Growing inflation and rising fuel costs have made it challenging for everyone to manage finances. This is especially true for those with large vehicles, whose maintenance costs have skyrocketed.
Current conditions have forced fleets to be more innovative in the way they solve problems. As costs rise and labor continues to be hard to come by, companies need to lower expenses however they can. Many fleets are strengthening their bottom line by managing fuel costs and other operational expenses. With the help of a proper spending management solution, keeping track of fuel costs, receipts, and related payments for your fleet business is possible.
Motive’s spend management tool is integrated with the Motive Fleet Dashboard, so that you can easily and efficiently manage your day-to-day operations.
A business has hundreds of tasks going along simultaneously, especially when it’s getting massive orders. This is when this management tool aids in saving money, keeping things aligned, and offering operational efficiency.
Motive Card—is it merely a fuel card?
Being in the fleet business for quite some time, you must be well aware of fuel cards and their usage. They are one of the most widely used tools to manage fluctuating fuel prices and maintain multiple bills.
Fuel expenses and billings are tough to manage, especially when a business’s fleet volume is massive. However, with the help of a fuel card, regular maintenance of the amount of fuel being popped into each car and the regular management of accounts becomes possible.
Security is the most significant benefit that comes with a fuel card. Your drivers no longer need to carry cash around but can use the card to refill the fuel tank whenever needed. Alongside this, the card helps track fuel usage and the overall expense that it leads to for each route. It saves from the hassle of unauthorized spending on fuel, tracking the transactions, and analyzing the gas performance periodically.
However, the Motive (formerly Keep Truckin) card is much more than a fuel card. They help fleet business owners keep track of almost everything related to their daily activities. You can read more about that in this article. But, before that, fill out our questionnaire to learn more about your business!
Saves Business Operations From Redundant Activities
In today’s time, businesses are all about operation efficiency and automation. As a result, no one has the time to do things manually, which tends to slow down the processes. Alongside this, it can lead to stupid mistakes, which can prove disastrous even if they are minor.
Motive card manages the data in the fleet dashboard itself automatically, which saves the management teams from a lot of hassle. Hence, you don’t need an entire team to do this manually! As a matter of fact, this automation offered by the card sets it apart from others, making it a great choice for fleet businesses that are massive.
Automated Fuel Reports With Vehicle Location Information
Another way the Motive (formerly Keep Truckin) Card adds to the efficiency of the business is by reducing the burden on the administrative team. For example, it automatically generates reports related to fuel purchases and connects them with the locations. With this, it gets easier for the business teams to manage IFTA filings.
Saves The Business From Financial Fraud
In the past, fleet businesses, as well as fuel stations, have been significantly robbed by frauds by con artists. Or, an employee of either of these businesses could engage in nefarious activities, leading to huge losses. However, with the Motive Card, enterprises can screenfor such frauds and cons.
For each vehicle, the used fuel is tracked efficiently by the fuel hub. The details of the person purchasing it and the card with which it has been purchased help document and verify the activities.
Real-time spending information is undoubtedly a game changer for fleet business owners. Now, they get the entire data regarding who got the fuel purchased in their name, at what time, and for how much. Alongside this, it makes it easier for the management to pinpoint the top spenders and analyze which routes cost them the most money!
Gets Massive Discounts To Business Owners
In the fleet business, the fuel cost definitely plays a massive role in keeping the company afloat or drowning it in the sea of losses! If a company can manage the fuel cost efficiently, it surely can sail through the hurdles and become profitable. Fuel cost is an operational cost that requires orderly management.
Motive Card provide business owners with an opportunity through which they can reduce their overall fuel expenses to some extent. By using this Card, they get discounts. What’s even better? The drivers can use them anywhere Mastercard is accepted and still be eligible for these discounts.
For instance, if the driver pops up a gallon of diesel in the vehicle from a designated fuel supplier using this card, he is eligible for a discount of around 10 cents. In all other places, he will get a discount of five cents on fuel refilling.
Now thats a great offer! Fuel prices have sky-rocketed over the last few years and even a small discount makes a huge difference for fleet owners. With these amazing discounts, businesses are able to save huge chunks of money!
The cost reduction through the Motive (formerly Keep Truckin) Card is not lfimited to fuel only. Rather, there are lots of ways through which a driver can opt for cost cutting while using motive card. Maintenance partners provide some amazing discounts to the card users on some specific purchases.
Another great way through which a fleet business can do some cost-cutting by using this card comes from the fact that there is no transaction cost associated with it. You won’t have to pay any amount instead of activation charges if you apply for it. As a result, your drivers can make as many transactions as they want in a day, and no extra fee will be charged!
IFTA Reporting Gets Easier
The International Fuel Tax Agreement reporting is surely the most complicated task a fleet business management team has to perform. However, with Motive Card, this also becomes a lot easier!
As a fleet business owner, you must present your fuel tax report around four times a year! However, with the records of fuel taxes paid at each location, detailed reports of purchase durations, and mileage of each fleet, compiling the lengthy reports becomes very uncomplicated.
One thing that sets all other similar cards with the Motive Cards is that this one is essentially a charge cards. This is why, there is a requirement to clear its payments on a weekly basis. This ensures accountability and quick actions, reducing the chances of accumulation of the outstanding payments.
This is why, its a great card for the business owners who avoid way too much credit in their name. Timely payments of funds helps in funds management efficienctly.
Final Review Remarks
The Motive Card makes quick fuel purchases convenient and efficient. It is an all-encompassing card, which ensures it not only helps reduce the overall fuel and maintenance cost for the fleet company but also streamlines things for easier administration. This card ensures regularaity of payment, accounability for everyone and a greater ease in business management for the fleet business owners!