Motive launched Missed Savings, what is said to be an industry-first feature designed to help Motive Card customers reduce fuel costs by up to 5% or more. This data-driven approach alerts drivers of the lowest price fueling locations.
“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,” says Hemant Banavar, VP of financial products at Motive. “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. 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.”
Key takeaways:
- 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.
- 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 fueling stations and delivers automated reporting and coaching recommendations to help drive down costs.
