5 ways you can take your business into 2024 with a fuel card
Manage your fuel costs more effectively and streamline your business processes for the new year.
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Running a business with team members on the road? It might be time to think about investing in a fuel card.
A fuel card – sometimes called a "fleet card" – allows you to manage your fuel expenses with a central account.
But that's not all they can do. Opening a fuel card account can bring a number of benefits to your organisation, both now and into the new year. So today, let's take a look at some of the ways a fuel card can enhance your day-to-day operations.
💸 1. Reduced fuel expenses = lower overheads
One of the main reasons people opt for fuel cards is to get a discount on their fuel.
Discounts are generally worked out on a per-litre basis. For example, AmpolCard currently offers a discount of up to 4c per litre on premium fuels. When you spread this reduction in cost across an entire fleet, the savings can add up pretty quickly.
Eligible AmpolCard customers can also set up direct debit payments with a Mastercard credit card and enjoy 0%^^ card service fees. This means you might save on fuel transaction costs. For example, if you currently pay a 1.25% card fee on transactions and spend $40,000 per year on fuel, you could save up to $500 with AmpolCard's Mastercard credit card direct debit set up.
So by opting for the right fleet card, you can potentially reduce your day-to-day overheads. This means you've got more cash to use elsewhere in the business as you grow.
🎁 2. Earn bonuses for everyday spend
Running a business involves costs and expenses. So it's worth looking for ways to get rewarded for your everyday spend.
The points you collect can be redeemed to offset company costs. For example, 100,000 Everyday Rewards points equates to $500 at Woolworths, BWS or Big W.
They could also be used to cover travel costs for the company. 100,000 Everyday Rewards points converts to 50,000 Qantas points, which could easily be used to cover a return business class flight from Sydney to Melbourne^.
📋 3. Better admin efficiency
Setting up a fuel card allows you to centralise your fuel expenses.
You won't need to have staff manually lodge receipts. With a fuel card like AmpolCard in place, you receive a consolidated monthly invoice that can go straight to your accountant.
Additionally, you're able to generate a range of digital reports that can be used to gain insight into individual vehicles. These can also be integrated into MYOB or Xero, allowing you to keep a close eye on costs throughout the year.
Streamlining your admin process allows you to reclaim time as a business owner, and allows you to focus on growing the company more effectively.
🚗 4. Empower staff on the go
As your company expands, you'll need to delegate responsibility to others. This is essential so that you can focus on the bigger picture.
One simple way you can do this is by providing your drivers with fuel cards. This empowers them to take control over their own on-road spending for fuel and other essentials.
Additionally, they won't find themselves out-of-pocket and waiting for your accounting team to refund them for expenses, either. This can contribute to better employee satisfaction, and in turn, long-term staff retention.
With AmpolCard, you can add additional cards to your account for $2.95 per month for each vehicle in your fleet.
⛽ 5. Easy access to fuel and services
A fleet card can provide you with easier, and more straightforward access to fuel around the country.
In turn, this can bring a number of benefits. For example, being assured of fuel availability means that you can expand your routes without concerns about drastic increases to costs.
AmpolCard is a fuel card with a broad range of outlets. Currently, AmpolCard is accepted in more than 1,800 locations around the country.
Your fuel card may also offer other services. With AmpolCard, for an additional fee you're able to add on Australia-wide, 24/7 roadside assistance.
Having access to these types of services can be a great way to enhance your operations, protect your drivers and look after your fleet.