UK Fuels’ online fleet management tool Velocity allows fleet operators to quickly and easily manage all aspects of fleet admin, including resolving employees’ fuel expenses and claiming back fuel VAT. It combines data from fuel cards, telematics and corporate charge cards to give complete oversight of a fleet in just seconds.

According to the Centre for Economic and Business Research (CEBR), small businesses waste up to 28 hours each week on dealing with administration and red tape. If this time was spent on growing the business instead, an extra £4.7bn could be added to the UK economy.

In response UK Fuels is challenging businesses that operate vehicles to see how much they can slash the time spent on admin associated with operating their fleet.

Group marketing director, Jakes de Kock said: “We’re asking companies with a fleet of two or more vehicles to look at how much time they’re spending on things such as reimbursing driver fuel expenses and claiming back VAT on fuel purchases, and considering what else they could be doing with that time – I suspect most would be looking at how to grow their business.”