Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Fuel Cards Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the logistics, warehousing and transportation industry. This report breaks down the data and analysis behind the procurement of fuel cards and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Fuel Cards Procurement Market Intelligence Report (Graphic: Business Wire)
"The growth of the fuel cards market can be attributed to the increased adoption rate and features provided by suppliers such as telematics interfaces that provide robust reporting and tracking facilities to track fuel spend and driver efficiency and help buyers improve fleet management efficiency," says SpendEdge procurement research analyst Tridib Bora. "Fuel cards offer detailed information on fuel transactions, thereby reducing the potential fuel abuse by employees and they also, enhance control over vehicle use," added Tridib.
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Key Report Features
Supply Market Insights | Negotiation Strategies | |
Procurement Best Practices | Category Risk Analysis | |
Cost Saving Opportunities | Key Supplier Analysis | |
Pricing Models | Supplier Capability Matrix | |
Report Insights
- The growth of the fuel cards industry is expected to rise during the forecast period due to the widespread adoption of digital payment solutions by businesses and consumers. Also, the growth of cashless transactions in Europe is also expected to accelerate due to the improvements in the regulatory norms. Growth of the e-commerce market and high mobile penetration have led to a rise in the non-cash transactions carried out in India and China.
- The buyers in this market should assess the quality of online real-time fuel management systems. The online fuel management systems should include an online invoicing system for ease of accounting and tools that can provide statistics on fuel consumption, cost, and mileage. These fuel management tools help buyers assess the efficiency of the drivers and vehicles.
- One of the key challenges faced by buyers in this market includes challenges arising due to the lack of compatibility with existing fuel management systems. Buyers face difficulty in integrating the reporting tools provided by issuers with existing fuel management tools. Therefore the buyers should evaluate the flexibility and customizability of the reporting tools provided by suppliers before engaging with them.
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Fuel Cards Market Pricing Trends
The pricing models used in this industry include tiered pricing, interchange plus, subscription-based pricing. Interchange plus and tiered pricing are the most widely adopted pricing models in the fuel cards industry. The interchange-plus offers the buyers the advantage of pricing transparency, and it encourages suppliers to set reasonable markups on the price whereas the tiered-pricing model allocates different rates for each transaction depending on the level of risk associated with it. It also helps buyers in distinguishing the risks associated with various transactions.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
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