Fuel Card Mismanagement Costing Fleets Money
The results of a survey conducted by TrackCompare has yielded surprising results for the managers of commercial fleets, as well as important pointers as to how they may improve their cost benefits by making some simple internal changes.
The survey assessed two major issues: what the top perceived benefits of fuel cards are for company fleets, and whether those benefits were in fact being realized. Over 3,500 fleets were included in the survey, and the results were eye-opening.
Of the fleets surveyed, over 40 percent indicated that they do not use fuel cards, with the number one reason being a lack of awareness of the benefits offered, followed closely by people not using them because of their inability to qualify for credit.
Of those using the cards, nearly half were van fleets, and the number one cited reason for using them was the opportunity to purchase fuel at a lower cost. However, despite that reasoning almost sixty percent of those using the cards indicated that that they had not realized any savings despite the availability of discounts, and nearly a third said that they never familiarized themselves with the benefits offered by the card.
Though those who took part in the survey and who were using the cards did acknowledge that a key benefit to their use was the administrative ease of tracking expenses and getting single monthly billings, it was generally acknowledged that better communication could save many companies as much as five percent on their fuel expense.
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