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Ditch the Paper Trail With Purchasing Cards

September 16, 2016
Eric Rietschel
Eric Rietschel

Controlling and managing your company’s expenses and employees' credit cards can be a huge thorn in your side –and the more your company grows the more painful it can be. With today's focus on improving working capital management and payment control, organizations of all sizes are implementing Purchasing Card programs as a way to streamline payment processes, improve cash flow, increase control over their payment program, and enhance fraud controls. 

 

 

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A purchasing card program can speed up your payment processes by automating payment authorizations while automatically supporting internal policy and control environments. Travel expenses, toner cartridges, lunch with prospective clients... your employees can use purchasing cards for nearly everything, and your organization can save up to $70 per transaction by switching to a purchasing card program. In fact, Purchasing Card usage in North America generates over $44 billion in savings every year. 1

 

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Controlling your card program in real-time is easy through our secure web portal where you can issue new cards, adjust individual spending limit, and view transaction data all without ever having to call into the bank. This web portal is available on any computer, mobile phone, or tablet which allows you to manage your program from anywhere.

 
According to the Association for Financial Professionals, 87% of organizations affected by payment fraud reported that checks were the targeted instrument. By migrating to electronic payments and digitizing the supply chain, you can eliminate paper checks and check fraud. EMV chip technology also provides an extra layer of security. Plus, a secure online management site gives you access to a full suite of reports to make reconciliation a breeze.

 

So, how do you get rid of the paper trail and move towards electronic payments via a purchasing card program?  Our bankers will listen to your unique payments processes and your organization’s needs to help design a purchasing card program that provides greater productivity, reduced costs and lower risk all while simplifying the B2B reconciliation process.

 

If you want to stay in control of your payments, check out our Purchasing Card Program

 

1 Potential savings as reflected in the 2014, 2012 Purchasing Card Benchmark Survey, RPMG Research, which includes hard- and soft-dollar savings from streamlined processing, operational costs and time.