These fuel cards offer more than just convenience for paying for fuel. This guide will show you all the benefits that your business can reap from them.
There are many benefits to fuel-saving cards, but the most important one is that it helps all businesses, no matter how big or small. What’s the benefit? They can save you money.
Fuel cards can save money by reducing admin time and giving you access to fixed weekly fuel prices. Fuel cards offer many money-saving benefits.
Your business can also save money with fuel cards. They make it easier to file VAT claims and help you get a tax rebate from HRMC. You might even be able to say that fuel cards are money-making tools for your business.
- Potential savings on fuel
Many fuel cards offer additional savings and benefits. Fuel cards save businesses around 3p per gallon, depending on the brand and country. Your business can save more money long-term if you increase efficiency and productivity.
You have a variety of payment options. There are pump-related prices and fixed weekly rates. Some cards also offer capped pricing. You will always have the best fuel prices regardless of which card you choose. Fuel cards can only obtain this unique benefit.
2: Interest-free credit
Access to credit is essential for every business at some point. This will allow you to grow your business and make it more efficient. The main benefit of a fuel card is the ability to access interest-free credit. A fuel card allows your company to access the funds required to keep its wheels on the road.
3. Improved cash flow
Cash flow is often a problem because many businesses do not receive payment until the product is delivered or the project is complete.
Fuel cards are invoiced every week, which is a benefit. This will allow your company to break down monthly fuel costs into smaller, more manageable bills.
4: Greater control over business expenses
While fuel cards can be distinguished from business credit cards in many aspects, the most important thing is that they only apply to vehicle-related purchases.
You can buy fuel with fuel cards, but you also have the option to purchase other products necessary to keep your vehicle running.
Depending on which card you choose, you can place additional restrictions on certain forecourt services. All purchases are made for your business’ benefit.
5: Help with planning and budgeting for fuel
Fuel cards are a great option for businesses because they can be managed online.
This will allow you to see your actual fuel consumption and spending. It also makes it possible to project future fuel costs.
Account management’s reporting tools allow you to see trends in fuel expenditure over time, which can help with budget planning.
6: Simple monitoring of MPG, fleet efficiency, and fleet efficiency
Fuel cards give you detailed and accurate reports on the fuel consumption of each vehicle. This allows you to identify inefficiencies and increase fuel economy.
A report might highlight, for example, that a driver is using significantly more fuel than other drivers in the fleet.
An inefficient driving style could explain this, and driver training could be organized.