All around the country, if you ask fleet managers or company owners what is the single biggest company expense – they will tell you fuel. On average, transportation companies spend 25% or more on fuel purchases. When I say fuel, it can mean both gas and diesel.
A 1% reduction in fuel costs can result in thousands of dollars in profit annually. A recent study done by Continental showed that fuel management systems are ranked 1st on the fleet manager wish-list.
What does fuel management actually means?
Fuel management is set of activities and procedures companies implement in order to optimize fuel usage and reduce costs related to fuel purchasing. Usually it is a combination of technology & procedures required to generate maximum optimization.
Most companies focus only on few things when thinking about Fuel Management. Usually the focus is on company fuel cards because the savings are easy to calculate and it’s visible immediately. But fuel purchase routing works great with existing fuel cards and provides an extra layer of savings.
Fuel management in today’s fleet
Part of the reason why fleet managers focus only on this is fuel card aspect is that simply there is a lack of alternatives or better solutions on the market. We at Fueloyal developed a new set of features custom tailored to any business operating fleet of vehicles.
