Coast

💵 How easy is it for construction businesses to approve, track, and reconcile their employee fleet and field expenses? 📞 61% of recent survey respondents are using manual processes (e.g. phone calls) to review spending in real time. Only 25% use a software-enabled process, and a full 13% don’t have a process at all. 🗣 To learn more about fleet and field expense management practices, we surveyed 200 construction company employees with responsibility for managing or reviewing field spending. Here's what we found:

Since we introduced Coast's cutting-edge expense management platform and charge card, we’ve seen the outsize impact these tools have for real-world businesses. Today, we’re excited to share that Coast has raised $40 million in new Series B financing, led by ICONIQ Growth. Read more from Coast Founder and CEO Daniel Simon: https://lnkd.in/eTjbrTRY

See how Cover Care, LLC, a pool service provider operating nationwide, unlocks exclusive discounts with Coast and Discount Tire 💸 ⛽ 🚗

"In today’s economy, can any HVAC contractor really afford to not save money?" 💸 ACHR NEWS spoke to experts from ServiceTitan, Coast, and Lee's Air, Plumbing, Heating, & Roofing (a 100 vehicle HVAC fleet based in Fresno, CA) about best practices for keeping HVAC fleets running smoothly. “As an HVAC, plumbing, and roofing business owner, managing our fleet of over 100 trucks is critical to ensure operational efficiency, meet customer needs, and optimize our bottom line,” said Kathryn Howard, CEO and co-owner of Lee’s Air. “Recently, advancements in technology and economic factors have made fleet management even more essential and cost-effective. We rely on regular maintenance, GPS tracking, driver training, and leveraging smart technology to keep our fleet running smoothly.” 🚚 Daniel Simon, founder and CEO at Coast, adds: "“Having all these different components in your software toolkit, and having them integrate well together, really helps you save a lot of time and save a lot of money and focus more on growth." 💳 ⛽ Head to the comments for the full article ⬇

⛽ Some telltale signs of fuel theft: - Purchasing more fuel than a vehicle’s tank can hold - Noticeable drop in fuel efficiency - Requiring more fill-ups than a route has historically required 💡 A little-known feature that helps prevent fuel theft: tracking fuel tank capacity When you add your vehicles' fuel tank capacity to Coast’s fuel card software, you can create an additional layer of visibility and security for tracking your fuel spend. Connect to your telematics system for even more protection, like automatically declining transactions outside authorized zones. https://lnkd.in/eKmtsGfh

It may be summer, but the team is ready to #bringonthesnow in Pittsburgh for the 27th annual Snow & Ice Management Association Symposium! Daryn Goldstein Jacob Rahimzadeh 

You might be using a fuel card today, but how protected are you from fraud, really? Between fueling of personal vehicles, card skimming, or drivers sharing PINs with each other, older generation fuel cards can still be hacked, leaving you on the hook for the bill 💸 At Coast, we believe we’ve built an ultra-secure fuel card, and we stand by that: when you use Coast's unique security features, your account is protected against unauthorized fuel purchases, internal or external, up to $25,000 per year 🔒 For more detail on Coast's Fuel Fraud Guarantee, visit: https://lnkd.in/e8-wF8FU

A smart fuel card feature customers like DynaServ Florida, LLC love 👉👉 Telematics integration By connecting your fuel card to your telematics software, you can ensure timely and accurate fleet data, and block unauthorized transactions in real time: ⛔  Block transactions outside a set geofence Use your smart fuel card and telematics devices together to protect against fuel fraud and loss, like fueling up personal vehicles on the company dime ⛽ Accurate MPG for every driver and vehicle Identify fuel-efficient driving habits and identify any potential issues that may be causing poor fuel efficiency, since every transaction is reconciled with the right card, driver, and vehicle 📊 Automatic odometer collection Collect odometer readings for every vehicle in your fleet, eliminating the need for manual data entry (and the user errors that go with it) If you're wondering what else you can do with a smart fuel card, read on 👀 https://lnkd.in/e42S5DMq

Tomorrow! Join Coast and Azuga, Inc. at 1pm ET to learn how profitable businesses with growing fleets maximize fuel savings. 📊 Collect accurate and timely fleet data ⛔ Set up geofencing to block unauthorized transactions in real time 🔒 Get greater protection against fraud with Coast's fuel fraud guarantee Register here: https://lnkd.in/eVs9M6He

Some sobering stats on expense reports, according to the survey linked below: 🕓 20 minutes: Average time to complete an expense report ❌ 19%: Percentage of expense reports with errors 📝 18 minutes: Average time to correct an expense report https://lnkd.in/eUtsMHSB We surveyed 200 construction companies on their field spending and expense management processes, and found that many are dealing with non-compliant spend, despite ongoing efforts to communicate spending policies. And not to say that this happens at *your* company...but did you know that 85% of employees have admitted to lying on expense reports? According to this survey from PYMNTS: https://lnkd.in/ewB9UwAR We'll just leave the full survey results here: https://lnkd.in/gHZ6ryx5