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Businesses could save at least a day a month in administration time if they switched to using fuel cards, new research has suggested.
According to data from fuel card provider Fuelgenie, a third of UK businesses still operate a 'pay and reclaim' model where employees pay for fuel and reclaim the expense.
Fuelgenie says that UK companies are losing up to eight hours of working time a month processing monthly fuel expenses, which is estimated to lose businesses £1,500 a year in lost employee time.
Statistics from the Federation of Small Businesses suggest that on average UK SMEs spend 33 hours a month on business admin such as tax, insurance, accounts, health and safety paperwork, and fuel expenses.
"With great pressure being placed on UK businesses to work longer and faster, finding ways to work more efficiently is vitally important," said Robert Pieczka, managing director of Fuelgenie. "Switching to a fuel card not only helps save companies money on fuel bills each month, but also a great deal of admin time can be saved as well. Recovering almost one day of working time every month can make a huge different to the level of service a company can provide to its customers and have a major impact on the overall monthly revenue figures as a whole."
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