Press Release
Motive Launches Missed Savings for Motive Card, The Industry’s Only Automatic Fuel Savings Detection Tool
June 26, 2024 · 3-minute read
Businesses waste millions of dollars each year on fuel because they lack the data to make smarter fueling decisions.
Motive estimates the trucking sector missed out on approximately $6.7 billion in potential fuel savings last year.
SAN FRANCISCO – Motive, the AI-powered Integrated Operations Platform, today announced the launch of Missed Savings, an industry-first feature designed to help Motive Card customers reduce fuel costs by up to 5% or more. 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.
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,” said Hemant Banavar, vice president 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.”
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 unique 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. By acting on the data available, they can convert missed opportunities into real savings. To learn more about Missed Savings with Motive Card, visit here. To learn more about the Motive Card, visit https://gomotive.com/products/spend-management/.
