If your small business owns one or more vehicles, you’ve likely wondered about the best way to pay for fuel. Cash is hard to track, and isn’t very safe or secure. A corporate credit card seems like a go-to solution, but isn’t designed for the specific needs of business vehicles. When it comes to paying at the pump, you need a fleet card designed for small businesses. Fleet cards are smart, secure, and easy for employees to use. Here are five questions to help you figure out if your business needs a fleet card.
1. Are you looking to rein in fuel expenses?
For many small businesses, fuel is one of their biggest operating expenses. With a Speedway fleet card, you save up to 5¢ per gallon at 3,500+ Speedway locations and 4,000+ 7-Eleven stores.† Plus, your card comes with powerful tools to help you manage expenses and cut costs.
2. Do you want to control employee spending?
Unlike cash or credit cards, a fleet card allows you to track who spends what, where, and when. A unique driver PIN is entered for every transaction. This helps prevent unauthorized use by both employees and non-employees. You can also prevent unauthorized spending by setting spending limits, which limit employee spending by purchase amount, number of purchases, timing of purchases and more.
3. Do you need help fighting fraudulent activity?
While most employees are honest, lapses in judgment do happen. Unfortunately, fuel slippage and theft are common. Slippage is when an employee uses company dollars to purchase non-fuel items such as food or drinks. A few cups of coffee here or there may not seem like big deal. But a few cups of coffee every week can make a large dent in your bottom line. A Speedway fleet card comes with reporting and alerts that help you identify misuse as it occurs.
4. Do you want more time to focus on your business?
Small business owners have a host of responsibilities on their plate every day. Let your fleet card do the busywork of reporting and accounting. Then you can spend that time on your business. WEX reports help you track fuel expenses, flag misuse and more.
5. Are you interested in GPS vehicle tracking?
All Speedway fleet card users have the option to sign up for premium GPS vehicle tracking. It uses GPS — plus the important fueling data from your fleet card — to provide valuable insights that can help you increase efficiency and save more money. Telematics can:
- Confirm how long vehicles are at a job site.
- Show where your vehicles are in real time.
- Identify speeding, excessive idling or after-hours use as it happens.
- Improve driver safety and performance.
- Lower your operational and fueling costs.
Did you answer “yes” to any of the above questions? If so, a Speedway fleet card is the right choice for your small business fleet. Whether you need savings, security, or data-driven insights, a Speedway fleet card is the fastest way to start making fuel management easier.