Automotive Fleet

SEP 2013

Magazine for the car and truck fleet and leasing industry

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Analyzing FLEET FUEL CARDS First, determine if your feet could beneft by utilizing a feet fuel card provider. Then, analyze your company's feet to determine its needs. Finally, start asking the right questions. BY LAUREN FLETCHER Analyzing the Fleet Before Fuel Card Options One of the most frequently cited steps that feet managers must take in analyzing whether or not a fuel card is best for a specifc feet is analyzing the feet itself. So, before selecting a fuel card, savvy feet managers should be sure they know exactly what needs/requirements the feet will have and what benefts they expect. Knowing the answers to the following questions will ensure that the best option is selected: ● What distance will drivers travel? ● Will all drivers require a fuel card? ● Is the feet centralized or de-centralized? ● Will the cost savings realized in the price diference between retail vs. onsite ofset the risk and cost of owning and maintaining an onsite operation? ● What level of security does the feet need or anticipate? ● Which asset is more important to track — driver/personnel or the vehicle? ● Which provider ofers the easiest method to exercise the spending limits the company needs? ● Does the feet manager plan to limit fuel purchases? Cash advances? Miscellaneous purchases such as maintenance or in-store items? ● What performance metrics does the feet want to achieve by using a retail feet fueling card? Compare each card 30 AUTOMOTIVE FLEET I SEPTEMBER 2013 Determining the Best Provider While feets may share similarities, i.e., pharmaceutical feets will mostly rely on sedans, construction feets on pickup trucks, etc., even within an industry segment, feets were not created equally. Terefore, what may work perfect for one feet, may not be the best option for another. A key step to selecting a feet card provider is to formally ask for a document that details the provider's site acceptance, card controls, online functionality, card assignment fexibility, and customer service commitment. You can then compare this information to the needs of your specifc feet. To start reviewing fuel card providers, check the basic features included that don't require an additional cost. For example, some fuel card providers only ofer Level I or Level II data, which only GASOLINE PRICES JULY 2011 TO JULY 2013 $4.0 $3.83 $3.83 $3.71 $3.70 AT A GLANCE With fuel prices continuing the rollercoaster ride of price fuctuations, fuel cards can provide additional controls to help monitor and reduce fuel expenses. To determine if a fuel card is best for your feet: • Defne the control needed over purchases. • Review the feet's current fueling needs. • Determine acceptance levels and what programs are most important. to this set of metrics. ● Where will the drivers travel in relation to where the cards are accepted? $3.70 $3.45 $3.43 $3.72 $3.68 $3.57 $3.61 $3.5 $3.89 $3.43 $3.58 $3.60 $3.56 $3.55 $3.38 $3.38 $3.31 $3.48 Q JULY 2011 - JULY 2012 Q JULY 2012 - JULY 2013 $3.31 JULY AUG. SEPT OCT. NOV. DEC. $3.43 $3.34 $3.25 $3.0 $3.58 JAN. FEB. MAR. APR. MAY JUNE The use of a feet fuel card can help mitigate rising and roller coaster fuel costs. JULY SOURCE: WEX M aking the decision to utilize a fuel card goes beyond simply selecting a provider. A feet manager must determine that a feet card is needed. Once that decision has been made, you need to analyze the fuel card providers and select the program or provider that best meets the feet's needs. Not all feets may fnd a fuel card necessary; however, they can enable a feet manager to gain greater control over a driver's purchases and feet fuel expenses. First, a feet manager must consider the control they need to have over their feet. Next, review the feet's current vehicle fueling needs. Finally, determine if your feet requires wide acceptance and what programs will be most important to your feet.

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