New Companies and New Drivers Are Gaining a Fleet EDGE
It’s not news that the trucking and transportation industry is critically short on drivers at a time when shipping demand is at an all-time high. It has become the topic of the day, the subject of many online conversations, and the biggest issue requiring attention from fleets across the nation.
Competition for drivers is leading trucking companies to try to gain any edge they can to attract and keep drivers. While that edge may include considerable pay increases and robust benefits packages, it also includes tools of the trade. Those tools can be everything from complex telematics to mobile apps and fuel cards. There is even a fuel card that reflects this edge in its name — the Fleet One EDGE Card. But before we talk about the tools, let’s first look at what is happening in the transportation industry so we can better address which tools are right for a very diverse field of players.
New Drivers and New Companies
The trucking industry provides services on the ground and for over-the-road shipping from door to door across a vast network of roadways. It is the OTR travel that enables the industry – in a way that no other transportation resource can match. So it is easy to see how valuable OTR shipping is and how some consider the industry the backbone of our economy. The American Trucking Association (ATA) suggests that the volume of goods hauled by the trucking industry is expected to grow at a rate of about 3% per year over the next several years (beginning in 2017), increasing by 3.4% this year and steady until 2023. Growth in the economy is also pushing the numbers higher. A report filed in 2018 finds that trucking industry revenues have topped $700 billion.
“Information, when presented properly and accurately, tells a story,” says ATA president and CEO Chris Spear. “The information in these pages highlights exactly what I tell elected officials, regulators, and key decision-makers every day: Trucking is literally the driving force behind our great economy. Safe, reliable, and efficient motor carriers enable businesses throughout the supply chain to maintain lean inventories, thereby saving the economy billions of dollars each year.”
Consequently, it is clear that the fleet capabilities we currently have are not going to meet the need. The good news is that new companies are joining the industry now just as rapidly as new drivers are. That means competition is stronger and a fleet edge is essential in keeping up. As with any business today, success is not based on a single tool or even a few. A company is smart to develop a holistic strategy that includes a variety of systems, software, and tools to help pay the bills as well as to identify ways to minimize expenses and maximize productivity.
Because fuel is the second highest expense in operations behind salaries, fleets have made it a priority to focus on controlling those costs. Fleet startups are particularly cautious in a world where every penny counts, which is why many are turning to payment leader EFS for help in managing payments and delivering fuel cards that provide an edge over the competition. Regardless of the size of the fleet, EFS can issue a flexible fleet fuel card solution designed with your specific fleet in mind.
Which card provides an EDGE?
As a new owner/operator or fleet manager in the over-the-road trucking industry, you have immediate goals to grow the fleet. You can accomplish this by harnessing the power of a customized fuel card. Because no two fleets are alike, especially in the current climate, having the right card to meet business strategies is essential. The industry has access to multiple fuel card options but the one that stands out most to new companies is the WEX Fleet One EDGE Card.
The EDGE Card was specifically designed for fleets of 1-25 trucks and is a benefit to the driver as well as the fleet manager. The EDGE card provides credit to fund operations and financing solutions to help your startup grow. A single EDGE card can help to control costs, monitor and manage driver behavior, and mitigate fraudulent purchasing.
- Largest nationwide fuel discount network at more 3,600 sites – with an average savings of 12 cents per gallon
- No fuel transaction fees in network
- Universal acceptance at more than 8,000 truck stops nationwide
- Nationwide discounts on major tire brands – with an average savings of $40 per tire
- Thousands in additional savings on wireless, equipment, maintenance, parts, breakdown, hotels, and more
- Credit to fund operations and financing solutions to help with growth
Clearly, any industry that is expanding while technology is advancing has an abundance of tools claiming to provide the much sought-after edge. However, only one fuel card has the name and the capabilities to back up that claim — Fleet One EDGE.