Businesses with legacy paper-based systems have traditionally had huge overheads to contend with, requiring a great deal of resources dedicated to processing incoming and outgoing payments.
Many organisations still rely on antiquated processes that end up costing more in the long term. Time and labour costs of managing purchases manually becomes impractical as a business matures, impeding speedy operations and slowing business growth. Carrying company cash and cards brings the risk of theft, loss or fraud, and employees often spend more time than they’d like keeping detailed records of their work-related transactions.
Fuel costs can be one of the biggest operating expenses for a business with people and things to move, and traditionally there was no way to monitor spending or track expenses for reporting. Overspending can go unnoticed without the accountability that comes with this degree of oversight.
Payment solutions that work well for your team consistently might seem like a minor convenience, but when multiplied across several of your key business metrics, the law of large numbers means fractional time and effort gains here and there, all day every day, can add up to some significant cost savings.
Modern business payment solutions like fuel cards allow for easy payments for your team while letting you set and automatically enforce additional rules about what can be paid for, by who, and when.
Tools that provide real-time visibility into where and when your staff make purchases can also offer insights into where your spending goes, and help to plan expenditure more effectively.
Businesses that leverage fuel card solutions can also find new sources of value—loyalty discounts, time and effort efficiencies, and partner incentives that multiply the cost benefits to modernising.
Fleet fuel card programs are a prime example of a frictionless payment solution that adds value to a business, automating away the slow and painful parts of payment processing while ensuring a tighter control on how funds are being spent.
A fleet fuel card program creates efficiencies and controls that help both the organisation and drivers, while also creating significant cost savings via fuel and partner discounts. They provide:
- A streamlined and efficient payment system, with one invoice for the fleet
- Real-time visibility into driver transactions and movements for fleet managers
- Control over purchase amounts, items, fuel types, locations and hours
A quick and convenient way to pay for fuel that’s more secure
Purchasing fuel with a dedicated fuel card avoids the need for general purpose business credit cards that come with high fees and more responsibilities for the individual holder.
Fuel cards also circumvent the need for drivers to carry cash or spend personal funds then wait to be reimbursed. Tap-and-go convenience and ease of use helps keep drivers on the road, not worrying about record-keeping or the logistics of fuel payment.
The advantages compound as fleet sizes grow. For many mid to large fleet operators, a fleet fuel card program is the single biggest way to save costs year on year.
Tighter control of business expenses and greater visibility of fleet movements
One of the biggest risks for fleet managers is credit card fraud or misuse. Without purchase controls, an occasional bad actor can inevitably find ways around the system with extra purchases of fuel or store items.
Implementing a fuel card program allows fleet managers to track and automatically enforce purchasing policies. Fuel cards provide an overview of fuel and other items being purchased per employee or vehicle, and fleet managers can automatically restrict certain types of purchase, such as snacks and drinks, while ensuring that only the right type of fuel is used.
Communication can be difficult to maintain while keeping everyone on schedule, so it helps to have “at a glance” passive visibility of fleet purchases to anticipate time and cost overruns before they occur. Online management tools are a helpful way to keep fleet managers across all the moving parts.
More efficient back-office processing, reporting, and tracking
Online capabilities also offer tracking and reporting to help create an audit trail for reporting. Administrative workloads can be reduced as the need for record-keeping, paper receipts and manual consolidation is eliminated.
Having access to a local human-manned support centre for any inquiries that arise can also help clear up administrative issues quickly, with minimal confusion.
CardLink have distinguished ourselves from competitors with a customer-first approach that focuses on high quality service and acceptance at the most refuelling locations in NZ, but we also offer a range of other complimentary services such as taxi payments and roadside assist, along with loyalty discounts and special offers on partner products designed to keep fleets moving.
If you like the idea of a frictionless fuel payment solution for your team members, but you’re not sure what’s right for you, get in touch for a no obligation chat.