The North American workforce is heavily reliant on vehicles. Over 70% of Americans commute to work by car, and this includes field teams who travel to client meetings or perform on-site services. Managing these vehicle programs, however, can be a logistical and financial nightmare for businesses.
Traditional methods often involve cumbersome fleet acquisition and management systems, navigating intricate IRS regulations, and grappling with manual, disorganized mileage logs. These outdated approaches lead to weeks of wasted administrative hours per year, copious tax inefficiencies, and frustration on both sides of the employer-employee dynamic. Most outdated car programs waste over 30% each year due to financial ineffectiveness, a lose-lose situation for companies and their employees.
“We saw companies wasting time, resources, and money with inefficient vehicle programs, so we took action to become the easiest and most cost-effective solution for companies with employees driving for work,” explained Sheret Ross, CEO at Cardata.
Technology Driven Solutions with a Focus on Customer Success
For decades, managing IRS-compliant field teams using personal vehicles for work has meant grappling with paper logs — time-consuming administrative tasks. This translates to inefficiency, frustration, and potential non-compliance with IRS audit risks for both employers and employees.
Technology-driven solutions, like Cardata, offer a welcome change. Leveraging their 25+ years of experience, Cardata tackles this head-on. Their approach uses automation to streamline tasks like mileage tracking, submission, compliance verification, and direct driver payment using data-driven and tax-free reimbursement strategies. Their expertise ensures programs adhere to IRS regulations, giving businesses the peace of mind they need.
Additionally, Cardata’s platform captures accurate mileage data electronically, eliminating human error and providing valuable insights regarding employee benefits use, productivity, and operational efficiencies through Cloud-based reporting. These technologically driven initiatives and solutions free up valuable time and resources, improve data accuracy, streamline processes, and reduce tax risks from improper documentation. This allows businesses to focus on their core operations while empowering field teams with the tools they need for success.
Cardata prioritizes customer success with dedicated North American Customer Success Managers who work collaboratively to design and manage customized vehicle programs based on customer goals. Clear objective alignment paired with expert knowledge on IRS regulations ensure appropriate reimbursement execution, and build long-term partnerships based on trust and transparency.
Innovation at the Core: Cardata Mobile & Cardata Cloud
Cardata recognizes the importance of technology in simplifying vehicle programs. Their flagship application, Cardata Mobile, paired with their Cardata Cloud reporting platform, embodies their “Design-Capture-Pay” full-cycle philosophy. Their user-centric app streamlines the entire process for both employers and employees through:
- Program Customization: Cardata facilitates the design of personalized reimbursement programs tailored to each company’s specific needs and compliance requirements. This level of customization ensures program effectiveness to budget goals and reduces the risk of errors.
- Automated Mileage Tracking: The Cardata Mobile app eliminates the need for manual mileage logs, a notorious source of inaccuracies and administrative burdens. It leverages smartphone GPS technology to capture mileage data electronically, ensuring data integrity and streamlining expense reporting into the Cloud-based website reporting tool, Cardata Cloud.
- Efficient Reimbursements: Cardata expedites the reimbursement process for employees by automating calculations and paying drivers directly. This, when paired with its in-house compliance and insurance verification team, benefits employees by ensuring timely reimbursement and reducing both administrative tasks and risk for employers.
Cardata’s Leadership and Strategic Investments
Founded by fleet management veterans in 1999, Cardata has experienced significant growth across North America. Their promise to innovation fuels constant improvement, leading to the launch of Cardata Mobile in 2018. This app has transformed the user experience for businesses managing field team vehicle programs.
The recapitalization in 2021 marked a new era of leadership under Sheret Ross and Michael Levine. Their vision has driven organic growth, attracting major clients like Arrow Electronics while solidifying existing partnerships.
Additionally, Cardata recently welcomed Mahesh Nair as the Chief Technical Product Officer. His expertise promises to push product development further, integrating new technology into the platform and ensuring it remains at the forefront of the industry across both service and product efficiencies.
Investing in the Future of Vehicle Reimbursement
Cardata’s vision for a future transformed by technology received a significant boost in 2023 with a $100 million investment from Wavecrest Growth Partners and MassMutual Ventures. This substantial funding validates their efforts to revolutionize the vehicle reimbursement industry, traditionally burdened by inefficiencies.
This investment fuels the ongoing development of transformative products and services designed to streamline vehicle programs for businesses with field teams. The focus is on creating a smoother, more efficient experience for everyone.
As Michael Levine, President of Cardata, aptly stated, “As the world and the companies within it continue to modernize and digitize their business operations, work-related mobility cannot stay stagnant. Cardata is working towards eliminating the pain associated with outdated and unaccountable driving programs. We can no longer think of company vehicle programs as sunk costs or solely as requirements for day to day operations. Businesses must leverage modern SaaS solutions to ensure both employees and their employers are getting the most out of their company vehicle programs.”
A Mobile Future for Field Teams
The reliance on vehicles for field work is here to stay, but managing these programs no longer needs to be a logistical and costly headache. Technology-driven solutions like Cardata offer a glimpse into a future where the outmoded mileage log, taxable car allowance, and risky company car meet their match.
By leveraging automation and prioritizing a customer-centric approach, Cardata grants businesses peace of mind. This shift not only gives back valuable time and resources but also paves the way for a more engaged and productive mobile workforce.
As technology continues to evolve, Cardata’s dedication to innovation leads the way toward a smoother, more efficient future for all growing businesses. That’s the future of driving for work: a world where every company in North America is enabled to run optimized, cost-effective, fair, and compliant vehicle reimbursement programs.
