The Benefits of Using a Fuel Card
There are a wide variety of benefits of using a fuel card, all of which are available to business customers. With a comprehensive choice of fuel station networks, fuel cards are a great way to improve cash flow, save money, and reduce the time taken to process lengthy administration tasks. All of these free up your time so you can focus on what really matters – growing your business. So, what are the benefits of business fuel cards?
Top 10 Fuel Card Benefits
1. Not having to pay with or handle cash
Instead of paying for your fuel with a bank card or cash, a fuel card can be used to purchase fuel. A secondary benefit of business fuel cards is that there’s no way to spend them on anything other than fuel.
2. Fuel cost savings
One of the most important benefits of fuel cards for businesses – as an owner, driver or fleet manager, is that a fuel card can help to cut costs, providing businesses with a reduce fuel cost rate depending on the fuel card used.
3. Provides much closer management of fuel spend.
Many fuel cards have a spending cap on them, so you’re able to control your fuel spend and budget accordingly each month across all of your drivers.
4. Reduces administrative time and tasks
You’ll be pleased to hear that one if the main benefits of fuel cards for businesses is that there’s no need for receipts to be collected or spending to be recorded by drivers! Meaning that you’re able to save time on administrative tasks, such as processing expenses and focus on other tasks.
5. HMRC approved invoicing produced
One of the greatest benefits of using a fuel card, is that detailed HMRC-approved invoicing that is produced and sent directly to you. This can also be downloaded online, so everything on your fuel card account is easily accessible and to hand.
6. Flexibility and variety
Having all the previous benefits mentioned doesn’t mean you need to compromise on location and convenience for drivers who cover a lot of miles. Forecourts and fuel networks can be made up of hundreds of sites across the country. Flexibility is a vital benefit of business fuel cards. Want to know where you can use your fuel card? Check out our handy garage locator tool to see exactly where your fuel card is able to be used.
7. Payment security
Only the registered users of a fuel card can use it for fuel payment, meaning if a card gets lost or stolen, nothing can be spent on that card. Another benefit of using a fuel card is that they tend to be configured to be used to purchase fuel and relevant fuel related products (AdBlue for example) only. So, you can rest assured that no unexpected costs will occur and your budgets can stay intact.
8. Access to a breadth of data
When it comes to fuel card benefits the monthly reports and data produced from fuel cards are highly impactful. The insights provided mean you can optimise your drivers’ efficiency and understand their driving and refuelling habits clearer than ever before.
9. Fuel points and rewards
With certain fuel cards, such as supermarket fuel cards, you can gain points that can be used towards rewards schemes. This is a great insensitive and possibly a way of utilising your fuel card to reward your drivers with being able to use the points collated on the cards they use.
10. Employers and employees alike can benefit
The benefits of fuel cards for businesses don’t just apply to management. Both employers and employees stand to benefit from using a fuel card. Fuel cards give more independence to drivers as they don’t have to explain their choice of routes or costs, they’ve racked up on company cards. The insights fuel cards provide mean you can clearly see the routes each driver has taken and of course the cap on unrelated fuel product spend eliminates the need for speculation.
What Fuelmate Do
We work with all of the major re-fuelling networks to provide a card solution that can be mixed and matched to achieve extensive national coverage for fuel purchases.
Our fleet solutions are based on your current and evolving needs. We will continue to tweak and develop your package as your operational requirements and goals change. This ensures you’re always receiving the best fuel card benefits and that they are comprehensive and competitively priced.
We believe that the benefits of using a fuel card are endless, making fuel cards valuable additions to any business. For more information on the bespoke fuel card packages we can provide, please contact our expert team or take a look at our complete guide to fuel cards to learn more.