Are Fuel Cards Important For Your Business?
Regardless of the company size, fleet management takes up a significant portion of financial resources, especially when a given company relies heavily on transportation. Due to the fact that in small companies capital is always smaller compared to the large ones, business fuel card services help reduce the expenses even more and help allow daily operations to run a lot more efficiently. This is implemented by providing expense tracking options and customised support.
Not only large fleet management corporations can benefit from fuel card savings and extra services. If you operate a small company with a fleet or your employees use personal vehicles for commercial purposes, you should definitely consider cards offered by many fuel card companies.
Business fuel card services can also provide a few extra benefits. These services, that come almost automatically with the fleet card, serve as the great management tool for monitoring company operations a lot more effectively. Mainly fuel cards take away the hassle of having to carry cash to pay for fuel and always saving receipts to track expenses. Besides that, the fact of having a fuel card service will prevent your business from fuel card fraud activities causing troubles for your fleet management operations.
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- No minimum spend or fixed term contracts
- Discounted fuel prices
- All expenses in a consolidated invoice and no need to keep the receipts
- Track and control fuel consumption via eServices
- High security with chip and pin technology
- Driver does not need to carry cash
- A lot of suppliers to choose from with high quality service
- Assigned account manager
- Can be used in a range of fuel networks or binded to a single one
- Available for international haulage
- Designed to reduce the risk of fraudulent activities
However, the choice of the fuel card for small business should be based on the type of fleet the company owns. Depending on whether there are only vans, cars or maybe a mixed fleet the fuel card choice may impact the costs and amount that is saved. Most fuel card providers have several cards with different benefits to offer. Some companies look for a fuel card integration with their vehicle tracking system in order to manage their fleet fuel needs more efficiently. That depends on the company’s needs and type of vehicles that are used for daily operations.
So which fuel card is right for the small business owner? We have provided a quick overview of different brands and independent fuel card suppliers for best fuel cards for small business uk. Most of these cards provide a wide range of services, which are equally suitable for businesses with any scale of operational activities.
Fuel card suppliers that operate in the UK market offer several fuel card options with different conditions. Fuel cards can be used in networks where the supplier is affiliated with. In the case of branded providers, these offer wide networks with stations of different type across the UK.
Independent card fuel suppliers have flexible card options that are operational in several networks. The type of card and its conditions will determine in which networks these can be used.
As some of the providers already have fuel card options that are tailored specifically for small business processes, the rest of them are pretty general and do not differentiate between the size of the organisation. This is not necessarily a bad factor, but the company owner needs to make sure that the provider is able to offer some level of customisation and adaptation to company needs.
Thus, since we are evaluating the fleet card market in the context of the small UK business, we can also introduce a provider which offers a fleet card that is meant specifically for local or regional companies. European Diesel Card (EDC) is one of the fuel card companies that offer these fuel consumption solutions for small business owners.
On top of the regular benefits and services that business fuel cards provide to fleet management companies, there are some extra aspects that can be added to the list. Even though a lot of advantages are quite common among the providers, there are several extra services that can be pointed out.
Among the companies that offer additional services, the previously mentioned EDC Fuel Card for Small Business is good to mention. It includes discounts related to tolls and VAT recovery in the UK and Europe.
Just like most of other cards from major providers, EDC fuel card can remove the load of difficult administrational burdens and expense claim paperwork. Even though the amount of incoming claims may not be as high as large companies, it is still a lot more efficient because it takes less time and labor to handle these tasks.
The company provides access tunnel and road toll discounts within all of Europe. This naturally encourages the road use in the most cost effective way for fleets that operates internationally. The fuel card helps drivers to pay only for what is required with flexible and transparent service solutions. The cardholder can save up to 50% on all tolls and tunnels around Europe and get direct discounts and rebates back to their EDC card.
Heavy goods vehicles (gross weight 12 tonnes) are required to buy a special pass called Eurovignette in order to use toll highways and motorways in the countries within this system. These countries are: Sweden, Denmark, the Netherlands, Belgium, and Luxembourg. It is a rather convenient service as drivers do not need to worry whether they are fully covered as long as the purchase is processed in advance.
The EDC offers two types of comprehensive VAT recovery systems: standard and rapid.
Standard VAT recovery solution is processed by EDC team which includes advice on all potential saving matters and also legislations. This is certainly done in compliance with all the existing regulations in EU. Furthermore, with the standard VAT recovery claim option the company charges the commission fee only when the VAT claims are successful.
Rapid VAT recovery is also fully compliant with all of the EU regulations. The difference is that this option offers quicker claims. It is stated on the company website that normally payments are received four weeks after the invoice has been sent.
Setting the Upper Limit
As an extra service, Fuel Genie offers to set the maximum monthly amount that drivers can spend on refueling, oil, carwashes, and other fleet related purchases. This can help to implement more control over driver expenses and reduce the costs on the long-term perspective. Efficiency is extremely important for small businesses to survive and fight against big corporations.
UK Fuels were one of the first companies to provide the conjoined service of real-time data processing (kinesis) and information technology for long-distance transmission of digital information (telematics). Such advanced option could be used alone as one of the fleet management tools or coupled with the fuel card data for more advanced control of vehicle activities.
Maintenance Service Point
The Allstar brand has a range of services available to customers to enjoy. One of the extras which is highly useful is pre-negotiated savings in a wide network of nationwide approved garages. The company offers an average of up to 30% savings for options like bookings for repair and maintenance, MOT certificates, and similar services. This is beneficial for small companies as well, when expenses can be reduced and there is no need to worry about the options for vehicle maintenance.
Finding the best fuel card for small business is a wise decision as this will better suit your kind of business. At times, this might be a daunting task considering the various available options. There are many high quality service providers and products available in the UK fleet management industry. Market Inspector is here to assist you in choosing the best fuel card for your business.
Is your small business in need of effective fuel management tools? Please fill in the form at the top. We will provide up to 4 free and non-binding quotes from top high quality suppliers to guide you in picking the perfect fuel card to match the needs of your small business.