HANDLING YOUR COMPANY’S TRAVEL EXPENSES

HANDLING YOUR COMPANY’S TRAVEL EXPENSES

If you are a business owner, no doubt you have a lot on your hands. Aside from making sure all your operations are going along swimmingly, you also have one major task to handle; keeping expenses to a minimum. As your business (hopefully) grows, and you have more and more to bear in costs, it will become difficult to keep a track of it all individually. Of course you cannot just let them pile up and forget about it, so what happens then? Well, one of the best things you could consider, is to consolidate certain sectors so that you could total them together. A good example would be fuel costs. Instead of having to track each and every fuel transaction (which for large companies is too much work), you could just opt for a system much like a credit card. Here is how.

AN INTRODUCTION

Many businesses around the world are now looking for ways to automate as many of their transactions as possible since this saves time and money for everyone involved. In a world where we seem to be quickening our pace with every passing day, it does not do to dawdle anymore. Hence, the introduction of a credit card type system for transport which works especially well for companies that are focused on logistics. Take for example Caltex fuel cards; how it works is, every vehicles/user would have a personalised card to use which is then swiped once your pump in petrol to record the transaction. The total of all your cards in use will be calculated at the end of every week by the fuel company after which an invoice is sent for you to pay. Quick, easy and effective.

WHY IS IT USEFUL?

When operating a large number of vehicles that are always making their way up and down, fleet managers and logistics managers are unable to keep chasing them all the time. Reimbursing is simply not practical and this just leads to issues piling on top of each other. This way, on a pre-agreed contract the fuel stations will be able to recover their costs, and the company will also be able to cleanly maintain their records. This also means they can efficiently calculate all the costs in one go, and pay them off periodically.

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HOW TO GET THEM

Of course now that you have heard about them, you are probably wondering how you too can get your hands on some. The process is quite simple really, you just need to have some information handy such as how many vehicles you require the cards for, distance they travel, their regular routes and how much fuel they expend on average. Say for example you want to opt for Caltex fuel cards; what you need to do is simply get in touch, organise a meeting and discuss your options with their team. There are different packages to choose from, so you can select something most relevant to you. Afterwards, you would sign a contract which you can renew over time.

RESEARCH

Different fuel companies have different offers so if you are introducing this for the first time in your office, it is best you research as much as possible and then draw up a list of pros and cons with each. This will help you get a general idea of which direction to head in which will be further narrowed down once you meet with each company personally and hear what they have to offer. Just remember, no rash moves; if you find one does not work for you, you can always switch at the end of your contract. For more details visit this http://www.int-ch.com/.

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