Early data from Motive shows that some fleets are missing savings of as much as 5% of their fuel spend. This means that a 1,000-vehicle fleet spending approximately $1 million on fuel every month could potentially save $50,000 monthly or $600,000 annually.
Motive has launched Missed Savings, a feature designed to help Motive Card fleet customers reduce fuel costs by up to 5% or more.
Commercial fleet managers can now automatically pinpoint where drivers have missed savings and how much it is costing them. This data-driven approach allows fleet managers to ensure drivers stop at the lowest-price fueling locations rather than stopping out of habit or convenience.
Identifying Opportunities for Savings
Exclusively available to Motive Card customers, Missed Savings leverages shared fleet and spend management data to automatically identify and surface areas of wasteful fuel spending to fleet managers.
Early data shows that some fleets are missing savings of as much as 5% of their fuel spend. This means that a 1,000-vehicle fleet spending approximately $1 million on fuel every month could potentially save $50,000 monthly or $600,000 annually.
“The cost of doing business has never been more expensive – in large part due to high and varying fuel costs. On top of that, spend management data lives in hard-to-access, disparate systems that are time-consuming to analyze. Businesses are wasting millions of dollars on missed fuel savings per year because they don’t have access to the data needed to make smarter fuel decisions,” Motive Financial Products Vice President Hemant Banavar said.
The automated insights are designed to help fleet managers better manage and coach drivers, and to achieve up to 5% more in savings, Banavar continued.
How the Data is Calculated
Motive’s natively integrated fleet and spend management data enables fleets to maximize their savings from the Motive Card partner network.
Using its 360-degree view of vehicle location data and fuel price data, Motive analyzes the prices of fuel where drivers fill up compared to nearby other fueling stations and delivers automated reporting and coaching recommendations to help drive down costs.
With these insights, fleet managers can determine which of their drivers are regularly spending more than they need to on fuel and take action, such as coaching drivers to fuel up at a cheaper nearby stop or restricting card usage at perpetually higher-cost merchants.
