Every small business is different. Each business owner faces his or her own set of challenges. When businesses have vehicles, one thing they have in common is the need to fuel up. It may seem obvious to pay at the pump using cash or a credit or debit card. However, fleet fuel cards are smarter than credit cards, and safer than cash. Fleet cards come with a host of benefits credit and debit cards can’t offer, from fuel savings to analytics. Keep reading to learn how making the switch to a Valero fleet card is the better solution for your small business.
Fleet cards improve on credit cards by allowing you to keep an eye on expenses. Standard and customizable reports put critical information in front of you. You can use the reports to budget for expenses and identify misuse. Having access to this data also allows your business to see spending patterns. Types of fleet card reports include:
- Purchase activity reports let you view all transactions.
- Financial summary and site summary reports help you manage vehicle-related expenses and plan your budget.
- Tax exemption reports includes any exemptions that can be applied to your account. (Qualified tax-exempt businesses only.)
- Need different information? You should be able to set up your own custom reports.
A Universal fleet card is accepted at every major U.S. fuel station, as well as thousands of service locations nationwide. And with a Valero fleet card, you can save up to 8¢ per gallon at Valero locations. When it comes to saving money, small changes can lead to big savings.
While you should always assume the best of your drivers, it is wise to prepare for the worst. These are four types of misuse a fleet manager may face:
- Slippage, or when a driver uses a fuel card to purchase snacks, drinks, or souvenirs.
- Misuse, or when an employee uses company dollars to make a fuel purchase for a non-company asset.
- Overfilling, or when a driver fills a side container after filling their company vehicle.
- Siphoning, or when an employee uses a hose or device to transfer fuel to a non-company vehicle or container.
A fleet card gives you the tools to identify fraud, so you can address it. Use fleet card reports to monitor and catch abnormal spending. Fleet cards also help prevent fraud by holding employees accountable. With a Valero fleet card, you’ll know where every dollar goes and who made every purchase. Driver ID numbers are entered for every transaction to discourage unauthorized use. Plus, you can set purchase controls based on product type, dollar amount, time of day, and more.
An estimated 89 percent of small business owners use their smart phones on the job. Valero fleet card customers can access their accounts via mobile app, so you can take care of business wherever you are.
Fleet Cards for Small Businesses
A Valero fleet card saves on fuel, but it does so much more. Reports and analytics give valuable business insights. Purchase controls help prevent fraud. Automatic accounting saves time. It’s time to improve your small business with a fleet card.