29 Jul Why are fuel cards a great idea for grey fleets?
Why are fuel cards a great idea for grey fleets?
Fuel cards are a great addition to most companies including grey fleets.
14 million people drive a vehicle for work, 13 million drive their own vehicle for work and are reimbursed, this is called a Grey Fleet.
Grey Fleets are a way for companies to limit costs when their staff don’t have high business mileage.
This trade-off comes at a cost to administrative resources. Grey fleets take a lot of looking after, there is the financial aspect and there is also the legal aspect.
Introducing the use of fuel cards into your grey fleet will have meaningful benefits for both the administration staff and the staff at the wheel.
Fuel cards allow your grey fleet to purchase fuel via secure cards linked to one account.
As this is a cash-less and paper-less system, managers can:
- Control costs
- Divert resource
- Save money on employing staff
- Cut down on laborious processes
- Eliminate claim validation
26.4% of claims are presented with an invalid receipt
25% of claims are falsely inflated
The administration of fuel cards offers a fully transparent mechanism where the details of every transaction are recorded. This is a major deterrent against fraud and can help promote better driving amongst the fleet. In combination with this is the inherent safety features built into the system. All fuel cards are PIN protected and can be linked to a specific vehicle or driver.
Online Customer Portal
Managers access their fuel card accounts through a free online portal which allows them to:
- View itemised transactions
- Download VAT compliant reports
- View Copy invoices
- View History statements
- Transaction enquiries
- Order new cards
- Make Stop card requests
The other significant advantage of fuel cards is the payment terms. Managers will receive weekly invoices and payments are twice monthly.
This is better for cashflow than one big reimbursement every month.
For your grey fleet drivers, fuel cards offer a more convenient way of paying for fuel.
It allows workers to focus on their jobs as there’s no need to carry cash, collect receipts or fill in claim forms.
Also, employees are not out of pocket and waiting till the end of the next month to be reimbursed.
Fuel cards have many distinct advantages over using credit cards:
- Diesel is charged at a fixed weekly price which is usually cheaper than pump-price
- Purchases can be limited to cover certain goods
- Fraud is easier to detect and address
- No fluctuating APR which means you only pay for the fuel
Cambrian Fuel Card Services offers a range of cards to suit any fleet regardless of location and size.
Our strategically chosen network covers over 8000 locations nationwide and covers branded, independent and supermarket sites.
Our commitment to customer satisfaction ensures our clients don’t pay card charges, network charges, no setup costs, no transaction costs or minimum spend limits.
For more information, contact one of our account managers now on 0800 612 6132 or go to www.cambriancards.com
Watch our grey fleet video here