Limits - Impac - March8

Mitigating Fleet Risk: What Fuel Card Limits Are Available?

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Fuel cards incorporate security features designed to protect fleet companies against unauthorized activity: purchase controls or limits. 

Mitigating Fleet Risk: What Fuel Card Limits Are Available? - Impac

Once a fleet company has determined if the implementation of fuel card limits would be beneficial to their business, they are able to choose the limits that best suit their daily operations.

Setting limits that are satisfactory for the drivers and vehicles that make up a fleet can be a challenging task; if controls are too restrictive, drivers may face delays with lost time and company money as a result. However, if they are too relaxed, vulnerability to internal suspicious activity increases.

Most fuel card programs have various helpful limits available: gallons or dollars allowed per transaction or day, number of transactions per day, authorized fueling times and days, fueling location, fuel only or fuel and maintenance usage, and driver PIN numbers. 

Some cards can restrict the fuel or product type that cards can purchase. Product type limits have the ability to prevent unauthorized behavior, as well as to prevent drivers from inadvertently filling the tank with the wrong type of fuel–reducing the risk of maintenance issues down the road. 

While utilizing a fuel card can bring significant savings to a fleet company effortlessly, those companies who implemented the limit of restricting the number of gallons or dollars allowed per transaction per day saw an annual savings of at least 6 percent.

When fleet owners begin applying these limits to their cards, they must consider the nature of their business. If all drivers and vehicles have similar needs, one card limit template is acceptable to use for all cards. However, customization by driver or vehicle may be key to defeating unauthorized usage. 

Mitigating Fleet Risk: What Fuel Card Limits Are Available? - Impac

At Impac, our comprehensive fuel card program offers customizable limits for fleet companies, including time of day, day of week, purchase amount and fuel type. 

In addition, our attentive customer service team notifies fleet managers of unauthorized behavior with real-time text and email alerts, as well as detailed account management. 

Whether a business prefers more restrictive or relaxed limits, the purchase limits that are established on fuel cards should fit the unique needs of the fleet. Although there are a number of diverse limits on the market, fleet companies must know how to choose their ideal limits. 

In the next article of our series, “How to Set Fuel Card Limits”, you can learn how to effectively choose and implement fuel cards limits that can increase business productivity and help mitigate fleet risk. 

Mitigating Fleet Risk: Why Set Fuel Card Limits? - Impac

Mitigating Fleet Risk: Why Set Fuel Card Limits?

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According to data recorded by Automotive Fleet, unauthorized purchasing is the third most challenging issue faced within the fleet industry, after maintenance and raw fuel costs.

In strong efforts to minimize unauthorized personal and fuel spend, many fleet card companies offer purchase controls, or limits, that allow fleet managers to restrict location, time of day and other specifications for card use.

Some cards can restrict the fuel or product type that cards can purchase. Product type limits have the ability to prevent unauthorized behavior, as well as to prevent drivers from inadvertently filling the tank with the wrong type of fuel–reducing the risk of maintenance issues down the road.

Consequently, 71 percent of fleets allow personal use of both vehicles and fuel cards at all times.

Although limits are optional features on fuel cards, fleet managers are advised to implement them. Limits become necessary tools to run a successful fleet business, as unauthorized spend is a recurring issue throughout the industry.

95 percent of fleet managers believe their drivers are involved in suspicious activity, while only 18 percent are reported or caught. Therefore, unauthorized personal and fuel spending are underreported in the industry but persist to continue, causing an average loss of $130 a month per company.

However, fleet managers who have set limits on their fuel cards claim it has helped reduce overall fuel spend by as low as 5 percent, providing significant end-of-year savings.

It is important to keep in mind that setting the strictest limits can have an adverse effect on reducing company fuel card abuse. While they might be helpful in stopping personal spending, overly strict limits can deter drivers and slow business production down.

In these cases, relaxed limits are still acceptable, as email alerts can be set to help alert and detect suspicious behavior.

Mitigating Fleet Risk: Why Set Fuel Card Limits? - Impac

When it comes to setting limits on fuel cards and the benefits they may coherently present, Impac offers a customer service experience that is aimed to educate and inform.

At Impac, our fleet card program offers the most comprehensive tracking and reporting system in the industry today. Our flexible point of sale prompting, card level exception reporting and purchase control parameters allow fleet managers to manage their fuel programs with ease, within an industry that silently demands enhanced security.

As fleets in the industry require varying demands, based on sector, size and other factors, managers must recognize which limits are right for their business. In the next article of our series, “What Fuel Card Limits Are Available?”, you can learn what fuel cards limits and controls are available for implementation to help mitigate fleet risk.

5 Ways to Minimize Distracted Driving - Impac

5 Ways to Minimize Distracted Driving

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According to the National Highway Traffic Safety Administration (NHTSA), approximately nine people die each day as a result of distracted driving.

5 Ways to Minimize Distracted Driving - Impac

As safety is an ongoing effort within the fleet industry for both large trucks and small, it is important for fleet managers to have their drivers practice safe driving.

Here are five ways to help fleet drivers eliminate unnecessary driver distractions:

1. Don’t Multi-Task. When on the road, many drivers can be tempted to do other things and multi-task. However, drivers should only be focused on the road to avoid an accident.

2. Don’t Eat. Eating or drinking while driving can be a huge distraction. Therefore, drivers should eat before or after their trips on the road. If necessary, they can pull to the side of the road to eat in a safe place.

3. No Phones. If a driver must make a phone call, they should pull over to make the call. Although hand-free talking is available within many vehicles, it can still result in an accident. In addition, drivers should never text. To accomplish this, keep all electronics out of reach.

4. Get Organized. Driving with unnecessary clutter all over a vehicle can result in distracted driving. Drivers should organize all paperwork, baggage and gear prior to heading out on the road.  

5. Adjust Before. To avoid distracted driving, drivers should set GPS systems, climate control, mirrors and seats before getting on the road.

5 Ways to Minimize Distracted Driving - Impac

With safety in mind, Impac offers reliable fleet fuel card programs and innovative GPS tracking and reporting systems. With access to specialized telematics data provided by these technologies, driver behavior can be properly reported, monitored and handled accordingly.

To take a step towards reduced distracted driving within your fleet, contact Impac.

Growing A Successful Fleet-Impac

Growing a Successful Fleet

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Growing A Successful Fleet-ImpacCreating and growing a successful fleet is no small nor easy task. However, with careful pre-planning and inside knowledge, fleet managers and operators have the ability to grow and build a successful fleet business. By taking the proper steps, growing a successful fleet may be less of a challenge:

Prepare Finances – Fleet owners and managers must prepare their personal and business finances prior to beginning a fleet business. Managers must be capable of relieving employee payroll and maintenance costs–along with other underlying costs involved–that are required to run an efficient business.

Find the Right Trucks/Drivers – Before purchasing trucks, it is wise to find a team of trustable drivers. In the hiring process, allowing them to co-drive at first may give the fleet manager a good idea on how they drive, the work environment that may transpire, and offer the opportunity for immediate correction of any issues.

Growing A Successful Fleet-Impac

Create an Entity – Creating a strong entity where a business permanently resides could potentially result in loyal clientele and profitable sales–ultimately growing a successful fleet business.

Plan a Business Structure– Along with deciding how daily operation will run, an important thing within the fleet business to implement methods to cut costs. Utilizing comprehensive GPS tracking systems and universal fleet fuel cards can both save a business substantial amounts of money and time.

Whether an individual is beginning a startup fleet business or an existing company desires to alter business practices, Impac strives to help clients of all sizes grow and maintain a successful fleet. Through the utilization of our comprehensive fleet fuel card program and innovative tracking and reporting GPS system, business costs can be minimized while business operations can be optimized for a more promising future.

Looking to grow a successful fleet while eliminating unnecessary costs? Our professionals can help. Call Impac today.

Fleet Management Explained-Impac

Fleet Management Explained

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Fleet Management Explained-ImpacFor a fleet manager new to the industry or looking to expand their current services, understanding the ins and outs of fleet management is the first step in optimizing costs, risks and efficiency within fleet operations.

Many fleet organizations rely on fleet management tactics–typically serviced by the fleet manager–to control company costs, maximize profitability, and mitigate risks of their fleet vehicles. Here a few ways effective fleet management can influence the overall success rate of the fleet:

Vehicle Safety – To reduce distracted driving and decrease the amount of injury claims within a fleet, implementing a reliable GPS system tool can provide safe road routing and signs of needed vehicle maintenance.

Operational Efficiency – When it comes to vehicle and asset utilization, GPS tracking systems as an effective management tool. Fleet businesses are able then to know when a truck arrives at its destination.

Driver Regulation – Implementing a GPS tracking and report system into daily operations can detect unauthorized driver behavior like vehicle idling. Fleet Management Explained-Impac

Fuel Management – Fleet managers can help eliminate drivers from abusing company fuel spend through fuel fleet cards. These cards can be integrated with GPS systems to match fuel purchases with real-time vehicle locations–verifying fuel usage.

Impac offers both a comprehensive fleet fuel card program and a cost-effective GPS tracking solution to allow improved fleet management within companies of any size in the industry.

At Impac, our fleet cards provide online system access and purchase controls to prevent criminal behaviors like fuel theft. In addition, these cards will save time wasted on rummaging through purchase receipts–ultimately allowing a shift of focus to company profitability. Our GPS systems are convenient through its web-based software that offers real-time tracking for both in-vehicle hardware as well as handheld devices of all kinds.

Call us today to learn more about how we can improve your fleet 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.