallon at all participating Shell stations as well as over 95% of all U.S. fueling stations nationwide. Additionally, it offers an ongoing rebate schedule based on monthly purchase volume.
Different fleet cards come with different reward structures in terms of petrol points or redemption opportunities, making monitoring petrol expenditures less taxing. For example, the Shell Fleet Plus card offers rebates of up to 6 cents per gallon based on the monthly purchase volume; the Shell Small Business Card as well as the Shell Fleet Navigator card offer rebates of up to 5 cents per gallon.
Consider this: A company spends $12,000 a month on diesel/petrol for its commercial trucks or vehicles using standard corporate cards, accumulating no rewards for frequent fueling. After switching to a fleet card that leaves the company eligible for petrol points or rebates, its expenditure lowers considerably with no changes whatsoever in the routine.
As shown above, fleet cards can help businesses save money on fuel expenses by offering fuel discounts and rebates using tailored reward structures. But what should you consider before procuring a fleet card for your business?
Payment Flexibility with Fleet Cards
One of the significant benefits of using a fleet card program is the payment flexibility it offers. With a fleet card, you have the option to pay off expenses in full or carry a balance, depending on your business’s financial situation. This flexible approach can help manage cash flow and reduce burdening financial pressure that could potentially lead to default.
For instance, imagine that your business experiences temporary financial setbacks, and the credit line from traditional lenders gets exhausted. In such cases, a fleet card could help manage payment obligations; its flexible payment terms would allow you to catch up when cash flow improves.
Key Features of Fleet Card Programs
Fleet card programs offer several features that enable businesses to gain control over fuel expenses while ensuring utmost convenience.
Firstly, fleet cards provide detailed expense tracking and reporting. Using an online management portal like Shell Account Manager makes tracking fuel expenses easy, enabling you to view purchase data in real-time to check for discrepancies.
Equipped with these valuable insights, decision making can be made more information-driven and data-backed rather than conjecture-based decisions.
Secondly, these programs offer different cards suitable for various business types and preferences: Shell Fleet Plus card offers rebates of up to six cents per gallon based on monthly fueling volume. The Shell Small Business card has no fees and allows payment flexibility by carrying a balance. The Shell Fleet Navigator card allows you to benefit from a reduction in fuel expense due to ongoing savings from gallons purchased in-billing cycle.
For example, if your company requires frequent refueling or operates beyond designated networks’ reach, opting for the Shell Fleet Navigator card might be ideal because it’s accepted anywhere.
Therefore creating personalized options ensures every type of business is catered for through the offering of relevant products suiting their needs.
Fleet cards also provide security features such as real-time cancellation of lost or stolen cards, driver IDs, and purchase controls. With those elements in place, you can rest assured that your fleet card is secure.
Lastly, businesses can install Clear View analytics for more detailed insights and reporting capabilities; this analytics software will help you identify inefficiencies and potential areas to optimize. Additionally, Fleet Smart Hub is a free mobile app that allows on-the-go fuel card account management.
- According to a 2020 study by the National Association for Convenience Stores, fleet cards are used in 15% of all fueling transactions in the United States.
- A market research report from Grand View Research, Inc., predicts that the global fleet card market will grow at a compound annual growth rate (CAGR) of 6.5% from 2021 to 2028.
- Studies show that businesses using fleet cards can potentially save up to 15% on overall fuel costs through controlled spending and fraud prevention mechanisms.
- The takeaway from this information is that fleet card programs offer businesses a convenient and efficient way to gain control over their fuel expenses. These programs provide detailed expense tracking and reporting, allowing businesses to make informed decisions based on real-time data. Different types of fleet cards are available to suit different business needs, offering benefits such as rebates, payment flexibility, and acceptance at any location. Fleet cards also come with security features to ensure the safety of transactions. Businesses can further enhance their fuel management by utilizing analytics software and mobile apps for insights and easy account management on-the-go.
Expense Tracking and Reporting
One major advantage of fleet cards is how they allow for tracking fuel expenses. The prompt reporting provided by these cards can give a business owner insight into where and how much company money is being spent on fuel. At the end of each billing cycle, detailed reports are generated outlining the total amount of fuel that was purchased, where the purchases were made, how much was spent on each transaction, and other vital information related to fuel spending. This information can help identify areas where savings can be realized, enabling businesses to make more informed decisions.
For example, if your report shows that one driver consistently buys gas from a higher-priced station than another employee who is buying from a lower-priced location, you could potentially switch everyone over to the cheaper station and save money in the long run.
Control Options and Purchase Limits
Another significant benefit of using fleet cards is the degree of control provided over both purchase options and limits. Fleet card providers offer businesses several purchase control options and customized spending limits that can be set by employers based on their unique needs. Think of it as handing your employees a company credit card with strict usage instructions.
Limits can be placed on categories like fuel-only or approved maintenance charges that makes sure funds are used solely for business purposes. Hard limits provide strict boundaries beyond which the card cannot be used for any reason, while soft limits allow some flexibility but will alert administrators when a limit has been exceeded.
The ability to set purchase controls like this promotes responsible use of company assets while also promoting higher fidelity among employees through accountability measures. Additionally, businesses can access real-time expenditure data that assists them in making informed decisions about future budgets right down to the mileage per gallon per vehicle.
For instance, a plumbing service could set a fleet card’s limit to $500 per billing cycle for purchasing parts, with extra money allocated when headed to a new site. This limit assures the parts are utilized for business expenses only and the increased allocation smooth’s any hitches when tapping into local vendors for urgent personnel or vehicle needs.
Selecting the Ideal Fleet Card Provider
As a business owner or manager, selecting the right fleet card provider for your needs is crucial. With plenty of fleet card programs available in the market, choosing one that fits your budget and requirements might seem like a daunting task. However, there are certain features and benefits to consider when selecting an ideal fleet card provider.
For instance, Shell Fleet Solutions offers various options like Shell Fleet Navigator, Shell Small Business, and Shell Fleet Plus cards that cater to different business needs. These cards come with benefits such as rebates on fuel purchases and detailed reporting capabilities to help you monitor and control fuel expenses. Other factors like convenience, security features, and online account management portal also play a vital role.
Researching fleet card providers, understanding their offers’ nuances, fees structure and how they align with your current business model can prove invaluable in managing costs and improving efficiency.
Enhancing Fleet Card Security and Fraud Prevention
Just like any other financial payment method, there are security risks associated with using fleet cards. Therefore it’s essential to understand how to stay safe while making fuel purchases.
First off, by partnering with a reputable fleet card provider such as WEX Bank – issuer of the Shell Fleet Cards – provides sophisticated payment solutions with cutting edge fraud prevention controls. They provide users with driver ID’s, real-time cancelation of lost or stolen cards among other essential security measures that ensure your accounts are protected adequately.
Next up is setting usage limits for each user on each card reducing the chances of unauthorized use. When suspicious activities occur, it’s advisable to report them immediately so relevant parties can investigate and address concerns promptly.
Think of it as an insurance policy for your fuel expenses – taking proactive measures will save you from potential losses.
It’s prudent to capitalize on the available free tools provided by various fleet providers; For example, Shell Fleet Solutions offers Clear View analytics which provide detailed insights and repurchasing transactions, allowing you to holistically analyze the expenses patterns of fuel purchases.