Introduction. Table of Contents

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2 Introduction To stay competitive, you know how important it is to find new ways to streamline and save on your company s operations. Learning how leading companies handle commercial payments can give you deeper insights into where and how you can improve. Help you understand how to run your Procure-to-Pay processes more efficiently. Enhance visibility into corporate spend. Gain better control and compliance. And ultimately, help enable you to add more profit to your bottom line. Visa commissioned Deloitte Consulting to conduct 90 in-depth interviews in with more than 60 global/multinational, mid-size and large corporations as well as federal and local government agencies across the world. In 2010, Visa commissioned Deloitte Consulting to update each of the following 28 Travel and Corporate Card Best Practices from the comprehensive study to include current trends, updated case studies, and additional key findings. See the section entitled Study Methodology for additional detail. The Visa Global Procure-to-Pay and Commercial Card Best Practices Study describes how these organizations implement and optimize their Procure-to-Pay processes and commercial card programs. The study gives you access to best practices for a variety of topics: Maximizing the benefits of purchasing and corporate card programs. Streamlining travel and entertainment management. Taking advantage of the latest innovative best practices. And automating the entire Procure-to-Pay process. Each best practice is divided into three useful sections a recommendation overview, a benefits outline and steps for implementation so you can quickly find the information you need. For more information on the Visa Global Procure-to-Pay and Commercial Card Best Practices Study, contact your commercial banker. Table of Contents Conduct Strategic Sourcing and Institute a Travel Supplier Management Program Study Methodology Note: Survey results, research and practice recommendations are intended for informational purposes only and should not be relied upon for marketing, legal, technical, tax, financial or other advice. When implementing any new strategy or practice, you should consult with your legal counsel to determine what laws and regulations may apply to your specific circumstances. Visa is not responsible for your use of the information, including errors of any kind, or any assumptions or conclusions you might draw from its use. Much of the information contained in this document applies internationally, but a certain amount of information applies only to certain countries or regions. Although Visa tries to mark all country- and region-specific information with a country indication, it does not warrant or represent that all information without indication applies internationally. You should check the applicability of any information in this document to you or your organization.

3 Conduct Strategic Sourcing and Institute a Travel Supplier Management Program Leading companies have centrally administered, corporate-wide Supplier Management Programs to guide the selection and on-going management of suppliers. While these programs are typically centrally administered, leading organizations also ensure the program efforts are supported by the business units and employees that interact with the suppliers. Best practice organizations use cross functional teams of representatives from Procurement, Accounts Payable, and business units to develop their Supplier Management Program. These programs typically consist of the following components: Program objectives A formal Supplier Management Program should include strategic and financial goals such as the number of contracted suppliers or the number of preferred suppliers per spend category. In addition, organizations also establish financial goals such as the percent of spend under contract or the average supplier discount by spend type Leading organizations have at least two preferred suppliers per spend category to maximize competitive pricing, increase incentives received, and distribute supplier risk. Formalized sourcing practices - Leading companies have instituted formal sourcing practices to select preferred travel suppliers. Management actively encourages use of preferred suppliers to take advantage of negotiated rates and achieve enterprise-wide cost savings. Travel Managers apply procurementbased techniques to travel supplier sourcing, such as supplier consolidation, request for proposals, and establishment of service level agreements. Strategic sourcing techniques, which are based on continual improvement and reevaluation of suppliers, are being applied to travel procurement. When selecting suppliers, leading companies typically send out request for proposals (RFPs) to multiple travel suppliers. From the responses received, Travel Managers select the suppliers that can deliver the services to best suit the company s and individual business traveler s needs, at the preferred pricing.1 Contract term guidelines Contract guidelines help Procurement and business units negotiate contracts that align with organizational procurement strategy and policies. Typical contract guidelines include instructions for when to utilize volume guarantees, criteria for determining contract length, payment terms, discount percentages for early payment, and service level requirements Contracted/preferred supplier criteria Leading organizations also ensure that criteria exist to determine minimum standards for contracted and preferred suppliers. Organizations typically use the following:product criteria (e.g., product quality, quality of service) Service level criteria (e.g., percent of on-time shipments) Fully-loaded cost of doing business (e.g., freight costs and taxes) Technological compatibility with organization (e.g., support for automated ordering, invoicing, and reporting systems)collaboration expectations (e.g., order tracking, inventory levels, demand forecasting, and input into product design process)payment method acceptance and process (e.g., commercial card acceptance and EIPP compliance)payment terms (e.g., discounted rates provided, percentage discount for early payment)additional special perks and 1

4 privileges (e.g., access to priority seating) - Product criteria (e.g., product quality, quality of service) - Service level criteria (e.g., percent of on-time shipments) - Fully-loaded cost of doing business (e.g., freight costs and taxes) - Technological compatibility with organization (e.g., support for automated ordering, invoicing, and reporting systems) - Collaboration expectations (e.g., order tracking, inventory levels, demand forecasting, and input into product design process) - Payment method acceptance and process (e.g., commercial card acceptance and EIPP compliance) - Payment terms (e.g., discounted rates provided, percentage discount for early payment) - Additional special perks and privileges (e.g., access to priority seating) Commodity/spend type management Once the suppliers are selected, organizations use cross functional teams to manage the supplier relationship and renegotiate with suppliers at regular intervals. The teams are organized by commodity or spend type, which allows them to develop deep knowledge and experience within a certain commodity and supplier base Leading companies are also increasingly considering the corporate social responsibility efforts of suppliers during the selection phase by favoring suppliers with eco-friendly initiatives and adopt green processes. In addition, virtual solutions, such as webinars and video conferencing, are experiencing cautious adoption as the solutions become viable green alternatives to traditional travel for certain situations. "By capturing twice the amount of indirect spend on commercial cards, top-performing firms have not only achieved significant bottom line savings, but also drove compliance and reduced procure-to-pay cycle times." -Research Analyst at Aberdeen Research "Commercial Cards: Delivering Savings Across Procurement and A/P," Aberdeen Group, December 2008 Specific supplier behavior varies, depending on type of service offered and regional standards, but in general the following are best practices to renegotiating supplier contracts: In difficult economic times, suppliers become more concerned with customer retention, and thus Travel Managers renegotiate with suppliers more frequently to take advantage of the offered discounts and improvements in customer service. In most robust economic times, Travel Managers carefully survey the available suppliers and lock in the lowest rates for longer durations, whenever possible. This allows Travel Management to offer business travelers the best rates and travel options while reducing pricing volatility.2 2

5 *Source: Deloitte Consulting Analysis, 2010 One multinational technology company conducted spend analysis to implement a Supplier Management Program in order to optimize its number of suppliers. The company prioritized the implementation of its supplier management strategy based on the overall size of the spend categories and their strategic value. Primary targets for supplier rationalization and management included suppliers and spend categories supporting the core business while secondary targets were comprised of non-strategic spend types such as office supplies. Suppliers were evaluated based on their adherence to specific contract terms and performance which included the number of returned shipments and the percent of incorrect invoices received. Successfully implementing a Supplier Management Program requires the support of senior management as well as the organization as a whole. With the support of its senior management, one U.S. technology company reduced the number of suppliers by over 80 percent through the establishment of a Supplier Management Program. Procurement collaborated with representatives from each business unit to understand their long and short-term supply needs. All current suppliers were identified and evaluated based on their strategic value to the business unit and their ability to meet current and future procurement technology and procedural requirements such as acceptance of purchasing cards and their ability to integrate with the company s e-procurement system. Procurement and business unit representatives evaluated the 3

6 suppliers that met the required criteria as well as the estimated cost savings from rationalization and established formal contracts with the agreed upon suppliers. Organizations conduct periodic reviews of their Supplier Management Programs to track performance and ensure the goals and objectives are aligned with organizational needs. As Supplier Management Programs often take time to fully implement, best practice companies often align Supplier Management goals with long-term organizational objectives. Visa provides various tools to assist companies with supplier analysis. The Visa Supplier Matching Service analyzes a company s supplier base to identify Visa-accepting suppliers. TheVisa Accounts Payable tool analyzes a company s spend to identify opportunities for supplier payment by card. For more information, please contact your issuer. 1 For more information on the supplier management process, please refer to the Visa Procure-to-Pay Toolkit. This resource provides detailed information regarding supplier evaluation and on-going supplier performance tracking and management. Benefits Formalizing a Supplier Management Program offers a number of benefits for best practice organizations. Category Cost Savings and Process Efficiency Benefit Obtained Supplier Management Programs enable negotiation of increased supplier discounts due to consolidated spend and improved process efficiencies through increased supplier alignment with efficient order and payment methods. Supplier Management Centrally administered, corporate-wide Supplier Management Programs guide the selection, optimization and on-going management of suppliers across the organization. User Satisfaction Incorporation of user feedback into supplier performance evaluation and simplification purchasing options through a rationalized supplier base enhance user satisfaction. Implementation Steps There are a series of actions steps which are necessary to implement a Supplier Management Program. 4

7 # Description of Action Step 1 Work with key business unit stakeholders and senior management to define company objectives, scope, and expected benefits for the Supplier Management Program 2 Present formal Supplier Management Program to senior management to obtain program buy-in 3 Create cross-functional team of key stakeholders to develop the Supplier Management Program components such as supplier performance criteria and contract term guidelines 4 Select initial commodity-types to target for spend and supplier analysis 5 Rationalize suppliers based on analysis and key stakeholder approval 6 Monitor contracted and preferred supplier performance and renegotiate contracts as needed 7 Continue to extend analysis and supplier rationalization to additional commodity-types according to defined Supplier Management Program objectives 1 Procurement Practices 2010, Business Travel News, Deloitte Consulting Analysis, The tools are available in the U.S., Canada, and select other markets. For more information, please contact your issuer. 5

8 Study Methodology The objective of the Visa Procure-to-Pay and Commercial Card Best Practices Study was to better understand the changes in the segment and to gain a comprehensive understanding of best practices across the Procure-to-Pay process and within the commercial card program. Visa commissioned Deloitte Consulting to conduct 90 in-depth interviews in the summer of 2007 with more than 60 global/multinational, mid-size and large corporations as well as federal and local government agencies across the world. In 2010, Visa commissioned Deloitte Consulting to update each of the following 28 Travel and Corporate Card Best Practices from the comprehensive study to include current trends, updated case studies, and additional key findings. The evaluation of the Procure-to-Pay process included sourcing, order placement, payment and settlement, reconciliation, control and audit, and reporting activities. For the commercial card management process, the assessment focused on practices related to the purchasing and corporate card program strategy, management, and reporting. Interviewees included Regional Controllers, Chief Procurement Officers, Directors of Strategic Sourcing, Procurement Managers, Accounts Payable Managers, Global/Regional/Local Commercial Card Program Managers and Travel Managers. Study participants had a range of commercial card programs in place including purchasing card, corporate card and commercial one card programs with each of the top three card providers: Visa, MasterCard and/or American Express. 6 STUDY METHODOLOGY

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