What are the Benefits of Using a Fuel Card for my Trucking Company?
Updated: Mar 16, 2020
Anything that helps your trucking company save money and makes your life easier is worth using, right?
It's no secret that working in the trucking industry is expensive and time consuming. There are more operational costs than you can count on one hand. But when you do your research, there are ways to make this all easier. Fuel cards are one of those.
So, what are the benefits of using a fuel card for your trucking company? I'm glad you asked!
Discounts fuel people to spend more money. So, when you're spending the money anyway, discounts make swiping that card a little easier. Truck drivers have to buy fuel, and using a fuel card for those purchases means you'll never pay full price for fuel again! Over the course of the year you can save thousands of dollars filling up your truck.
2. CONTROL OVER YOUR SPENDING
Whether you have a multi-truck fleet or you're an owner operator, you can control what you spend with a fuel card. If you have truck drivers that drive for you, you're also able to control and monitor their spending and set budgets and purchase limits. All this control over spending, limits fraudulent activity too.
Fuel cards are convenient. No one will have to pay out of pocket for fuel and they will never incur the cost of fuel. This means not having to chase anyone to get reimbursed or handling receipts. Fuel cards allow drivers to feel comfortable on the road knowing they have the funds on their fuel card to use and don't necessarily have to carry extra cash for fuel expenses.
The more flexible your fuel card is, the better for you. The best fuel cards offer extra benefits like discounts on tires, repairs, lodging, and food and drink at certain locations. Drivers can find the nearest locations of gas stations with the cheapest prices via fuel card apps. Some will also track your IFTA reporting. If you work with a factoring company, you're sometimes able to get funded straight onto your fuel card as well.
Now that you know the benefits of using fuel cards for your trucking company, it is important to shop around for ones that meet all the criteria you want. Often if you partner with a factoring company, they will provide you with a free fuel card - we do! Our fuel card also covers the cost of your factoring!