This video explores how COVID-19 is changing the industry's perception toward driver reimbursement; the change in fleet employee demographics and what this might mean for reimbursement programs; and the types of industries and companies that are more predisposed to offer reimbursement and why.
As companies look for best practices and opportunities to create more efficiencies in fleet management, they should also look at the trend away from vehicle ownership to develop tools to apply in context of commercial fleets.
Consistent education and monitoring of driver behavior can help prevent potential liability issues.
The recent U.S tax law changes created a problem for employers who use a non-accountable vehicle reimbursement plan. Negative feedback has some companies reconsidering the viability of offering company-provided vehicles to help key employees mitigate the adverse impact of eliminated tax deduction.
International Data Group's CIO has named Wheels, Inc. as a recipient of the 2017 CIO 100 award that recognizes 100 organizations around the world that have distinguished themselves by creating business value through the effective and innovative use of information technology.
There are four types of driver reimbursement models: IRS business mileage reimbursement rate, a fixed allowance, the Fixed and Variable Reimbursement Rate (FAVR), and a hybrid model that uses the FAVR guidelines but delivers the driver payment in a cents-per-mile model.
While fleets typically gravitate toward company provided models, there are legitimate reasons they might want to consider utilizing a reimbursement program. However, there are a number of caveats fleets should consider.
Fleet managers often must deal with a number of so-called “vehicle experts” within the company, sometimes including those who hold senior management positions. Here’s how to deal with the unrealistic ideas they propose.
While executive fleets are small in size compared to the rest of a company’s fleet, they present opportunities and challenges. Despite these challenges, executive vehicles still have a place in today’s operational landscape.
While expense fraud related to mileage is often unintentional, whether it’s deliberate or not it can cost companies with fleets millions of dollars in overpayments. The good news is there are simple ways to combat it.
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