Got a story? Ring us on 01732 748041 or e-mail twood@unity-media.com TRANSPORT,TOOLS,EQUIPMENT&WORKWEAR Fuel cards not just money savers Peter Bridgen, manager director of Keyfuels*, discusses the benefits of fuel cards and a well-planned fleet management system... The bread and butter for any installer is securing new contracts and installing quickly and efficiently to the required legal standards. The cost incurred in materials and time and what this means to your profits, understandably warrants the bulk of your attentions. But, as fuel costs continue to rise, the extent to which the fuel-spend affects your business’ profitability, especially if you’re running a fleet of vehicles, is certainly worth closer inspection. Some readers may be familiar with fuel cards, or at least how they work at their most basic level. For others, it’s new territory. TECHNOLOGICAL CHANGE At their most basic level fuel cards are simply a means to obtain fuel at commercial rates and allow access to a nationwide network of convenient refueling sites. Historically, this was the extent of their remit, but the speed of technological change is such that modern fuel cards offer much more than just cheap fuel. The reality being, wholesale cost savings and substantial fleet efficiency benefits can be gained by signing up to a fuel card. If you’re running a fleet of vans or light commercial vehicles, anywhere from ten, 20 or 30, perhaps, and you’re not making the most of the benefits of a fuel card then it’s worth knowing a bit more about the market. In recent times, there has been a significant rise in the number of technologies to help reduce costs that enable business owners to monitor driver behaviour more accurately, including reporting systems and Miles Per Gallon (MPG) monitoring and on-board vehicle software systems. Key to any fuel management strategy is time saving and easy access, so choosing a fuel card partner who can offer an extensive UK coverage, meaning drivers don’t have to deviate from their routes to find a participating site, is a crucial factor in finalising any deal. 2013 was a challenge for businesses of all sizes, and with costs rising still, the need is WWW.HPMMAG.COM “If you’re running a fleet of vehicles and you’re not making the most of the benefits of a fuel card then it’s worth knowing a bit more about the market...” stronger than ever to be organised and keep on top of fuel use. By aligning yourself with the right fuel card and fuel management provider, businesses can help keep fuel costs down and ensure fleets run as profitably as possible. Fuel card and fuel management providers have invested heavily over the last couple of years to refine their reporting tools and the information available to drivers and bosses, whether it’s how efficiently a vehicle is being driven or whether fleets are being used properly. With the advancement of monitoring reporting tools like E-Fuels and Intelligent Reporting Information Systems (IRIS) – which measures the efficiency of individual vehicles - fuel management systems offer managers the ability to monitor how every litre of fuel is used as part of a bespoke integrated fuel solution, delivering vital vehicle performance data. E-Fuels, for instance, allows managers real time access to account information 24 hours a day, including transaction management and site network enquiries. This management reporting system helps provide operators with information on fuel usage and the fuel efficiency of drivers. Used in conjunction with IRIS, E-Fuels can demonstrate MPG figures for a required data range whether this is weekly, fortnightly or monthly. The data recovered by these systems can be used to highlight fleet fuel needs but also any fluctuations in MPG figures, which may indicate where driver training or possible vehicle maintenance may be required, or where fraud or inappropriate card use may be occurring. FRAUD DETERRENT With soaring oil prices now commonplace, it was only a matter of time before theft reached the top of the agenda. The National Fraud Intelligence Bureau warned recently of the alarming rise in fuel theft, attributed partly to fuel cards and a lack of security, which has already seen some larger companies register losses in excess of £400,000. Keyfuels is leading the way in fuel card security technology, recognising the huge cost 56 FEBRUARY 2014 HEATING & PLUMBING MONTHLY implication of theft and misuse. At point of sale, Keyfuels cards require online authorisation, which is checked against a real-time ‘whitelist’ of active cards. If a card has been blocked or unauthorised, then transactions cannot be made. Also, where pumps are unattended or ‘Pay at Pump’ - often an easy targets for fuel fraud – is used, the system requires additional pin verification. There’s a strict three-pin policy, whereby if the pin is entered incorrectly three times the card is frozen for 15 minutes. This timespan allows drivers time to verify their pin, but acts as a deterrent to potential fraudsters. Clients can also use the Keyfuels systems to observe real time fleet fuel use, allowing bosses to assess any discrepancies and instantly cancel lost or stolen cards reported by drivers. For added peace of mind, companies are also able to opt into zero liability agreements, whereby once a card has been reported lost or stolen the responsibility for any use thereafter lies with the fuel card provider. INSTANCES OF THEFT The systems can also be used to unearth usage that occurs out of hours or outside normal driver routes. Furthermore, where MPG discrepancies arise that are not attributable to driver error or an inefficient vehicle, it can indicate where instances of theft are potentially occurring. It should be clear by now that fuel cards offer much more than cheap fuel and access to a strong network of sites. If the cost of fuel is starting to bite and your spend is creeping up year on year, it is certainly worth looking into what fuel cards can offer your business. While many of the more advanced management tools are designed with large haulage fleets in mind, there are still huge benefits to be gained from smaller fleets of vans or light commercial vehicles who want to ease their fuel burden and increase profits. * Keyfuels is a fuel card and fuel management provider. enquiry number 141
HPM February 2014
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