According to the experts at Fleet Financials, lowering indirect costs is integral to controlling what you spend on fleet operations. Most managers know they should spend wisely for administrative purchases and support systems. You can simplify fleet management and save time and money with a prepaid gas card program.
You get great flexibility with a gas card tied to your bank account. To begin with, you can control how much is available on each card. The funds are held in your FDIC-insured bank account. And, you can set daily, weekly or monthly limits for each card, allowing you to better track your fuel expenses as well as which employees are using the most fuel on a regular basis.
In addition, you can limit the card so your employees can only use them at the gas pump, not inside the store for snacks or other purchases. You can also change controls in real time so that they can spend money for vehicle expenses such as minor repairs while they are on the road. If your employees try to spend money on other items, the purchases will be declined. Other prepaid gas cards may not limit spending at the purchase level, allowing employees to commit theft or fraud.
Better financial organization
Using a refillable gas card also prevents businesses from spending valuable time managing expense reports. Expense reports drain company resources, according to the Global Business Travel Association,
Processing one report costs the average business $58. Almost 20 percent of those reports have errors. Fixing those mistakes takes up an additional 18 minutes and $52. Many organizations also have to deal with missing or lost expense reports.
Organizations can build better financial flow by optimizing their financial practices. Your staff members aren’t to blame.
The Bento Prepaid Fuel Card Alternative
The Bento for Business Visa® debit cards can be used for a variety of common company purchases. Unlike prepaid gas cards, the business owner has a suite of controls to monitor and record their use. The card administrator designates categories — specific stores, products, or supplies — for which the cards provided to the employees may be used. Workers who travel a lot can be restricted from purchasing anything other than fuel. Other workers may instead be provided with cards that can only be used to buy office supplies.
You can easily reload, terminate, or re-activate the cards from anywhere, anytime, with the click of a button in the Bento for Business digital interface. Small businesses can get cards for up to 10 employees for as little as $29 per month, making them a truly affordable service for your company. Unlike prepaid gas cards, the real-time interactive dashboard will also allow you to see how the cards are being used at any time so that you can complete live tracking of your business expenditures. Our industry-leading customer support will be there every step of the way.
Getting started can take as little as five minutes, and Bento for Business offers a 60-day, risk-free trial. Get started on your free trial by completing our lead form or by calling our friendly support staff at 866.220.8455!