Fuel is one of the most significant expenses for trucking businesses, so saving at the pump is a big deal. Fuel cards also help managers track driver fuel consumption through account management and offer detailed reports to identify inefficient driving patterns.
Quality fuel cards include adjustable spending controls, daily gallon and transaction limits, postal code restrictions, and more. They also provide transparency and documentation through real-time online transactions.
Know Your Limits
Whether an owner-operator or managing a fleet, fuel cards are an excellent tool for controlling expenses. They help you save money on diesel and streamline back-office processes.
The best trucking fuel cards also help you track expenses and budget effectively. They have a dedicated app that allows you to view activity in real-time and access custom reports. Some even offer freight factoring and additional savings on gas and diesel.
Another benefit of a sound trucking fuel card is that it eliminates internal theft. Many drivers who use stacks of cash are targets for theft, but fuel cards are a safe and secure way to pay for diesel. They also allow you to plan and take the cheapest routes, saving time and money.
Manage Your Spending
Keeping track of expenses is critical for any trucking company to stay profitable. It is especially true for owner-operators responsible for covering fuel costs and other on-the-road expenses without the benefit of corporate expense accounts or expense reimbursements.
One of the best ways to control fuel spending is by implementing a trucking fuel card. It allows fleets to monitor and control fuel costs through real-time, detailed reporting. This information can also automate IFTA filings and reduce overall fleet fuel costs.
Another way to manage expenses is by categorizing them into fixed and variable categories. List your monthly expenses, including fixed items like rent or mortgage, insurance, and vehicle payments. Then, move on to your variable expenses, such as food, gas, and entertainment.
Pay Your Bills on Time
Taking advantage of special offers is one of the best ways to save money on fuel. Some trucker fuel cards offer exclusive perks that can help you save even more.
Another way to save on fuel is by purchasing in bulk. Most trucking fuel card providers offer discounted bulk fuel rates for owner-operators. However, the savings can vary depending on your route and the fuel stations available in your area.
Regardless of your fleet size, fuel cards are an excellent tool for saving on significant expenses. They allow you to track fuel purchases in real-time, audit expenses, and automate IFTA reports.
Track Your Expenses
Trucking companies can save money on fuel and other expenses with fuel cards that offer significant discounts. In addition, they can track their purchases and use the data to make decisions that decrease costs. It helps to prevent internal theft and gives managers a clear overview of spending across the fleet.
Fuel card providers also have enhanced fraud protection systems that help to mitigate risk by requiring PIN entry or driver ID verification to use the card. It increases security and allows managers to block cards remotely if suspicious activity occurs.
Additionally, some cards can be used at more than 8,000 locations, making them suitable for most long-distance trucking routes. Other features can include a free GPS integration to find the lowest-cost stations, help plan routes that maximize savings, and streamlined IFTA reporting.
Keep a Close Eye on Your Credit
Truckers can maximize savings with fuel cards and closely monitor their usage and spending. These payment solutions are more than just a card with a discount and come with a host of tools to help manage expenses and streamline back-office processes. The best trucking fuel cards offer fraud protection, a dedicated account manager, and valuable reports simplifying tracking and budgeting expenses.
Whether you’re an owner-operator or a fleet, finding ways to cut costs is essential. Fuel cards provide many cost-saving benefits, including streamlined IFTA reporting, easy expense tracking, and a mobile fuel finder that helps drivers save at partnered stations along their route. Often, fuel cards also feature point-of-sale discounts and monthly rebates. It eliminates the need to submit receipts and wait for reimbursement on a paycheck, which can add up quickly.
Don’t Overpay for Fuel
Using trucker fuel cards provides valuable financial benefits for the owner-operators and fleets who use them. They allow trucking companies to improve fleet management and control, slash operating costs, and provide in-depth transaction data to their accounting teams.
With many factors influencing profitability, the best trucking fuel card programs are designed to help drivers and their companies keep their costs low. These tools eliminate the hassle of tracking expenses manually and save money by offering fuel-specific discounts, lower fees, and streamlined IFTA reporting.
Some trucking fuel cards also allow fleet managers to set daily spending limits for fuel, convenience stores, and other items at the point of sale. It prevents overspending and ensures the right people pay for the company’s fuel.
Take Advantage of Special Offers
Trucking fuel cards are an excellent way for owner-operators and fleets to save on one of the enormous business costs. They offer a variety of other benefits, such as discounts on maintenance, insurance, and more.
They also help to eliminate the need for cash advances at truck stops and make it easier to budget expenses. Many fleet cards allow you to set daily limits on fuel, convenience store purchases, and more. If the card is linked to your accounting system, putting in expenses is as simple as entering the number and linking the two, saving you time and eliminating manual receipts tracking.
Whether you are an owner-operator or operate a fleet, a trucking fuel card can help you maximize your savings by providing cost savings, improved convenience, and fraud protection.