Every time your drivers turn a key, it impacts your bottom line. Most companies only think of fuel savings as a sum of volume rebates. Nonetheless, there are significant additional savings resources that extend well beyond paying attention to how your fleet is spending at the pump.

6 Proven Ways to Keep Fleet Spending Under Control

02.23.16

Truck at a Gas StationEvery time your drivers turn a key, it impacts your bottom line. Most companies only think of fuel savings as a sum of volume rebates. Nonetheless, there are significant additional savings resources that extend well beyond paying attention to how your fleet is spending at the pump.

Maximize total fleet savings with a combined approach

We have put together six proven cost savings measures to help you think beyond fuel prices. Each one is informed by a set of reliable technology tools and analytics. When used diligently, they have been shown to generate measurable improvements to the bottom line.

1) Reduce fraud risks.

Fleet cards offer a host of powerful fraud prevention mechanisms that can help you mitigate costly card misuse, including lost and stolen cards, counterfeit and fraudulent use. You can actively control improper use via features like unique PIN numbers, card shut off settings, and alerts. And the usage data collected can be monitored actively for any indication of misuse.

2) Set pump limits.

Remain informed about average fuel costs in any given area. With that data, you can impose pump limits that help to ensure costs remain in check and in line with reasonable budgeting and savings opportunities.

3) Set daily, monthly, and location-based limits.

Set individual card use controls based on factors like time of day, location and category limits. Doing so enables you to allow your drivers to operate as needed within perimeters that prevent the chance of inappropriate and costly card use.

4) Manage driver behavior.

Use fleet card usage data to monitor details like driver routes and fueling locations, which offer valuable insights into opportunities for savings. Using a resource like FleetAdvance enables you to monitor, score, and compare drivers against their own behavior, other drivers, and even how other fleets are performing. It’s a great way to determine feasible goals and build shared accountability with drivers for spending management.

5) Find the best fuel prices.

Through the FleetAdvance app, drivers can locate the best fuel prices within a set area. By avoiding the need to go out of their way to source the lowest cost fuel, drivers are able to save money and time.

6) Plan the best route.

Pre-planning routes for efficiency not only takes into account fuel costs, but it also is a good way to limit unnecessary vehicle wear and tear. By analyzing job and driver data, and even factors like traffic patterns and road conditions, you can optimize the route for bottom line value.

By using alerts, limits, on-the-go cost management via mobile applications, and readily available analytics, your fleet can achieve immense fuel cost savings – at and beyond the pump. Remember, fuel cost is not the whole cost management story. Contact us for the analytics to help you find new sources of cost savings.