Contractors often have to manage tight budgets to ensure every dollar counts. This is especially true for fuel expenses. For many contracting businesses, fuel costs represent one of the highest operating expenses, making effective fuel management crucial to business success. Because of the many benefits fuel cards provide, many contractors have turned to fuel cards to maximize every dollar.
Beyond being a superior form of payment to credit cards or cash, fuel cards help contractors save on fuel, track expenses, exercise more control over how funds are used, provide superb security and accounting, and give contractors the power to manage everything on the go.
When you combine all of these significant advantages, you have a tool that streamlines your business and improves operational efficiency.
Understanding Fuel Cards for Contractors
Fuel cards are specialized payment tools designed to streamline fuel purchases for fleets. Unlike a traditional credit card, a fleet fuel card offers a range of features that cater specifically to businesses with multiple vehicles, including contractors.
When balancing multiple projects and tight schedules, fuel cards reduce administrative burdens and provide a clearer picture of operational expenses. Valero Fleet Fuel Cards, in particular, have been tailored to address the unique needs of fleet operators, offering tools that enable greater control over vehicle and employee management.
Key Benefits of Valero Fleet Fuel Cards
Fuel cards, like Valero Fleet Fuel Cards, offer contractors a powerful and effective way to consolidate fleet-related expenses, including gas, diesel and parts as well as services. However, a better way to pay for business needs is just the beginning of what these fleet management tools can offer. Beyond being a superior form of payment to credit cards or cash, fuel cards help contractors save on fuel, track expenses, exercise more control over how funds are used, provide superb security and accounting and give contractors the power to manage everything on the go.
Significant Cost Savings
Fuel expenses can destroy profit margins, particularly in industries with tight margins. Beyond consolidating expenses, the most well-known features of fleet cards are the fuel rebates and discounts they offer. Valero Fleet Fuel Cards provide competitive fuel rebates and special discounts on fleet-related expenditures.
- Fuel rebate: Save up to 8¢ per gallon at over 5,200 Valero locations.
- Exclusive discounts: Access to special pricing on fleet-related products and services, such as auto parts, tires, and even hotel accommodations.
These cost-saving benefits can substantially impact your operating budget over time. For contractors, where fuel costs constitute a large portion of expenses, such discounts can translate into significant annual savings, ultimately contributing to improved profitability and competitiveness.
Enhanced Expense Tracking
One of the primary advantages of using Valero Fleet Fuel Cards is that they track fuel expenses as they occur. With this real-time data, contractors can maintain a close watch on fuel purchases, ensuring that spending aligns with budgeted costs. Detailed purchase information includes the ability to:
- Track spending by employee, location, time of day and more.
- Capture specific data such as driver details, exact purchase location, fuel grade and even sales tax for every transaction.
This level of detail allows contractors to audit fuel usage efficiently and spot discrepancies quickly.
Customizable Spending Limits
Beyond direct savings, fuel cards allow contractors to set spending limits tailored to company needs. These purchase controls give managers and business owners the power to set limits with very specific parameters such as:
- Limits on purchases by dollar amount, fuel volume, location and product type.
- Approved usage by time of day or day of the week.
For contractors managing multiple drivers or vehicles, this control safeguards finances and fosters accountability among team members. Establishing limits can prevent excessive or inappropriate fuel purchases, ensuring every expense is necessary and within budget.
With this real-time data, contractors can maintain a close watch on fuel purchases, ensuring that spending aligns with budgeted costs.
Improved Security
Security is a top concern for any business relying on electronic transactions for things like fuel, and fleet cards offer several measures that enhance safety and reduce the risk of fraud.
- Required driver ID numbers or PINs at the pump to curb misuse.
- Ability to instantly deactivate lost or stolen cards to minimize the risk of unauthorized transactions.
These enhanced security features ensure peace of mind for contractors whose fleets are constantly on the move and operate in multiple environments.
Simplified Accounting and Reporting
Accurate and efficient accounting is critical for any business, and fuel card programs are designed to integrate seamlessly with your accounting processes. With real-time transaction data and the ability to communicate with most accounting and bookkeeping software, fleet cards streamline accounting by:
- Automating fuel expense tracking, eliminating the hassle of manual data entry.
- Providing reports that summarize purchase activity, including tax exemptions and overall spending.
- Eliminating the need to collect receipts and submit fuel expense reports.
With these features, contractors can significantly reduce the administrative burden associated with fuel expense reporting. This saves time and minimizes errors, making tax preparation and financial audits easier and more accurate.
Mobile Account Management
Modern business operations demand flexibility and convenience, and mobile account management is a feature that many contractors appreciate. Most fleet cards integrate with mobile apps that offer on-the-go account control:
- Access account information, make payments and manage cards directly from your mobile device.
- Utilize mobile apps to locate the best fuel prices and the nearest Valero stations.
Mobile management helps you stay in control of fuel expenses no matter where you are. This is especially useful for contractors who frequently visit different job sites and need real-time data on fuel expenditures.
Contractors Benefit with Fuel Cards
For contractors, fuel expenses are more than just a line item in the budget — they represent a significant operational cost that can impact the profitability and efficiency of a business. Leveraging fuel cards, like those offered by Valero, helps contractors take control of fuel spending.
With features designed to meet the unique challenges of fuel management, Valero Fleet Fuel Cards provide a smart, secure and cost-effective solution that can help you drive your business forward with confidence.
Embracing the benefits of fuel cards delivers efficiency, accountability and profitability — one fuel transaction at a time.