Why businesses use fuel cards
Fuel cards - the way forward for your business!
Fuel cards are quite literally the most flexible way to manage costs when it comes to running a fleet of commercial vehicles, whether it's a small number of smart cars or a huge army of HGVs. By giving staff
petrol cards, you'll be able to keep tabs on their spending, have the ability to see all transactions and view the private and business mileage travelled on a statement through itemised billing - so there's less paperwork for you at the end of the month. And at the end of the year, VAT recovery becomes a simpler task too!
There are a number of pros in terms of security too, as it's usually possible to set spend limits on fuel cards, as well as making it impossible for any potential thieves to use the card on a non-registered vehicle, so fraud will almost certainly be eliminated. In most cases, you'll reap the rewards of wholesale fuel prices if you 'buy in bulk', and you can keep an eye on the efficiency of your fleet by gathering all the information on statements to calculate the MPG achieved.
For staff, a
fuel card is a great way to make business trips hassle-free. There's no need for them to worry about carrying cash, keeping receipts and claiming back expenses at a later date. And for all those late night meetings, stopovers or overnight deliveries, fuel cards are normally accepted 24/7.
For you, using
fuel cards is a non-intrusive way of monitoring individual vehicle or driver efficiency as they go about your business. You'll have a better idea of the petrol prices they're paying for example, which could help you decide whether to re-route them in order to benefit from the lowest 'pence litre' rate. You could also compare the cost of a diesel vehicle versus a petrol one, using fuel cards to gauge costs, mileage and re-fill intervals when the time comes to invest in new vehicles.
Here's a summary of the many benefits of fuel cards. Can you afford not to change the way you pay?
o Reduced paperwork
o Increased control
o More information for efficiency checking
o Convenient - better staff morale!
o Elimination of fraud
Why businesses use fuel cards
By: Branden Acevedo
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