Strategic Fuel Expense Planning with Jessica Dotson of Multi Service Fuel Card

Freight Nation: A Trucking Podcast

In this episode of Freight Nation: A Trucking Podcast, host Brent Hutto is joined by Jessica Dotson, Director of Business Development and Account Management at Multi Service Fuel Card.

Join them as they explore:

• Jessica’s career journey
• The benefits of using fuel cards
• The importance of having operational savings
• Valuable advice for truckers looking to start their own business
• The need for thorough understanding of all operational expenses.
• The value of understanding overall fuel spend

Jessica Dotson is Director of Business Development and Account Management at Multi Service Fuel Card, who launched the first real-time authorization fuel card that revolutionized fleet management and fuel purchases. She has been with Multi Service Fuel Card for over six years, having previously worked as Director of Account Management, and Manager. Jessica recently joined the Board of Directors for the Women in Trucking Foundation.

[21:56 - 26:26] When Jessica started learning about the trucking industry, she worked for a variety of companies in order to gain experience. For instance, she worked for a brokerage, where she learned what brokers look for in carriers, including insurance, driving records, and communication skills. Jessica emphasizes that building strong broker-carrier relationships is vital. Additionally, to understand cash flow challenges, she worked for a factoring company, where she learned how factoring can be useful for trucking companies that need quick payments in order to stabilize cash flow.

[29:29 - 31:42] Jessica discusses the importance of having operational savings before starting your own business in the trucking industry. She advises having at least a year to a year and a half worth of operational savings to ensure financial stability. Noting how major mechanical failures and health crises are the two main factors that can put truckers out of business, she says that cash flow is crucial, especially during breakdowns or other issues, and having enough savings can prevent financial hardships.

[37:55 - 39:24] Jessica highlights the benefits and pitfalls of using fuel cards in the trucking industry. She notes the importance of understanding the overall fuel spend and not getting too focused on discounts. Jessica also says that fuel cards provide a safer and easier way to pay, as well as the ability to track and plan fuel expenses more strategically—for instance, before using a specialized fuel card, she struggled with time-consuming and complicated reporting processes. She advises choosing a fuel card that is accepted at truck stops—as opposed to general fuel cards, like those from major credit card companies.

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