Trucking industry company increases driver satisfaction up to 80% with Pegasus One EFS solution
TRUCKING INDUSTRY COMPANY INCREASES DRIVER SATISFACTION UP TO 80%
Achieving better transparency and reducing stress on individual drivers
With logistics and transportation occupying the front lines of the US supply chain, easing financial burdens on small trucking firms and their drivers is business-critical. To achieve better transparency and reduce stress on individual drivers, a logistics and brokerage firm needed to upgrade the purchasing and expense processing systems used by its customers.
Lack of insight and control leads to financial stress
Launched in 2020, the Indiana-based company invests in trucking companies worldwide. It also provides logistics and trucking services to small trucking businesses, including financial backing, risk management support, and IT services. The company’s reimbursement process for expenses like fuel, repairs, and equipment had become challenging. There was a significant lack of security, insight, and control around fuel purchases and non-fuel transactions, and the out-of-pocket costs of fuel and vehicle repair expenses were causing financial stress for the company, its customers—and their drivers.
The company needed to simplify the way its customers and their drivers executed business-related transactions, and to make the reimbursement process faster and easier. They also wanted to have better insight into the data analytics around these transactions in order to identify areas of potential waste and uncover business trends and opportunities. The company turned to Pegasus One for advice and came away with a solution that made everyone happy.
Pain-free reimbursement and expense management
The Pegasus One team developed and implemented an Encrypting File System (EFS) card solution to resolve issues and make business expenses and reimbursement less painful for its customers. Accepted at more than 14,000 locations across North America, EFS cards offer convenience while also enabling control and security over fuel, cash, and non-fuel transactions.
By consolidating purchases and expenditures onto one card and account, EFS cards make reporting and reimbursements faster, easier, and more accurate. And having everything mapped to a single account enables customers to qualify for volume pricing and discounts that are not available to individual purchasers.
A web-based multitenant app
Easy management, powerful insights
Designed to integrate with the company’s existing SaaS platform, the EFS solution investment began paying off quickly. Being able to access the account from any internet-enabled device enabled them to manage the account and end users, and easily set purchase limits for customer expenses.
Providing a single source of analytics for user, fleet, and expense data, the company had access to information that enabled them to identify trends that helped them optimize business operations. They were also able to gain insight into data analytics based on driver ID, unit number, trip number, and odometer readings. Working with truck telematics data, the EFS solution became a powerful ally in identifying security risks and preventing fraud.
Decreased fees for lost and/or untrackable freight estimated at more than 80%
Reduction of out-of-pocket expenses and faster expense reimbursement increased driver satisfaction by up to 80%