Benefits Of Using Fuel Cards For Your Trucking Company

Fuel cards for trucking companies are a secure, safe payment solution that eliminates the need to carry cash or pay unnecessary credit card fees. They also provide other savings on maintenance, repairs, document scanning, lodging, and more.

Fuel cards are not created equal; you should shop for the best options. Several factors will determine which fuel card is right for your business:

Save Money On Fuel

Fuel cards offer cost-control benefits, enabling businesses to monitor spending closely. They eliminate the pay and reclaim payment process, leaving a business facing unexpected monthly costs when drivers hand in their claims. Instead, a fuel card will provide an HMRC-compliant invoice and transaction data through online management tools that can be reviewed when you choose.

Fuel card providers often offer additional discounts and savings on top of the pump price, reducing fuel expenses even more. These discounts can come as a point-of-sale or monthly fuel purchase rebate.

Owner-operators can also make the most of a fuel card’s features by pairing them with a GPS tracking system or an odometer to analyze their fleet’s mileage and route costs. It can help identify areas for improvement and save the company money in the long run.

Save Time At The Pump

Your trucking firm can easily purchase fuel without using up company funds with the help of fuel cards for trucking companies. It also simplifies tracking fuel purchases and submitting IFTA reports, depending on your chosen card.

Some cards offer discounts on per-gallon fuel prices, while others may provide discounts through monthly rebates. Whichever type of fuel card you opt for, a fleet fuel card will likely save your company money by eliminating additional expenses that can add up over time, such as truck stop fees and CAT scale transaction costs.

Many fleet fuel cards offer various features, such as customizable reports and controls, to help you reduce spending. You can use a fuel card to set purchase limits, find cheaper fuel, and more, giving your company peace of mind that your drivers are driving efficiently.

Convenience For Drivers

There is no doubt that fuel costs are one of the most significant expenses for trucking companies. Fuel cards can help trucking companies save money by offering discounts on the per-gallon price of fuel at in-network locations. The best cards also have other benefits that can make a difference for trucking companies, large and small.

Many fuel card programs offer fleets the ability to track purchases in real-time and access detailed reporting. It allows managers to see what drivers are spending, where they’re spending it, and how much they are saving. The data can then be used to improve efficiencies in the company, for example, by pinpointing routes and locating stations that offer the most savings.

Other benefits can include setting daily limits on fuel purchases, which prevents your fleet from overspending. Some cards also come with a roadside assistance feature, which is especially useful when your drivers are on the job and need to call for help. Lastly, some fuel cards can integrate with accounting software to automate expense tracking and IFTA reporting.

Increased Efficiency

Whether for small trucking businesses with a fleet of just a few vehicles or larger organizations with thousands of trucks, fuel cards provide many benefits that make them an essential tool for companies looking to streamline their operations. They save on per-gallon prices by offering a discount at in-network gas stations, providing real-time reporting to reduce accounting headaches, and streamlining International Fuel Tax Agreement (IFTA) compliance.

While most fleet fuel card programs charge a small transaction fee, they can save fleets a significant amount of money in the long run. Some fuel cards also offer discounts on truck and equipment maintenance and other services such as hotels, meals, etc.

When choosing a trucking fuel card, check to see if it provides access to a user-friendly dashboard that allows you to track expenses via live notifications and structured reports. Also, look for a card to control spending and set daily transaction or gallons limits. It can help prevent fraud and improve operational efficiency by maintaining transparency between the fleet and drivers while on the road.

Increased Customer Satisfaction

Using fuel cards for your fleet offers your company many benefits. They are easy for truck drivers, function like credit cards, and allow fleet managers to track costs and set spending controls. These are essential features for a trucking company, especially if you’re an owner-operator.

Many fleet fuel cards offer additional administrative management tools through an online account. These can include automated IFTA reports, expense tracking, and integrations with third-party software. Some also have a mobile app that allows truck drivers to find nearby partnered fuel stops and compare prices. They may even have roadside assistance as a bonus perk!

There are a lot of fuel cards for trucking companies to choose from. Choosing the right one for your company is critical for optimizing profit margins and streamlining operations. Consider the fueling locations you need, the amount of savings per gallon, and other vital features when evaluating different options. Also, ensure you’re not paying unnecessary monthly or transaction fees.