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How A Fleet Card Helps You Set Purchasing Limits

It is amazing what a fleet card can do for a business. It’s amazing what proper fleet management can do for the cost-effectiveness and the overall productivity of a company. And, in addition, a fleet card gives a business a lot of control over how much money is being spent on fuel, maintenance, and repair costs. The right fleet card can help a business optimize their profits and make sure that all expenses are accounted for, thus allowing the organization to operate at maximum efficiency and profitability. Furthermore, with a fleet card, it is almost impossible for anyone to use the card for things other than fuel, maintenance or repairs, therefore limiting the chances of any fraudulent activity occurring.

Spending limits

A fleet manager can impose spending limits on the fleet card to help keep the business within a budget. There are also limits that restrict what time of day or what day of the week the card can be used. For example: The fleet manager may choose to only make the card usable during regular business hours. This means that no one can take the fleet card after work and put fuel in their own personal vehicle. And, it also ensures that employees aren’t filling their vehicles during the most expensive part of the day. Often fuel is more expensive right before the start of a weekend, so if the fleet card limits pr-weekend fill-ups, it’s possible for your organization to save a lot of money. The rising price of gas is another reason why it is important to place purchasing limits on a card, as a fleet card can help limit the effects of this rising commodity. These limits are for both security reasons and to make sure that the cost of fuel isn’t becoming too prohibitive. It is amazing how many times unnecessary fill-ups can occur, and sometimes these unnecessary expenditures become the difference between making a profit or not.
Other limits that the fleet manager can impose are:

• Limits on the number of transactions for a day
• The amount that can be spent in a day
• Gallons of fuel that can be bought in a day
• Unauthorized purchases

It is entirely up to the fleet manager how he or she wants to impose the spending limits, and is usually decided upon by what makes most sense to each individual company.

Purchasing limits provide security

Purchasing limits also provide a certain degree of security. First of all, no one can use the fleet cards for personal vehicles. In addition, the fleet card helps track fuel economy with each individual’s fleet vehicle, so it would be easy to notice any discrepancy in the amount of fuel being purchased. Lastly, since it’s possible to set the dates and times when each fleet card is used, it’s possible for companies to guard against the fluctuations in gas prices, and thus prevent drivers from filling up at the most expensive times of the day. All of the above items can really serve to hurt the bottom line, but a fleet card addresses these issues and helps organizations run smoothly and productively.

About the Author

Having the ability to set purchasing limits with a fleet card can lead to a more productive and efficient business, and can save an organization both time and money.

Author Profile: Elizabeth_Murphy

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