Fleet cards offer more than just a fueling program

Owning and operating a fleet of vehicles is complex. From managing maintenance and repairs, to fuel management, to ensuring you have the parts and tools you need to keep your vehicles on the road, there’s a lot of oversight required. While the use of fleet cards can help you manage fuel spend, the best fleet card programs go beyond just fuel. Partnering with a fleet card company, like WEX, you’ll have the ability to expand your oversight and management beyond fuel. You’ll have access to features to help calculate the total cost of ownership and understand where your expenses come from and how to maximize savings. WEX supports all areas of your business by bundling and offering additional products that help you keep your business moving.

Fleet management: Beyond fuel, what’s needed to keep operations running

As a fleet manager your responsibilities fall well beyond ensuring your vehicles are properly fueled for the day. You often need to oversee vehicle maintenance, tire purchases, lodging planning, parking, tolls, you name it, it’s on your plate. Some fleet cards offer services to help streamline these tasks. Beyond helping oversee fleet management, companies like WEX provide smaller businesses with savings and benefits that are typically reserved for larger companies. By partnering with WEX, you get a top notch fleet card program, access to savings programs that go beyond fuel, and services to keep your business running and provide a competitive advantage.

Fixed costs and operating expenses for your fleet

Fleet expenses are divided into two categories: fixed expenses and operating expenses. Fixed costs are established costs that stay the same no matter how you use your commercial vehicles. Operating costs on the other hand, can fluctuate and will vary based on a range of factors.

According to research by the American Transportation Research Institute, maintenance and repair costs for a fleet are between 8% to 10% of a fleet’s annual operating expenses. When you look at that figure, the importance of maximizing the lifespan of your fleet becomes evident. Performing regular maintenance is one way to keep these costs down, and with a fleet card program like WEX’s, you can have access to real-time reporting on which vehicles need maintenance when.

How can a fleet card program helps you maximize savings on more than just fuel costs

For times when maintenance service is needed, you need to stock up on vehicle parts, you need to book a hotel last-minute, or you want the best deal on your fleet’s wireless service, it is important to be prepared and maximize your savings. The WEX fleet card savings program has combined pre-negotiated savings and an easy-to-use e-commerce experience to provide convenience and efficiency. Planning beyond the fuel needs of your business is crucial to keep you operating efficiently. For example, auto parts can be a significant expense and when a vehicle is being serviced, the productivity of your operations can be impacted. Service delays become more impactful when your fleet driver does not have a designated vehicle service provider or expense system to rely on. This entire process can be streamlined and more cost-effective with a fleet card program that offers more than just fuel savings.

How fleet card programs give fleet managers more purchasing power

For a small business, purchasing power can be your greatest asset. With providers like WEX that offer a fleet management savings network along with a fuel card, you have the benefit of a larger buying network to secure better pricing. Your business will have an advantage over competitors with reduced expenses on driver and equipment costs, travel, and overall fleet spending.

Track your fleet services and spending in one place

When you partner with a fleet card provider, like WEX, that offers more than fuel, you’ll have access to a single platform that tracks much of your fleet services and spending in one place. You have access to how much you’re saving on not only fuel but many other purchases you make through the savings network. This simplifies the administrative tracking process and allows you to make data-informed decisions for future growth. Joining this savings network provides greater transparency into your fleet’s spending patterns and helps you find more ways to save money.

Use a bundled savings program within your fleet card account to accumulate savings

The WEX savings program provides:

• Fuel Rebates: Earn valuable fuel rebates at participating locations.
• Tire Discounts: Competitive online tire pricing with installation at over 2,200 Bridgestone Retail Operations locations in the U.S.
• Auto Parts: Exclusive savings with AutoZone®. Quickly search over 750,000 parts from 900+ brands and receive national account pricing.
• Hotel Discounts: Book rooms at over 58,000 hotels across the U.S., with negotiated rates at over 18,000 locations.
• Wireless Discounts: Get access to amazing rate plans with industry-leading mobile hotspot data, more business benefits, and unlimited data with T-Mobile for Business.

There are a variety of resources available for fleet owners when managing operating expenses. WEX’s partnership with Bridgestone and AutoZone® can increase savings for your fleet business, and for the times when a driver needs a hotel room, your business will have access to over 58,000 hotels through WEX’s savings network. In addition, your business will have access to discounted wireless rate plans with industry-leading mobile providers.

To learn more about WEX, a dynamic and nimble global organization, please visit our About WEX page.

All fleet cards are not the same, and different types of fuel cards suit the needs of different kinds and sizes of businesses. View WEX’s fleet card comparison chart to see which fleet fuel card is right for you.

Resources:
American Transportation Research Institute
Webinar Care
Fleetio
FleetOwner

Editorial note: This article was originally published on June 14, 2023, and has been updated for this publication.