Reducing fuel costs in your business isn’t just about driving efficiently. There is another great way that businesses can help reduce costs by simply changing how they pay for fuel.
This is why a large number of UK businesses choose fuel cards. Business fuel cards allow your staff to fill up using a dedicated card which offers a wide range of cost-saving benefits. For those businesses such as fleet operators and hauliers, they can offer substantial business benefits which can prove vital in highly competitive markets.
Save money on fuel
Some fuel card providers fix the price of fuel to below forecourt prices. These savings can be up to 3p a litre cheaper than those advertised. Over a large fleet of vehicles, even just a small saving per litre can represent a huge saving in overall fuel costs to the business.
Control your outgoings
A fuel card lets you see exactly what you’re spending on fuel, where and when. They let you budget for business fuel expenditure and allows you to plan your fuel costs in advance. Fuel cards also let you monitor fuel usage for your drivers, allowing you to access their efficiency. It can highlight where driver training / education is required so you can maximise your fuel usage and minimise waste.
Help prevent fuel fraud
Fuel cards can be tied to a specific vehicle preventing fraudulent claims. It’s a great way to stop your employees from filling their own cars at your expense. They also record vehicle mileage, allowing businesses to monitor mileage and highlight any “discrepancies” which could have previously gone unnoticed.
Reduce admin fees
Since your drivers won’t have to be compiling receipts, expenses claim forms and paperwork it will reduce administration time and hassle, leaving staff to get on with doing their job. The centralised billing makes it easier for VAT and expenses claims for the business without the headache of lost fuel receipts and tardy mileage claim forms.
Fuel card disadvantages
Fuel cards are certainly a compelling product for many businesses. Just make sure you take into consideration the points below
- Some cards charge monthly or annual fees. These fees should be taken into consideration when choosing the right fuel cards for your business requirements.
- Typically, certain fuel cards can not be used at all fuel stations. Some fuel card providers offer services such as a mobile app allowing cardholders to easily locate the nearest fuel station when they need it most.
Finding the right fuel card
Whilst the benefits of a fuel card are highly compelling, choosing the right fuel card for your business is just as important. Websites such as iCompario let you compare fuel cards, allowing you to find the most suitable card for your business with ease. Their website offers a quick fuel card compare feature allowing you to specify your card requirements in one easy to use form. To learn more about iCompario and find the best fuel card for your business check out their website.
Let’s hear from you
Is your business using a fuel card? What how have fuel cards help improve your business? Let us know in the comments below