How to Optimize Fleet Fuel Tracking in 2023
Tracking your fleet’s fuel spend is not as simple as just adding up your credit card statements. Whether you keep a paper trail or use fleet telematics- there is one issue that continuously stumps fleet managers: fuel fraud. Whether you know it or not, the costs of fuel fraud to your company are significant.
Note: Sometimes inconsistencies with fuel tracking are not due to fuel fraud, but driver misuse.
Fortunately, many fleet managers are saving money by identifying incidents, addressing the situation with drivers, and ultimately reducing fuel fraud.
Want to know how they do it?
In this blog, we’ll talk about fleet fuel tracking, and how it can help your business and boost your bottom line.
How Does a Fuel Monitoring System Reduce Fuel Costs?
You might think your staff isn’t taking liberties at the pump. But the truth is, fuel fraud is actually very common.
For example, in 2016, a UK Policeman was charged with fraud after stealing £3,000 worth of fuel over five years. And if the people we trust to uphold the law are taking advantage, it’s quite possibly happening at your company, too.
Fight Fuel Fraud with Fuel Card Tracking Software
So what can you do to reduce fuel fraud
Implement a fuel card tracking system. Here’s how it works:
A tracking system runs in the background, measuring the amount of fuel your drivers purchase. When it detects an anomaly (like if someone is buying more fuel than the vehicle’s tank can hold), it’ll flag that purchase as potential obstruction for the fleet manager to follow up on.
Other possible indicators for fuel fraud are:
- The frequency of fuelling: the frequency of fuelling could raise a red flag when it comes to fuel fraud. If you notice an employee filling up more frequently than their colleagues who travel similar distances, something could be up.
- The locations where the fuelling is done: if the locations are clearly out of the way or there is a strange pattern of fueling locations, this could raise questions. Monitor your drivers' refuelling routes and consider investigating if suspicions arise.
- The type of fuel purchased: a major red flag is if the type of fuel purchased does not match the vehicle your employee is driving. This issue should be immediately flagged and brought to the attention of appropriate authorities within your organization.
At Foss National Leasing, our fleet card prevents unauthorized purchases (which are responsible for as much as 15% of a company’s fuel costs) and simplifies maintenance and repairs. We consolidate all your fuel and maintenance purchases in one monthly invoice. It’s that easy!
Ultimately, your fleet fuel card will help you identify potential fraud, so you can put protocols into place to deal with and eliminate them.
The best part?
The money you save directly improves your bottom line, and makes your business more profitable.
Greatly Reduce Your Paperwork With a Fuel Card System
We know how it is.
The sheer volume of paperwork you have to deal with while running your fleet is daunting. Especially since all vehicle-related purchases have to be tracked, recorded, and reconciled.
So here’s some good news:
The same fleet card that can help you reduce fuel fraud can also help you record and track all of your costs. It aggregates, consolidates, analyzes, and reconciles. In addition, it gives you every purchase from every fuel vendor, along with your total fuel burn in a single invoice.
Even better, the invoice provides complete reporting flexibility to find more detail on individual purchases.
The card is really a comprehensive fleet management tool that will save you money and help you worry less, so you can get back to running your business.
A fleet fuel card system is an amazing time and money saver. If you’re ready to improve your business, save money and simplify your administrative overhead, think about putting one into place.
It can help you reduce fuel fraud, your paperwork, and your headaches—helping make your fleet operations smoother and more profitable.
In need of a fleet fuel card solution? Contact us to learn more.
Get to Know the Author
Dave is a highly motivated, innovative and results-oriented sales executive. He is passionate about coaching and sustaining high-performance teams that enhance the customer experience and achieve business objectives.
He knows the fleet business from the ground up with over two decades of fleet management experience. He has held several senior management roles overseeing new business development, customer satisfaction, account management and operations.
Dave maintains a keen aptitude for continually assessing and adapting to the needs of clients.Meet our team