It’s no secret that a majority of trucking companies across the United States are utilizing freight factoring services — and for a good reason too. It protects your company’s cash flow, gives you more time to focus on what matters, and gives you the confidence to continue moving forward in your industry.
Believe it or not, freight factoring companies do much more than handle your invoices. They go above and beyond to ensure trucking companies have the tools and resources needed on a daily basis. You never know when expenses might appear and it’s essential your company is prepared for anything.
That’s why most freight factoring services will provide discount fuel cards for the trucking companies they serve. Fuel cards can save you an average of 49 cents per gallon of diesel fuel, as well as streamline your fuel expenses into a single invoice. They are also extremely easy to manage and provide a lot of security when out on the road.
Using Freight Factoring Fuel Cards
When you first start with a freight factoring company, they’ll likely offer you the option of signing up for a fuel card. There will generally be several different cards with different programs, allowing you to select the one that fits your company’s needs the best.
Discount fuel cards will function as a credit card but allows your drivers the ability to save almost 50 cents per gallon. They will come with a weekly limit and the fleet owner will have the ability to designate who can use the card — as well as what they can use it on.
With most fuel cards, you can avoid a transaction fee by fueling up at one of the card’s in-network gas stations. All you do is swipe the card, push a few buttons, and then the bill will be sent to you. This will also save your drivers from having to carry fuel money on them.
Managing Your Fuel Card
Aside from the savings, discount fuel cards for trucking companies provide the fleet owner with security. They’ll have the ability to manage every transaction going through their fuel cards, as well as where that transaction took place and who made the transaction.
Some freight factoring companies will even provide additional tools like a ‘fuel discount finder.’ For example, Apex Capital provides the Apex Fuel Finder that gives your drivers the ability to find the best fuel prices near them. It’ll also detail which gas stations are in-network so they can avoid any transaction fees.
With the Fuel Finder, real-time reporting, and access to funds when you need it the most, freight factoring services like the ones provided by Apex Capital are helping trucking companies remain afloat whenever and wherever.
If you’re interested in learning more about freight factoring and how it can help your trucking fleet operate at maximum capacity, contact us today. There is a wide variety of companies ready to assist you and we want to help you find them!
References
Apex Capital Corp. “Apex Fuel Card for Trucking Companies: Save Big on Diesel Fuel.” Apex Capital | Freight Factoring for Trucking Companies, www.apexcapitalcorp.com/fuel/.
Apex Capital Corp. “Apex Fuel Card Saves Truckers $75 Million on Fuel: Apex Capital Blog.” Apex Capital | Freight Factoring for Trucking Companies, 8 Feb. 2016, www.apexcapitalcorp.com/blog/fuel-card-saves-75-million/.