Motive, an AI-powered operations platform, has introduced “Missed Savings,” a groundbreaking feature designed to help Motive Card users significantly reduce their fuel expenses by up to 5% or more.
According to Hemant Banavar, Vice President of Financial Products at Motive, “The cost of doing business has never been more expensive — in large part due to high and varying fuel costs,” said Banavar. “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.”
How It Works
The new feature allows fleet managers to automatically identify where drivers are missing out on fuel savings and how much these missed opportunities are costing the business. With detailed, data-driven insights, fleet managers can direct drivers to the most cost-effective fueling locations rather than relying on habitual or convenient stops.
“With this new offering, Motive is the only fleet card delivering automated insights to empower managers to control spend, better manage and coach drivers, and achieve up to 5% or more in savings,” Banavar said. “With fuel expenditure for the trucking industry around $134 billion annually, we estimate the trucking sector alone missed out on approximately $6.7 billion in potential fuel savings last year.”
Exclusive Benefits for Motive Card Users
Available exclusively to Motive Card customers, the Missed Savings feature uses combined fleet and spend management data to pinpoint areas of wasteful fuel spending automatically. Early user data indicates that some fleets miss out on savings equating to 5% of their total fuel expenditure. For instance, a fleet with 1,000 vehicles spending $1 million monthly on fuel could potentially save $50,000 each month or $600,000 annually.
Maximizing Savings
Motive’s integrated fleet and expense management tools allow fleets to optimize savings using the Motive Card partner network. By leveraging comprehensive vehicle location and fuel price data, Motive compares fuel prices at different stations and provides automated reports and recommendations. These insights enable fleet managers to identify drivers who consistently overspend on fuel and take corrective action, such as coaching or restricting card usage to more affordable stations. Converting these missed opportunities into real savings is now more achievable than ever.
For fleet managers looking to cut costs and improve efficiency, the Motive Card with its Missed Savings feature offers a clear path to smarter fuel spending and substantial savings.
Source: The Trucker
