If you have a business related to fleet of cars, fleet cards are perhaps your best bet. In this article, let us find out how your small business can benefit from these cards. So, lets delve deeper into the subject for greater insight.
Find out how your business will benefit from these fuel cards
- Control the purchases
Having a fleet of cars means you have to refuel the vehicles at regular intervals, perhaps on a daily basis. Many a times, drivers tend to misappropriate funds by manipulating refuel funds. However, with these cards, a driver is required to enter his PIN or personal identification number whenever he is purchasing fuel. As such, as a business owner, you can keep track of the transactions that are taking place on the card.
- Universal coverage
Universal coverage means that you will be able to buy fuel at reduced costs at certain gas stations and also shop for brands for discounted prices. This is helpful because regardless of the route you are driving on, you can refuel at any gas station with the fleet cards at lower prices and you do not have to deviate from your route to avail this facility.
- Online card account management
Regardless of whether you are buying fuel from a single branch or from multiple gas stations, the details of transaction of your card account will be available online. As such, you will be able to access all information from the comfort of your home or office or even while you are on the go.
- Billing is centralized
Having a centralized billing facility allows you to streamline the billing process. Even if your vehicles are plying outside your city or state and refueling in various gas stations, you will still be able to receive bills in the centralized billing system. This also holds true for getting invoice from individual fuel stations too.
- Tax exemptions
Using fleet cards will allow you to enjoy tax exemptions provided your fleet is eligible for it. These exemptions are usually in form of state and federal excise taxes. Agricultural fleets can avail partial exemptions on sales tax.
- Faster and better transfer of data
You can electronically transfer data to your centralized billing system. In other words, you enjoy the provision of electronic data transfer. Not only that, any software application that you install in the system can be made compatible with all your files. It is customizable.
Aside from that you can represent data in form of pivot tables and draw up graphical representations of the data in Excel. This will offer a better insight into the daily operations and eventually make it easier for you to better or make improvements wherever necessary.
- Access to Level III data
It is not possible to access Level III data when it comes to fuel purchases. However, there are many cards that you can use with which you can access Level III data, which comprises getting details like driver identification, vehicle identification, and information pertaining to CPM or cost-per-mile and MPG or miles-per-gallon.
If you avail the fleet cards, it is one of the best decisions you will make for your company. However, just make sure that you sign-up from a reliab