Fuel is one of the significant factors for many companies, as it drives their growth and expansion in the market. And with the rise of fuel prices, the transportation cost can take up to 30% to 50% of the total budget. Therefore, it is high time to manage the fuel expenses to get more from the roads.
One of the most significant ways of getting it is through a fuel card. They offer security, discounts and perks, which can help you set the proper budget for fuel and travel expenses. That way, you can increase your revenue and focus on fixing the issues in your supply chain.
Hence, in the next section, we will discuss the benefits of using a fuel card for your business. So, look down to know more.
Benefits of Using Fuel Cards
Here are a few benefits of using fuel cards to make your business more sustainable –
Reduce Fuel Costs
One of the biggest benefits of using fuel cards lies in the fact that you can reduce your fuel costs by a large margin. This means you can increase your savings and focus on the other aspects of the business.
That way, you can reduce your fuel cost and lead a more efficient business. Moreover, you will get various cashbacks and other offers, which can significantly reduce your fuel expenses. Hence, with active and consistent use of fuel costs, you can set your fuel budget and allocate card limits to each driver.
Easy for Drivers
When you start to use fuel cards, you make it easier for the drivers to manage their expenses and increase their job satisfaction rate. This is because earlier drivers had to pay for the fuel and manage the whole fleet expenses. Furthermore, they had to face long delays in getting the payment back, as it often got stuck in the accounts department.
Consequently, fuel cards allow drivers to swipe the card at the gas station and pay simply. This makes it easier for drivers to manage fleet expenses and maintains transparency with upper management. That way, both parties know there is less chance of fraudulent cases and keep the fuel expense reports updated. Moreover, some cards put limits on food and other uses, which ensures that drivers have a certain amount to spend on themselves other than fuel.
Increases Logistics Efficiency
Logistics is the backbone of any business. The movement of assets from one place to another determines businesses’ market share. Amazon and Alibaba work this way. They make it possible by using fuel cards, which save drivers from standing in the queue to pay the fuel price.
When giving fuel cards to your drivers, you remove the possibility of carrying cash and credit cards. This means they can buy fuel and leave the station within seconds. This further leads to assets being reached at the warehouse in time, thus enabling the delivery persons to deliver products to customers quickly. These small changes significantly benefit your business as it increases your business efficiency and operations.
Increase Driver’s Accountability
After using the fuel cards, you can enhance your driver’s accountability, enabling them to put their actions on the grand scheme. You can track the fuel use and figure out how much fuel they are buying for the fleet. That way, you can question your spending and put your business under good check.
With fuel cards, drivers cannot misuse the fuel budget. They will be prohibited from buying additional fuel; if they do, they have to answer you directly. Hence, you are putting their accountability in check. That way, you can enhance your logistics and set the proper budget for fleets and drivers. Also, it will inform you on the areas you can improve as a business and put gasoline consumption in check.
Eco-Friendly Driving Practices
For any modern business, it is essential to follow eco-friendly practices, which will aim to reduce the carbon content in the atmosphere. Fuel cards can help you do that. With a fuel card, you can track the fuel consumption in your fleets and offer ways to limit it. This will gradually reduce the energy consumption from the trucks.
Furthermore, with fuel cards, you can quickly find the best and shortest routes for your trucks to carry assets. That way, with the shortest routes, your energy consumption will get lower with time and offer a green logistics chain. Hence, you can build your brand around that and get more engagement from customers and other businesses. So, use fuel cards to unlock your business’s new potential.
Fuel Cards, an Innovation for the Hour
In the end, fuel cards are the need of the hour. This is because they can lead your business to new heights. You can set the proper budget that addresses your fuel consumption and your driver’s expenses. That way, you can identify the issues and improve your system to expand and grow your business. Furthermore, you can unlock various discounts and promo codes, which will further reduce your fuel expenses.
Hence, you should contact the card companies right away to get the best deal for your drivers and your business. This will help you improve your business operation, especially your warehouse management and delivery personnel. So, get your card now and hand it over to the driver to see the benefits yourself. You can scale your business without actually cutting jobs and resources.
For more information, read the content above and get a better idea of fuel cards.
FAQs
Here are a few frequently asked questions –
What are the benefits of a fuel card?
A fuel card gives you control over the business expenditure and enables you to allocate the right resources for each fleet.
What can fuel cards be used for?
Fuel cards are mostly used to manage vehicle expenses. Drivers can also use them at convenience stores to meet their daily expenses.
Which is the best fuel card to get?
Universal cards like UK Fuels and DCI are the best fuel cards to use for your business.
