The cost of doing business is going up. It’s a common complaint no matter the industry. Motive’s Physical Economy Outlook Report found that rising costs were the number one challenge threatening physical operations last year. To help fleets reduce costs, Motive Card has built a savings network of over 25,000 partner locations nationwide, providing deep discounts on fuel, maintenance, and more at brands like Love’s, TA, Casey’s, 7-Eleven, and Exxon. Our Savings Finder tool in the Driver App helps drivers navigate to the best savings by showing nearby fueling locations alongside real-time fuel prices and Motive Card rebates.
However, it’s the drivers that make the decisions on where they fuel up every day, so the real game-changer for fleets lies in ensuring the effective utilization of these savings tools. How can managers guarantee that their drivers choose to stop at the cheapest fueling location every time instead of stopping out of habit or convenience?
Enter Motive’s new Missed Savings feature, empowering fleet managers with increased visibility into drivers’ fueling choices and the ability to influence behavior on the road. Fleet managers can now see exactly where their drivers have missed out on savings and how much it is costing them via personalized emails or within the Motive Dashboard.
This data-driven approach allows fleet managers to take action to correct these habits by coaching their drivers to make cheaper fueling choices, or by blocking locations where they frequently observe higher prices.
And this feature is already making a difference for businesses. 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 $50k monthly or $600k annually.
Rising fuel costs put pressure on all businesses that operate commercial vehicles, but it’s especially acute for the trucking industry in particular, which moves approximately 72.6% of the nation’s freight by weight. With the fuel expenditure for the trucking industry around $134 billion annually, the trucking sector alone potentially missed out on approximately $6.7 billion in fuel savings in 2023 (based on missed savings of as much as 5%).
Identifying missed savings and taking action would be impossible to do at scale without Motive’s integrated view of data, as it would require hours of manual reconciliations and matchbacks. As the only operations platform with natively integrated spend management, Motive is the only provider that gives visibility into missed savings and can help fleets significantly reduce their costs through automated reporting and coaching recommendations.
Current Motive Card customers can see Missed Savings data in their Motive Dashboard today. To find out more about Motive’s fleet card and spend management capabilities visit gomotive.com/products/motive-card.
Sources: Truckinginfo.net, ATRI Operational Cost of Trucking 2023 Update, US Energy Administration Information
