Companies need better measures when recording mileages to ensure accurate records. If 20% of employees mileage claims end in a zero they are probably rounding them up, which creates inaccurate readings and could cost the company significant amounts of money over a period of time.
Fuel card spend also need to be addressed; random checks can be an easy way of checking fuel card expenditure. A simple calculation can find fuel card misuse, Fuel card spend divided by the mileage of a recently-returned vehicle. If the figures are unrealistic, taking into account the vehicle mpg, then action needs to be taken.
There are a number of systems on the market, which can record mileage and SME’s are taking up the advantages of these. Telematics has seen a rise in sales over the last few years, with companies seeing the return of investment they can offer.
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