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Sep 19, 2024
A few years ago, managing expenses was easy. Everyone in your team had one fuel card, which offered one price per gallon. No messy reconciliations and no out of policy transactions to worry about. With electrification, your team have to worry about fast chargers at four times the price or managing reimbursements with energy bills that make no sense or deploying on-site chargers and more. Yet, the EV ecosystem comes with more data than ever before. In this blog, you can learn more about how to leverage this software to automate everything from employee reimbursements to enforcing policies.
The EV expense challenge
Previously, fleet managers relied primarily on fuel cards, which provided comprehensive and exact data for each transaction. However, the landscape has changed dramatically with the advent of EVs:
Diverse charging locations: Employees now charge their vehicles at various locations - at home, public charging stations, office premises, and even at client sites. This diversity makes it challenging to centralize and standardize expense data.
Varying charging costs: Unlike the relatively stable pricing of fuel, electricity costs can vary significantly based on location, time of day, and the type of charging station used.
Home charging complexities: When employees charge company vehicles at home, it becomes difficult to accurately separate business electricity usage from personal consumption, or prevent fraud.
These factors combined create a scenario where fleet managers struggle to obtain precise data on energy consumption and costs, leading to potential inaccuracies in expense reports.
How Guided solves this problem
Guided helps you access all essential EV-related information, including charging sessions, pricing, duration, and mileage to address these challenges:
Direct vehicle data with zero hardware: we integrate directly with most OEMs (Audi, BMW, Hyundai, Mercedes, MG, Polestar, Toyota, VW, Volvo & many more). This allows us to retrieve data directly from the vehicles without the need for additional telematics hardware.
Home charging management: Our system allows you to set up specific electricity rates for each employee, including the capability to handle dynamic pricing. This ensures accurate cost calculation for every home charging session.
Public and Office charging integration: We seamlessly integrate with your charge cards, cross-referencing this data with vehicle information to provide the most accurate and comprehensive charging data.
Benefits of using Guided
Guided helps you access all essential EV-related information, including charging sessions, pricing, duration, and mileage. The benefits of using Guided extend beyond just accurate expense tracking:
Rapid Implementation: our system can be set up and operational within hours, not weeks.
Time savings: both fleet managers and employees benefit from significant time savings. There's no need for manual calculations, sifting through multiple spreadsheets, or for employees to submit detailed reports on mileage and consumption.
Cost control: we help you setup overcharging notification for drivers, or energy spending alerts to ensure all reimbursement are within your company policy
Employee privacy protection: we prioritize privacy by only collecting location data when the vehicle is charging, mirroring the data collection practices of traditional fuel cards.
Fraud prevention: our system ensures that reimbursements are only processed for charging sessions associated with the correct company vehicle.
Ready to revolutionize your EV fleet management? Book a demo today and discover how Guided can improve your expense management in the electric era.
