Impac's Customer Service: Risk Management

Impac’s Customer Service: Risk Management

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Mitigating risk is a responsibility most employees in a management position will be tasked with handling. Running an automotive fleet company comes with its own risks. Preventative countermeasures protect a company. By enforcing risk management practices, a company can reduce or stop fraudulent behavior.

Impac's Customer Service: Risk Management

Risks Associated with the Automotive Fleet Industry

Unauthorized purchases remain the biggest threat to businesses within the automotive fleet industry. Without limits, employees are more likely to partake in fraudulent behavior, like making unnecessary purchases in the convenient store on snacks or other items. Employees might also use the fleet card to fill up their personal vehicles. These risks can be minimized through fuel card limits and restrictions.

Methods of Risk Management in the Automotive Fleet Industry

The first step to proper management within the industry is determining the limits needed for a company’s fuel cards. Impac offers account management services. This service allows Impac representatives to review current limits in place and provide personalized recommendations for a company. The first thing a representative will help decide is whether the card should be attached to a vehicle or employee. From there, restrictions like date or time limits, spending maximums and limits on types of purchases can be implemented to reduce risk.

Impac's Customer Service: Risk Management

A 24-hour review of all fleet cards also helps manage risk. Each day, Impac searches a company’s fleet cards and reports any fraudulent behavior to management. Impac also tracks every call, email and case as another form of risk management. With any claim, Impac’s personal support representatives can refer to previous conversations to quickly provide information and solutions.  

Contact us for more information on how your automotive fleet company can practice risk management.

How To Prevent Fraud At The Pump-Impac

How to Prevent Fraud at the Pump

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How To Prevent Fraud At The Pump-ImpacAs more fleet fueling businesses are utilizing fleet cards to cut overall fuel expenses and pave the way for smoother operations, the number of drivers who are committing fuel card fraud has increased drastically.

However, by practicing a variety of methods to prevent the fraud prior to its occurrence, it is possible to reduce the number of drivers committing this act:

Restrictions. With fuel cards, spending limits can be implemented to ensure the driver only spends money when they need to. To do this, fuel cards can be set to a daily limit or be pre-funded.

Education. Sometimes, educating drivers on the concept of fuel card fraud and the consequences associated may be helpful in reducing numbers. Not only could performing fraud cost them their job but it is also illegal.

PIN Numbers. If a personal identification number (PIN) is required prior to each fuel purchase, this could reduce the amount of fraud at the pump. In addition, if questionable activity occurs, the fleet manager can seek reports and will know who to talk to.

How To Prevent Fraud At The Pump-Impac

Trip Reports. Fleet managers typically know the fuel efficiency of their fleets. If the amount of money spent does not match the number of miles traveled, that may be a red flag for fuel card fraud. Also, it is important to notice how many times drivers stop within a certain distance.

Logs vs. Receipts. It is important to carefully examine all bills and statements and compare them to fuel receipts–ultimately ensuring all numbers match.

Impac’s fleet fuel card program offers the most comprehensive tracking and reporting system in the industry. We strive to be diligent and proactive when handling our clients’ fleet fuel cards. At Impac, our professionals carefully examine and review all logs and receipts to ensure potential red flags are caught and treated immediately–eliminating costly ramifications for the business.

Contact Impac to learn more about our options of fleet fuel cards and how our program can help your organization prevent fraud at the pump.

Mobile Fueling Explained- Impac

Mobile Fueling Explained

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Mobile Fueling Explained- ImpacFleet fueling is the management method a company uses to fuel their fleet of trucks and cargo. The most common fleet fueling methods include fleet fuel cards, mobile fueling, on-site bulk fuel tanks, cash, and generic credit cards.

Mobile fueling, also known as wet-hose fueling, occurs when a fuel truck comes to a truck yard and individually replenishes each truck with fuel. In terms of money and time, mobile fueling is a more economical option opposed to off-site fueling.

Mobile fueling has been used in many areas for decades. Previously, this method was only done for off-road vehicles; now, its conducted in various areas like farms, logging operations, and construction sites.

Mobile Fueling Explained- Impac

For companies who drive local routes and return to the truck yard daily, mobile fueling is a prevalent choice. This method of fleet fueling offers the opportunity for supply, service and risk management through real-time transaction data and fixed price fuel hedging solutions. The convenience associated with this method is also highly reputable. Mobile fueling distributors have the ability to service a company’s fleet overnight or whenever they are not in use. This flexibility allows ample time to resolve potential equipment issues the fleet manager may encounter.

Through wet-hose fueling, storing fuel on company grounds is no longer needed, eliminating environmental and safety concerns. In addition to these positive advantages, mobile fueling can provide a fleet-based company with a superior amount of savings on their fuel expenses. Wet hosing is a cost-effective method of fleet fueling for large fleets of trucks that more commercial businesses are incorporating into their fueling practices.

Unsure what fleet fueling method is most beneficial for your organization? Impac can help. Impac’s fleet fuel card program offers the most comprehensive tracking and reporting system in the industry today, guaranteed to save big on your fuel expenses. Contact us today to get started.