The U.S. small to mid-sized business (SMB) market is on track to reach $9 trillion by next year. As the market grows, fleet-oriented services will be essential for businesses seeking to deliver their products and services to new markets.
While fleets are essential, operating a network of vehicles can be messy for many SMBs, especially when it comes to reimbursing employees for on-the-job spending. Workforce and spend management tools are being deployed to scrub the inefficiencies from SMBs’ reimbursement processes. The new Workflow Spend Playbook highlights the latest solutions helping SMBs to keep their fleets and drivers operating smoothly.
Inside The Playbook
Several new solutions are being released that are aimed at enhancing companies’ fleet operations to be more cost-effective.
A new collaboration between automotive manufacturer Prometeon Tyre Group and information solution provider GreenRoad Technologies aims to help companies with fleet services find cost-saving opportunities. Under the partnership, Prometeon’s technology will be used to help GreenRoad’s solutions monitor drivers’ activities to find opportunities to reduce fuel costs and traffic-related incidents.
A new solution from software platform Housecall Pro aims to help SMBs with 10 to 50 employees expand their operations. The solution, known as the XL plan, offers customers new features, such as sales proposals, consumer financing, expense management and advance reporting. The solution also allows business owners to set spending limits, and view customized in-depth reports on how funds are being spent.
Logistics solution provider Trimble rolled out a new solution as well for its transportation management system. The solution aims to provide customers with more data insights to help them run their businesses effectively, while the analytics capabilities of the solution are designed to help businesses retain drivers.
As SMBs continue to invest in fleets, fleet managers and business owners face pressure to ensure that drivers are operating smoothly. New services, such as telematics systems, are being deployed to enable fleet operators to monitor costs, track driver activities and manage the costs of their vehicles.
The Playbook’s Deep Dive delves into the tools helping fleets to go the extra mile on the road.
Making SMB Reimbursements Less Messy
When field-based workers encounter work-related expenses on the job, they might reconsider the purchase if they think there will be a delay in getting reimbursed. This could also result in delays for customers, and negatively impact a company’s bottom line.
In the Playbook's feature story, Dale See, president of cleaning service Stanley Steemer of Northern California, discusses how spend management solutions give the company’s cleaning professionals the confidence to do their jobs in the field.
About The Playbook
The new Workforce Spend Playbook, a PYMNTS and Bento for Business collaboration, showcases the shifting landscape of spend management solutions, and how improved services are affecting SMBs’ in-field expense management, back-office operations and bottom lines.