Fuel expenses are a major cost, both time and money-wise, for many businesses, especially those managing large fleets of vehicles. Fuel cards are designed specifically to make these processes simpler, easier, and more cost-effective, as well as provide valuable insights into fuel usage - but are fuel cards the best option for your company?

Here we explain some of the key benefits of fuel cards for businesses to help you decide if a fuel card is a good idea for you.

Are fuel cards a good idea?  

At Radius, we understand that what matters to one business is often entirely different from what matters to the next. That’s one of the reasons why fuel cards are such a good idea, thanks to their versatile range of benefits. From cost savings to increased visibility over your fleet’s fuel expenses, reduced admin time, and more, there are many different reasons why fuel cards can be worth it for your business.  

Do fuel cards save you money?  

Yes - fuel cards can be a great way to save money as a business. Many fuel cards provide you with access to lower fuel prices than you would typically pay at the pump. These savings can add up significantly, especially for companies with large fleets. Fuel cards can also help to reduce costs by offering fixed prices per litre: not only does this help to protect you from fluctuating fuel costs, but it also allows you to plan ahead and budget more accurately.  

Fuel cards can also help your company save money by offering exclusive access to discounts on other vehicle-related expenses, such as AdBlue®. The Radius Velocity app also provides significant savings on administrative costs thanks to its detailed paperless transaction reports and the automatic creation of Revenue and HMRC-compliant invoices.

Perks of fuel cards for companies operating in Europe 

If your business operates in European countries, EDC fuel cards can be an excellent way of streamlining operations, negating the need for separate payment and management methods when your drivers are overseas. Some fuel card plans also include toll tag services, allowing for quicker passage through European toll stations.

Fuel cards for sustainability 

Some fuel cards also help contribute to your business's sustainability efforts by providing access to new eco-friendly fuel types, such as HVO fuel, which can lower fossil CO2 emissions by up to 90%. The detailed tracking and reporting functions of fuel cards also help managers monitor their fleet’s fuel consumption. By analysing this data, businesses can pinpoint areas for improvement and take steps to reduce their carbon footprint.  

Are fuel cards secure? 

A common concern when considering whether or not fuel cards are worth it is security. After all, the more cards you hand over to employees for fuel purchases, the higher the risk of theft. However, the good news is that modern fuel cards use a range of fraud prevention strategies to keep your company's finances safe. Many cards offer added protection through PIN requirements, spending limits, and even real-time fraud alerts. These measures help to prevent misuse whilst offering greater control and visibility over your fuel expenses.

Manage your account online with Radius Velocity 

When you purchase a fuel card through Radius, you also get access to Radius Velocity, a dedicated online platform that allows you to monitor transactions, run usage reports, order cards, and view your billing history. While you’re there, you’ll also get access to exclusive offers only available to Radius Velocity users. 

Ready to make the switch? 

If you think fuel cards would be useful for your business, contact our friendly team today to discuss your requirements and explore our fuel card options. We're here to help you make an informed decision.