Why Fuel Cards Are Better Than Cash
Posted: Nov 16, 2016
Fuel tends to be one of the biggest expenses in most types of businesses, even when the prices of petrol or diesel are going down. Hence, you need to make sure that you are able to manage and control your fuel expenses to ensure profitable operations. Using fuel cards is one of the most practical means for your business to manage its fuel costs and oversee fuel use. Instead of using corporate credit cards or paying in cash, you can opt to pay with fuel cards to control spending, effectively manage your fleet, and prevent your drivers from making unauthorized or unnecessary expenses. You will have a better way to monitor fuel expenses, too.
Why not just pay in cash?
Giving fuel money to your drivers may seem practical if you have a small fleet, but there are some downsides to a cash arrangement. When your drivers pay in cash, the only proof of fuel purchase is the receipt—which they can very easily lose or misplace. These paper records are time-consuming to go over and process for proper record-keeping, too. With fuel cards, you do not have to worry about those setbacks associated with the petty cash method. A high-quality fuel card lets your business refuel within a network of reputable and authorized gas stations and provides complete details of every transaction. This way, you have a more organized and easier way to control your fuel expenses, while saving money and time.
The many ways by which that fuel cards are better than cash
Unlike conventional payment methods, fuel cards offer superior control, the convenience of use, and reporting features. Reputable providers of fuel cards offer different options in fleet fuel cards, so you should be able to find the right product for your business. Some cards come with rewards and special features for small fleets, mixed fuel or diesel fleets, and volume buyers. With fleet cards, your business may achieve fuel savings of up to 15 percent.
Fuel cards help reduce unwanted spending in your company. Customizable purchasing options allow you to pick when, what, where, and how much fuel can be purchased. And with detailed reporting, you can manage all fuel expenses in your company. Fuel cards eliminate unauthorized purchases by letting you authorize, track, and control fuel purchases. They come with the security of requiring your drivers to input their ID number. By reducing or eliminating fraudulent fuel charges, your business gets to save money, too.
This article is written by Tom Nutt, a public relations consultant of PR Point. PR Point is a leading global public relations and communications firm dealing with major oil companies and providing counsel and program development.