Tired Of Making Paper Receipts? Get Fuel/Fleet Cards For Fleet Businesses

Are you a fleet owner who uses paper receipts to track fuel expenses? If yes, you may have experienced troubles like overspending on fuel consumption or reporting errors. Do not worry! We are showing up with a perfect solution to solve this problem. Yes! It is possible to overcome these issues.

In this blog, you will read about fleet cards for fleet businesses. First, let us explain the meaning of fuel cards for a deep understanding and then explain their benefits.

What Are Fuel Cards?

When you look at credit cards, fuel cards are similar. The difference is, fuel cards are mainly used for purchasing fuel at gas stations. If you have a fleet business, these cards are the best option for managing expenses. This payment card provides you with a convenient and real-time report of your fuel usage. How to use it? At the time of refueling, you have to swipe the card that is linked to an account.

History Of Fuel Cards

Fuel cards have an interesting history. In the 1930s, there was a company named Oil Company of California, which introduced a credit card that could be used at their gas stations. People used to purchase gas and other products on this card and pay their bills at the end of the month.

In the 1970s, companies like ARCO and Texaco provided cards that were particularly made for paying the fuel expenses of fleet owners. After that, in the 1980s, fuel card programs introduced electronic tracking systems. With this, fleet managers used to monitor their fuel and identify which area could reduce cost.

Between the 1990s and early 2000s, these programs introduced online account management systems. Due to this, managers could access reports and analytics and then manage their accounts more easily. The use of fuel cards in businesses has become productive.

At present, these cards are used by commercial fleets as well as by individual consumers who desire to maintain their fuel expenses.

Why Replace Paper Receipts With Fuel Cards?

Reduces errors

When you use fleet cards, the data is transferred to the dashboard. A dashboard is a control panel where your reports are created, which means there is no risk of human errors. But why is this reduction in errors so important? Let’s understand this with a scenario.

Imagine a delivery driver having long hours of work and tight schedules. After a fuel stop, the driver places his paper receipt somewhere. It can be a glove department of a vehicle, and thinking he will record it later.

However, when the day comes to show the report, the receipt is torn or even missing. Now, the driver can face an issue with an error in his expense report. It leads to frustration and waste of time. What can a person do in this situation? He can switch to a fuel card system. If he gets a fuel card, such errors can vanish. When each transaction is digitally recorded, it ensures accuracy and no need to use paper receipts.

Avoid delays

When you think of recording your fuel expenses on paper receipts, it can cause delays. How? Drivers usually wait for approvals after submitting receipts. It slows down their schedules and impacts their productivity. Additionally, unexpected issues can also occur. It includes misplaced cash or rejected cards at the pump, which creates further hold-ups.

As a solution, you can opt for fuel cards. These cards solve such problems by providing instant payment authorization and automated record-keeping. As a result, drivers can refuel quickly without worrying about misplaced cash or paper receipts. By doing so, fleet managers can receive real-time updates on expenses. This method ensures smooth operations as it keeps drivers on the road and reduces downtime.

Lessen potential misuse

Potential misuse of fuel payments can occur in many ways. It includes personal fueling on company accounts or unauthorized purchases. For example, a driver might use company funds to refuel their personal vehicle or buy non-fuel items like snacks. The problem is such activities can not be displayed anywhere if you use a paper receipt. Also, if you directly ask them, the driver might deny it.

Not only this, the misuse could also be inflated claims due to tampered receipts. It refers to a situation where drivers change fuel receipts to show higher amounts than they actually spent. Where does that misuse affect? It can lead to financial losses for the company as they end up reimbursing false expenses. It can also create trust issues between employees and management. To overcome this, fuel cards are the best option. It ensures the reported expenses are accurate and tamper-proof.

Fuel Card Benefits for Fleet Businesses

Enhanced Drivers Focus

Driving on a road is not an easy task. It does not matter whether the route is short or long, drivers have to think a lot. It may include keeping track of paper receipts or worrying about reimbursement delays. This may create stress and distract them from their actual job. For example, a driver might rush in meeting report deadlines instead of focusing on timely deliveries.

However, if you switch to fleet fuel cards, you can enhance the focus of the drivers on the road. How? These cards provide record-keeping and automated payments. Drivers can simply refuel and get back on the road as they know the expenses are accurately tracked. This stress-free solution lightens the load of drivers and lets them focus on safe driving. Hence, this will improve the overall productivity of the company.

Spending Control

Updated fuel cards come with an online management system. It lets fleet owners set clear limits and restrictions on fuel consumption. They can customize cards and control the amount that drivers can spend on per transaction. It can be adjusted according to per-day transactions or within a fixed time period. This can help to prevent over-spending and ensure that fuel expenses stays in budget.

Lets take an example, a fleet manager can set a daily spending limit for each driver. It makes sure they purchase the necessary amount of fuel for their routes. Also, these cards can restrict drivers from spending on non-fuel items. The real time reporting also helps managers to monitor spending patterns or finding strategies as needed. Hence, this makes sure that businesses make informed decisions and maintain tight control over fuel consumption.

Conclusion

Let’s come to the conclusion! As you have read the fleet fuel cards are beneficial to have. It can be used by anyone, whether you are a fleet owner or utilizing it for personal use. In this blog, the focus was on fleet businesses. Do you know why? When you run a business, it’s hard to trust anyone you are working with. In some cases, fleet owners can face fraudulent acts from their employees. To simply avoid this, fleet cards are really important. Hope this information helped you make your decision!