Be it any business, transportation/logistics play a prominent role in it. From having a fleet of thousand vehicles to a few, from owning the fleet to outsourcing it to another, there are various problems faced by all the fleet businesses but most of them are associated with the expense management.
These problems are a matter of concern to both, the fleet managers and even their employees. The issues for a fleet manager are –
- Tracking the expenses.
- Ensuring there are no duplicate/wrong data entries.
- Keeping an account of the expenses.
- Reporting it on a timely basis.
For an employee, the issues are –
- Reimbursing for the operational costs i.e fuel, toll etc.
- Keeping a day to day memo as a proof of the expenses.
- Having to pay for the expenses out of their pocket which becomes hard for an individual living hand to mouth already.
In countries like India, this is mostly the case and it’s the gig economy that suffers. This all can be done using pen-paper but eventually becomes a cumbersome task and hence is not logical to adhere with.
The best solution to all these challenges is to shift from the way expense management has always been done and realize how technology has evolved to tackle down these obstacles. It is understandable that it is difficult to change the way a business has been operating but as the old saying goes “Change is inevitable”. Every business needs to adapt to these new technologies to compete better and thus, survive in the market.
Fleet Expense Management tool is clearly what the fleet managers and their employees have need of and should switch to. It provides a paper-less, simplified, reliable and far more transparent way the expenses are done and recorded.
It helps the fleet manager –
- Have a better control of the expenses.
- Real-time tracking of the expenses.
- Automated reporting and accounting in a timely-based manner.
- Prevents any fake/duplicate entries if any.
For an employee, it helps them by –
- Not having to record every expense manually as a proof saving their time and reducing their work.
- It also enhances the process of reimbursement by providing an up to date tracking of expenses and side by side consolidated billing of it.
Bon was started solely to fulfill this requirement by providing an expense management application along with a fuel card to be the answer to the challenges faced by the fleet businesses. The idea behind the fuel card is to also empower the gig economy i.e the drivers while making the expense management easier and better. Fuelling your vehicle and the additional expenses specific to the business is an essential task in the daily routine of any transporter/fleet owner. Using cash to make these expense every day can lead to mismanagement & makes it hard to keep track of the expenses.
Bon provides a Bon card – acceptable across any merchants approved by the employer like petrol pumps or tolls or a specific grocery shop that your drivers can use which eliminates the need for cash. Then the fleet manager can use our app to monitor the expenses & manage the fleet, export invoices & reports as per their needs.
Thus, it would be ideal for a fleet business to adapt to a fleet expense management tool and especially if it is Bon, it would be a win-win situation for both the fleet manager and the employees by making expenses controlling, tracking, managing easy at one place and also enabling the gig economy.