By FMW Editorial Staff
April 10, 2023
Managing a fleet comes with a whole host of expenses: some that fall to the manager, and some that end up in the driver’s hands. Fueling costs, EV charging, tolling, car washes, maintenance, and other day-to-day payments require the driver to charge vehicle-related expenses to a company card. Depending on the number and capabilities of card providers involved, the disparity of data sources and formats can cause major headaches attempting to streamline reports and take timely action.
Data collection issues also negatively impact fleet processes for drivers, who face restrictions on where to fuel or what expenses they can charge, and fleet managers who must sift through countless spreadsheets just to track the expenses coming in.
While the current front-runners of fleet fuel cards have established accepted norms, a new company has recently joined the US market intending to disrupt the industry with a simpler solution that brings a new level of value to fleets. The well-established, European-based company, Edenred, brought its fleet and mobility solutions program to the United States via its Edenred Essentials Visa Fleet card. While this card allows users to purchase fuel, charge electric vehicles, and pay any and all vehicle-related expenses, it also simplifies the fuel card management chores for fleet managers.
How Is Edenred Essentials Simpler?
“Our card is an open loop card,” says Arnaud Regent, Managing Director for Fleet & Mobility at Edenred. “It’s a VISA card that is universally accepted, meaning drivers can fuel at service stations in the US without any kind of restriction.
Arnaud Regent
“We have a unique partnership with Visa and are excited to be working with them to be the first to support Visa 2.0, so that companies can receive more granular product category level controls, more enhanced data, and the ability to receive enhanced data faster for real time business decisions.
“Unlike competitors who charge fees when customers choose to fuel outside of specific retail networks, drivers can use our Edenred Essentials to fuel at the service stations with the lowest fuel prices. Whether using a shopping club membership to take advantage of low fuel prices or choosing to fuel at cheaper stations while on the road, drivers have more choice in where and when they fuel. This goes a long way to helping fleet managers reduce costs in partnership with their drivers, while also making it easier for drivers to fuel up as quickly and conveniently as possible.”
Edenred also makes it easier to facilitate the transition towards electric vehicles through the use of multi-energy cards that work for diesel, biofuels, and EV charging, according to Regent. But the card goes well beyond fuel, as it covers a wide range of fleet-related expenses, such as tolls, maintenance, roadside assistance, parking, and VAT recovery. Drivers are given more leeway to charge relevant expenses to the card, while the card’s digital payment solutions offer traceability that prevents fraud.
Simplified Administration Saves Time and Aggravation
Edenred’s solutions also simplify administrative tasks for fleet managers by removing the need to update and upload Excel files to track expenses. “We’ve developed a unique set of dashboards that are updated in real time,” says Regent. “There’s no need to download transaction files for the Fleet Manager, no need to split these files into Excel files to follow fuel consumption transactions, and so on. Everything can be done automatically.”
Edenred automates invoicing, reporting, and consolidation operations. The company makes things even simpler by allowing users to change the card’s parameters through the platform. Instead of having to spend hours calling customer care centers to make changes, customers can use the Edenred platform via their mobile device or computer to make the changes in real time. And coming soon, the platform will also allow users to manage information in multiple languages, beginning with Spanish, making it even more efficient.
“Our intention is to be different from the market leaders in the US,” continues Regent. “So, we have developed a unique product that features on-the-go controls, advance reporting, and easy setup of card usage. You can set up to pay at the pump or in the store, choose your type of fuel, and so on. Our mission is to simplify the managers’ and drivers’ experiences.”
Edenred also sets itself apart with transparent prices and fee policies. While customers can often receive invoices with surprise charges from fees that have been hidden on TNCs, Edenred Essentials includes upfront pricing with no hidden fees.
Entering the US Market
Many companies new to the fleet management space are often startups working to raise funds to grow their business. But while Edenred isn’t a well-known company in the US yet, it has over 50 years of experience servicing 900,000 clients across the globe.
“We are not a startup,” says Regent. “We are a global company listed on the French stock markets. We have strong experience all over the world on fleet cards and we plan to stay in the US for a long time.”
The company was originally founded in France to offer employers the ability to give their employees subsidies to spend money at restaurants. For the last 15 years, however, they’ve pursued the fleet and fuel card industries through different types of acquisitions in Europe and South America.
“In Latin America, Edenred has taken a really strong market position in this industry,” says Regent. “We believe in this business and we are strongly competing around the world. We have a lot of successful stories in Europe, France, Germany, Italy, and Latin America around the fleet and fuel card business. We have some great offerings, so our intention is to bring these offerings to the US.”
The company has established the leading position in the Fleet & Mobility market worldwide, reaching #1 in Latin America and #4 in Europe. Currently, the company offers over 90 fleet & and mobility programs that enable its customers to efficiently manage their fleets, optimize their costs, and make substantial reductions to their carbon footprint.
“Since we launched our VISA fleet card last year here in the United States in late 2022, we’ve already seen that the service is highly popular with customers looking for an easier-to-implement alternative for their fleet fueling needs,” notes Regent. “Not only does the service help both drivers and fleet managers save time and optimize efficiency, but it also uses a cashback rewards program that can help companies save even more money.
“We have already done a customer survey that is really, really promising. The satisfaction rate is just incredible with our first customers — and we now have hundreds of them – report that they are pleased with what we’re offering. It’s been a really great response so far.”
