Comdata Inc. is rolling out a new payments platform for managers of fleets with less than 100 vehicles, addressing a segment it contends is underserved.
Brentwood, Tenn.-based Comdata has introduced MyFleet Program, which includes several different services designed for small fleets’ needs, including negotiated discounts on routine expenses for fuel, hotel stays and truck-scale weigh-ins, tax and compliance tools, plus options to tap short- and long-term capital, the company said in a Nov. 15 press release.
Comdata developed the new platform because it said the majority of interstate fleets have fewer than 100 vehicles, but few tools are available that combine payments plus other aspects of running a fleet business, including industry compliance and administration, Comdata said in the release. FleetCor Technologies in 2014 purchased Comdata for $3.45 billion from Ceridian LLC.
In its own research, Comdata said it found that organizations with small fleets devote about 30 hours of manpower per week to paperwork around tracking expenses, compliance and administrative and fuel taxes.
Comdata’s MyFleet bundles its proprietary payments solutions with existing industry relationships to extend discounts to users from partners including leading fuel merchants, CLC Lodging and Crestmark Bank, with others to come.
“The realities of small-business ownership mean that these fleets have a harder time creating the leverage and scale needed to run their businesses efficiently, especially early on,” said Greg Secord, president of Comdata North American Trucking.