BENEFITS, BEST PRACTISES & PRODUCTIVITY TOOLS
With savings frequently in the hundreds of thousands of dollars, CarData is the vehicle reimbursement program expert.
While many employers and employees have become accustomed to company car programs, the fact is that they are simply no longer an efficient way of keeping people on the road. Company cars require an employer to assume complete financial responsibility for that vehicle, for both business and non-business uses.
CarData regularly achieves direct cost savings of 10 to 30 percent for companies transitioning from a company car program to CarData’s reimbursement solutions. And this savings applies to overall vehicle program costs and program fees, year after year after year.
Streamline your vehicle reimbursement program administration to spend more time focusing on your core business.
With CarData’s vehicle reimbursement programs, businesses can finally get out of the car business, confident in knowing their administration is as efficient as possible. The worry about depreciation and taking a loss when selling used vehicles is gone. And the hassle of vehicle maintenance is a thing of the past with accurate regional repairs built into the fair and accurate reimbursement.
CarData prepares a vehicle schedule for each driver by zip code to determine fair and accurate reimbursement rates. Drivers access their personal rates and update mileage with a personal and secure login code.
Market current – Reimbursement rates are updated on a regular basis. The price of fuel is the most volatile element. CarData tracks prices in hundreds of cities across all states on a daily basis and incorporates the driver’s territory fuel prices in the variable, cents per mile, reimbursement rate.
Policy Support and Design – CarData provides complete vehicle policy review and design, either as a component of a full reimbursement program or as in independent service.
Budgeting Reports – With CarData Online, the monthly and annual reporting capability allows companies to quickly provide updated expense budget information. Details can be broken down to the various divisions and groups that are assignable in CarData. Both fixed and variable costs can be assessed to provide relevant information for better decision making.
Tax Planning – CarData Online will prepare a monthly report detailing any employees that may require a quarterly W2 adjustment. CarData Online keeps track of employee reimbursements and automatically calculates any possible situation that will result in a tax adjustment. This keeps employees informed of possible future adjustments.
Driver Traffic Light System – This best-in-class system visually tells both the driver and the administrator an individual’s status for reimbursement and if further action is required to receive their vehicle reimbursement.
Automated Email Alerts – CarData Online utilizes automated email alerts to keep drivers, managers and administrators on top of their VRP and their reimbursement:
- Mileage entry reminders
- Manager mileage approval
- Automated password resets
- Payment process actions
- Insurance and driver license documents
Transition Services – For businesses moving out of a company provided vehicle policy, CarData provides a transitional program. We manage all aspects of a new program launch including policy design, communication, and a rollout plan to ensure your sales people are onside and have a forum for dialogue.
Simply click through to learn more about the Organizational Benefits of partnering with CarData.