If you have the proper fleet credit card for your business, you only not save money; but build your credit as well. The correct credit card can easily be integrated with your company’s current fleet management, accounting, and Enterprise Resource Planning systems.
Before we proceed further, take note that these credit cards are not entirely similar to gas cards. Gas cards are particularly used to purchase fuel while fleet cards allow your business to purchase not only fuel, but also maintenance service within an association of authorized merchants.
Utilizing these financial tools enable your business to be competitive and have an efficient management and strong control of your company’s fuel expenditures. This management efficiency will result to more savings.
The Features and Benefits Your Fleet Credit Card Must Have
In order to achieve the kind of service that you need from a fleet credit card, it should possess the following features and benefits.
- It should provide Convenience. Convenience is achieved if the fleet card is accepted in almost any location for fuel, repair and service. Wide acceptance will not only provide convenience, but also better productivity.
- Provide complete Control by the implementation of pre-determined controls by card or by driver in order to achieve real knowledge that your guidelines for fueling are not abused.
- The fleet card package should have an effective Reporting system. The issuer should provide a secured website that will allow you to a complete group of vehicle, exception reports, and driver.You also must have a real-time access to your credit card account. You should be able to answer if a control requires alteration; such as when an additional or cancellation of a card is needed.It should be easy for you to immediately react to any internal request for data. A report on the details of all transactions will enable you to see where your staff fueled, when and who fueled, how many gallons were purchased, the odometer reading at the time of purchase, and the cost for each transaction.
- Having Savings is the goal of any business organization. It is not enough that companies are able to make profit; they should be able to obtain savings.Some fleet credit card providers offer fuel rebates that provide additional savings for the company.In the absence of additional offers, the combination of the different features and benefits mentioned above will already provide considerable savings for your company.
Fleet Credit Card is Perfect for Small Businesses
A fleet credit card provides the same cost savings, benefits, and features to small businesses. The benefit of having maintenance, fuel, and repairs with only one invoice is a great convenience for small businesses.
Small businesses do not need to open numerous small accounts or pile up large numbers of invoices from different suppliers.
Before you go and apply for a fleet card, bear in mind that this card will not exempt you from making payments and credit reporting. Therefore, make sure that you manage your fleet card very well.
Choosing the proper fleet credit card for your business will enable you to begin protecting, managing, and minimizing your company’s fuel expenditures while maintaining your personal credit and assets