What Are Company Fuel Cards?
Company fuel cards, sometimes known as business fuel cards, are a method of payment for businesses to manage their fleet’s fuel payments and, on occasion, vehicle maintenance. In the past these fuel cards were basic systems that allowed fleets to use these cards in the same way old-fashioned credit card payments would be processed, but with the advent of electronic payments, company fuel cards can be processed in real time and with a far greater scope, from fuel payment to general repairs and other related expenditure.
Different Kinds Of Business Fuel Cards
There are many types of fuel cards for businesses available. The type of company fuel card a business might use will depend on the size and type of business using it.
Company Fuel Cards For Small Businesses
Fuel Cards For Businesses With Budgetary Restrictions
There are major differences between the needs of a small business and large businesses in just about every area of their operation and business fuel cards are no different. Up front costs are much more of a concern to a small enterprise and fuel cards for companies with less scope than others can lead to some crippling overheads. It is therefore imperative that a small business can access the best option for their budgetary needs. These days fuel cards can be had for cheap or even free. It is important to compare the services and account management options offered to ensure your chosen fuel card not only comes at the right price but also provides all services you require.
Company Fuel Card Billing
Expenditure is a concern for large and small businesses alike, but for smaller operations, timing is a major concern. Small businesses can access company fuel cards services that allow for weekly, fortnightly or monthly payments. This can be very useful when cash flow is an issue, a common state of affairs for nearly all small businesses.
Some fuel cards for businesses do not require a deposit or minimum charge. This is of great help to smaller ventures as the pressure is taken off, not only the initial outlay, but also the card’s daily usage.
Company Fuel Cards And Small Business Security
The security measures a small business might employ are very different to those of large operation. With a more restricted scope of use, a small business can set a simple 3-digit pin code that allows for only fuel transactions. This more simplistic procedure makes for a more secure enterprise as less can go wrong in general.
Flexibility In Small Business Fuel Cards
Any company fuel card should provide flexibility in its set up, but small and large businesses often differ in how that is implemented. Tailoring the system to suit smaller purchases and more restrictive usage is at the heart of many small business fuel card schemes. Tightening the belt and eliminating waste is paramount to the survival of smaller ventures and smaller company fuel cards are designed with that in mind.
Large Business Fuel Cards
Large Business Fuel Card Services
The first thing a larger company, that is looking into company fuel cards, will notice is there is a huge amount of options on offer. This is to the larger company’s great advantage as this is a very competitive market. While it may seem on the face of it that there is little difference between them, understanding your business’s needs is vital in choosing the right one. See our web form for more advice.
Large Business Fuel Card Flexibility
As was previously mentioned in regard to smaller businesses, flexibility should be one of the main benefits a company fuel card offers. For more complex operations this can be of huge significance, as even the smallest change to a system can make for huge savings in the long term. Company fuel cards offer a detailed overview of the whole operation so making sure the system has been fine-tuned to maximum efficiency can be of great advantage to the larger operation.
As you may well have ascertained from the information above, company fuel cards is a competitive and complex market. For those that are not well grounded in the inner workings of the industry, it can be more than a little overwhelming trying to compare the correct services for your specific needs.
By filling in our simple form, it should take no longer than a minute, you can compare the services and products that are right for your size, scale and budget.