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Concrete Manufacturer Meets Business and Employee Needs with Cardata’s FAVR Reimbursement Program

Imagine the looming frustration associated with managing an extensive ground fleet as part of an internal company car program. Multiply that by the number of insurance policies, maintenance costs, fuel expenditures, and liability issues, and you have a recipe for continuous headaches and administrative overload. Such was the situation for the Vice President and CFO of one of the largest concrete product manufacturers in the U.S.

“It got crazy trying to manage the company car program in-house… it was a problem we had to solve,” states the CFO. The company perceived the intrinsic value of the “company car” as an essential element of employee compensation and a vital cornerstone of its established corporate culture. The objective was clear enough: reduce administrative burdens, minimize risks, and maintain the prestigious “best place to work” status nurtured throughout the company’s history.

Recognizing the enormity of the task, the manufacturer’s executives decided it would be best to transition to a reimbursement program. For the employees to accept the change without viewing it as a compromise on their benefits, the company had to ensure they came out of the transition unscathed financially.

The subsequent search for a vehicle reimbursement program provider led them to choose an industry leader: Cardata. The crux of that decision was Cardata’s ability to devise a fixed and variable rate (FAVR) reimbursement program that sat well with everyone, where individual employees continued to feel taken care of and administrative burdens were eased.

Cardata’s platinum service team designed an adaptable vehicle profile that allowed employees the freedom to own the automobile they desired, keeping the equity in their vehicles intact. An easy online mileage logging system was established, leaving the rest of the minute tasks such as license verifications, reimbursement calculations, periodic payments, and insurance policy reviews to Cardata.

While the transition seemed daunting at first, it wasn’t long before the team embraced it. “People really like the program because it’s very easy to track your miles…”, the CFO recalls. Regularity came in the form of reimbursements deposited on the same date every month while the Cardata Customer Service Representatives provided much-needed guidance and support.

Moreover, the even-handed approach to accounting for unique costs relative to each employee’s location underlined Cardata’s resourcefulness. As the CFO puts it, “Some of the companies we evaluated required very convoluted calculations…”. On the contrary, Cardata simplified the process, demonstrating their underlying commitment to efficiency and simplicity.

The success of this collaboration has stood the test of time, proven by a standing partnership of nearly a decade. The company, in its unwavering conviction, has become an active promoter of Cardata’s services, with the CFO enthusiastically recommending Cardata to any and all business leaders managing a mobile team.

Cardata’s innovative approach has not only alleviated the administrative pressure from the company but also revolutionized the concept of vehicle management, presenting a win-win situation for all parties. By centralizing the processes and ensuring seamless communication, Cardata manages to create a system where the company can indeed say, “Focus on your business. We got this.”

In the contemporary marketplace, where efficient vehicle management is a rare commodity, Cardata’s VRP platform liberates companies, allowing them to focus on their core competencies while leaving the onerous task of vehicle management to the professionals.

For more information about Cardata’s game-changing services, visit their website at www.cardata.co.

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