6 criteria in selecting a corporate fuel card that saves the most fuel cost
Fuel fraud - The serious issue facing all fleet managers
Fuel cost can cover 35-40% of fleet operational expenses, being among the largest costs of transport companies. However, fuel cost control is a thorny issue of Vietnamese transport companies or companies managing a vehicle fleet for different purposes. Fuel fraud and theft by drivers is a constant concern of fleet managers without a complete solution.
Document management is another issue that drains company resources. It takes a lot of time and effort monthly to collect, reconcile receipts and statements, not to mention costly human errors.
Fortunately, the recent trend of making fuel payments by fuel cards has helped many companies ease those pains. In Vietnam, the fuel card market is on the rise with an increasing number of offerings from different issuers, ranging from banks, fuel companies to other financial institutions.
So what are the things to look out for when selecting a fuel card for your fleet? Which features of a fuel card can help fight fuel fraud and minimize the administration process most effectively?
6 criteria to choose the right corporate fuel card
1. It should be able to set fuel limits for each vehicle and each driver
Fuel frauds can take many forms, including siphoning, filling personal vehicles, using company vehicles for personal errands, pumping fuel into a separate container for personal use, to name just a few. Fuel cards that can be set with fuel limits are a proven solution to many common types of fuel fraud. Look for fuel cards that allow setting limits for fuel types, fuel stations, and most importantly, customized volume per transaction based on the fuel tank capacity of each vehicle.
2. It should provide automated reports of deceitful transactions
Suspicious transactions must be spotted right away for timely actions. Some digital fuel cards issued by fuel companies can send instant messages once a transaction is completed but cannot detect and notify you of abnormal transactions.
3. Detailed reports of fuel consumption
Excessive fuel spending is caused by not only fraudulent acts but also driver skills. Bad driving habits such as keeping long warm-ups, long idling, abrupt accelerating and stops, and driving on under-inflated tires can increase fuel consumption by as much as 20%. Besides, route planning can also make a clear difference to fuel efficiency. A good fuel card should be able to monitor the fuel consumption of each vehicle, each driver, make comparisons across the fleet, and highlight who are underperforming.
4. Must-have feature: E-receipt generating
Collecting invoices and statements, reconciling documents is time consuming and stressful. A good fuel card should be able to generate e-receipts and automatically send them to your accountants so they don’t have to follow up drivers regarding lost receipts and manually log the data into the system. That way, the administration process can be faster and human errors can be eliminated.
5. It can pay tolls and more
Whether your fleet is ferrying passengers from city to city, shipping goods from warehouses to retail outlets, or transporting staff to and from company, you know it takes more than just fuel to keep your vehicles on the road. It would be convenient if the fuel card can also pay for tolls, parking fees, maintenance and other related costs.
6. Large network coverage
One major drawback with fuel cards is limited accepting fuel stations. Some fuel cards issued by banks can be used within certain localities, while fuel cards issued by fuel companies are restricted to fuel stations within their network. So when picking a fuel card for your fleet, consider if fuel stations on the transportation routes accept it.
Which is the best corporate fuel card in Vietnam?
Dibee smart fuel card is the only holistic and complete solution to vehicle fleets' fuel cost and operational issues.
A pioneer in the digitalization of corporate management processes, Dibee leverages a friendly, visual web-based platform that updates, manages, analyzes and exports fleet operation data fast and accurately, thereby minimizing costs and administration process.
Each Dibee card is encrypted with PIN and chip technology that effectively deters unauthorized transactions, providing the most secure payment solution in Vietnam.
Dibee is the only fuel card that is not restricted within any fuel brand. Boasting nationwide coverage and a network of fuel stations spread along main transport routes, your fleet will never fail to have timely fuel refills.
Choosing Dibee, you are choosing the top-notch quality product and service of Connexion, the world-leading supplier of fuel cards and prepaid corporate services.