With the prices of gas going up by the day, the possibility of employee theft is a nagging thought for many business owners. It is especially true if your business requires you to refuel several vehicles regularly.
Your fleet managers cannot be everywhere your truck drivers are, and in most cases, some of your business purchases may go unchecked, and unsupervised.
Such insecurities are reasons why you should execute a gas card program for your business.
These cards are of great benefit to any business as they will help you as the business owner, to reduce cases of fraud in your company. They can also assist your business to operate more effectively and efficiently.
Below are other benefits of using these programs for your business.
1. Promptness Of Notifications
As a business owner who has been using cash payments for fuelling your fleet, you will notice that controlling purchases is very difficult. However, with the use of gas cards for your business, it is effortless to track purchases because you can set up notifications for them.
You can set up notifications hourly, daily or even weekly. Warnings are an effective way of managing your fleet. It is also great for checking whether they are fuelling at designated points, or if purchases are out of a specific geographical area.
2. Control of Expenditure
Since these cards require the use of a PIN for purchases, you will be able to confirm purchases and even restrict transactions. For example, you can limit operations to twice daily, or require only up to a certain amount of money used per day.
Your fleet managers will have an easier time as they will be able to control usage of the cards.
3. Detailed Data
You can set up your card program in such a way that you get a detailed report of its usage. Details if the report may include a driver who used the card, fuelling location, the time it is in use, and various costs per gallon or mile.
Detailed reports can give you an overview of which routes will cost more, and you’ll be able to plan your budget accordingly.
4. One-Stop Billing System
With the use of gas cards, your accounts department will be more organized. You will have no more physical receipts lying around. You will have a more centralized system of billing, and every card will have its invoice.
No information concerning your expenditure will get lost as it’s all in one place and you can retrieve it at your convenience.
5. Greater Coverage
With the use of these cards, your fleet has backup no matter the geographical area they are. Your drivers can gain entry into more than 50,000 in-network gas stations and a large number of maintenance service stations.
Increase in coverage makes it very convenient for drivers as they can refuel anywhere on the road and get access to the best fuelling and service stations that have reached the cheapest rates. As a result, in the event your fleet needs to be serviced along the way, you get to find out exactly where it can happen and whether the service competently conducted.