A rising and recurring issue with fleets has been fuel theft.
Fuel theft can cost fleet companies significant amounts of money. However, fleet companies can become educated and aware of the fuel theft efforts that may occur within their operations to prevent such costs.
The three components that fall under the fuel theft umbrella include misuse, slippage and theft; misuse is when employees use company resources for personal gain, like fueling a personal vehicle with the company’s money; slippage is when an employee uses company dollars to purchase non-fuel items, like food; and theft is perpetrated by a third-party and may include stolen or skimmed card data.
Although the three forms vary from company to company, all equate to overall fuel theft.
Regular monitoring of employee actions through enhanced technology have helped detect and eliminate situations of fraud for fleets.
Fleet fuel cards present fleet companies with an innovative and easy approach to identify unauthorized employee behavior. A fleet owner or operator has the ability to set customized restrictions unique to each driver–including types of purchases, how much money that can be spent per day and where drivers can make purchases.
Along with instantaneous alerts, fleet card systems provide detailed reports that outline the specifics of each purchase made by cardholders. Due to the accuracy and reliability of the system, the administrative task of matching and organizing reimbursement checks is therefore neglected–ultimately saving the company wasted time.
In addition to utilizing fuel cards to conquer fraud, GPS tracking and reporting systems can show real-time employee location and has the potential to reveal important information, like underperforming vehicles or poor habits of drivers. This information can be used to track down the employees who may be responsible for such behavior and alter the issue almost immediately.
Contact Impac for a comprehensive solution to fleet fuel theft through fleet fuel cards and GPS tracking and reporting systems.