I won’t get into what FAVR (Fixed & Variable Rate reimbursement) is, because if you have searched for it and gotten this far I’m sure you have been in the weeds regarding its usage and benefits as a Mileage Reimbursement plan.
What I want to talk about is how at Kliks we make FAVR easier and simpler to use than anybody else. The question is why do companies make it out to be complicated/complex in the first place? After all the IRS has published a very detailed instruction manual (almost) about when and how to use it. The obvious answer is so they can provide expensive consultative services around Rates, Program configurations, and associated data and reports, etc. Not to forget multi-year license contracts tying you to an inferior product/service.
None of this FAVR stuff is rocket science and almost all of it can be simplified with a combination of robust source data, a well-engineered calculation engine, a rules engine that uses the IRS manual, and a great user experience. Sounds simple right? So to prove this we are actually publishing our methodology and user interfaces for program configuration for all to see and even demo or trial. If someone decides to copy us, by all means, go ahead, we think together we will be able to deliver a transparent system for a fraction of the cost you have been paying all this time. And yes, this includes Mileage Tracking, FAVR configuration and calculations, Trip Detail reports, Tax Reports, and everything else you have always needed for effective Mileage Reimbursement.
So going forward let’s understand FAVR for what it is. It’s just another simple IRS-approved Mileage Reimbursement program similar to IRS Safe Harbor rate-based CPM that was hitherto made complex by companies who just wanted to charge a lot of money for it. It just needed someone to come along and disrupt the business model. That’s why we are here, to bring you a better product, for cheaper.
For more on our FAVR product contact us or just look at our FAVR Product page
Hope to see you using our product soon!