commercial card implementation guide

Transcription

1 commercial card implementation guide 1

2 table of contents 4-5 Keys to a successful program Program construction Program rollout 6 Program support cardholder vs. admin 7-8 Expectations & Timelines Pre-planning / analysis Training and launch 9 Making a payment 10 Lost/stolen cards 11 Line increases cardholder company 12 Statement types 13 Ownership and Admin changes 14 Fraud prevention 14 Visa Liability Waiver Program Visa Commercial Card Benefits 2

3 Congratulations on choosing us for your commercial payment card needs. Whether you chose our One Card solution where you have the features of a Corporate Card (travel and entertainment), Purchasing Card, and Fleet Card all in one powerful piece of plastic or our traditional Business Credit Card we offer you a wide array of tools and assistance to make your program a success. Control is a key priority for companies such as yours. With our Commercial Card program, you are able to manage separate controls through monthly and daily spending limits, supplier types, transaction amounts, and more to customize your program to meet your needs. Having access to the information and reports required to effectively and efficiently run your business is critical and what turns data into information is our powerful reporting tools. Our commercial card online account management and expense management tools make accessing, managing, and reporting for your program an efficient and easy to complete task. 3

4 keys to a successful program It is very important that your organization spend adequate time building your employee card program before issuing cards. Having processes and policies in place along with creating clear communications to cardholders are proven keys to launching a successful card program. We can provide in-depth materials around best practices, but nobody knows your organization like you do. Below you will find a high level overview of the keys to a successful program. program construction Engage support from management Set realistic goals Identify and quantify savings and efficiency opportunities Outline the benefits and expectations from the program Acknowledge the challenges and unknowns and prepare options to address them Achieve acceptance and support from ownership or management Assign a dedicated program administrator A critical step in the process is designating one individual with primary responsibility for managing the card program. This person will need to dedicate time to the initial set up and ongoing oversight of the program to insure the maximum benefit to the company. Frequently this person is in the accounting, finance, or purchasing department, but it may vary from company to company. Although your organization may not have the resources to dedicate someone full time to this role, it is important to commit sufficient time to the planning and implementation process to insure a smooth process. Create clear policies and procedures Who will get cards? What will the limits be? Is there an agreement cardholders must sign. How are cards paid? What transactions are authorized. How will we handle problems? These are just a few of the questions that help define program policies and procedures. Creating, refining, and communicating these help the cardholders understand the program and how a card is properly used. We provide a few samples in the appendix of this guide. Use technology To get the most from your card program it is important to simplify your processes through technology. Review the reporting information in this manual to take full advantage of the tools we provide. Additionally, many accounting systems can directly integrate card feeds and expense processing, making reentry or complicated downloads unnecessary. Ask you banker about these tools. Many third party systems are available to integrate automated expense reimbursement, card reconcilement and payments together into one easy to use platform. 4

5 program roll out Pilot, test, then fully implement You may want to test your program on a smaller audience before rolling out organization wide. This allows you time to refine and modify the program for optimization. Select a few cardholders with frequent transactions and those that you know will provide vocal feedback. Once fully tested, many organizations will roll out in a lump sum while others find a phased approach most beneficial. It s up to you. Expand card usage Now that the initial card program is up and fully functioning, begin to look for other opportunities to increase efficiency and expand the program. Target small dollar invoices with a purchasing card Maximize your fleet or vehicle management through a fleet card Issue cards to all employees who need cards Seek peer analysis and best-in-class examples to benchmark your performance Evaluate your program and adapt It s important to look back and evaluate the program. Celebrate the success and address any short comings while continually setting new targets and objectives to make it a better experience for the cardholders and your organization. 5

6 program support cardholder vs. admin bank support We re here to support your program in many ways Program Administrators: Program administrators and support staff can contact our credit card department during normal banking hours for program support. Our staff can assist with card and program questions, reporting tools, along with other administrative support needs. Phone: Cardholders: Cardholders should be directed to our customer service number or website for balances, statements, transaction information, disputes, and lost or stolen cards. Phone: Website: umpquabank.com outside support National Association of Purchasing Card Professionals (NAPCP) is an industry association that provides in-depth resources and support for commercial card programs. They also offer certification (CPCP) for those individuals involved in managing corporate, purchasing, and fleet card programs. Membership is reasonable and provides access to their knowledge base. If you need additional assistance, many organizations and consultants are available to assist with card program implementation. Contact the credit card department and we will be happy to provide a number of options for your selection. 6

7 expectations and timelines Card program implementation can vary depending on size, integration, and reporting tools. Most Business Credit Card programs are implemented over a 1- to 6-week period and may not require any additional assistance from the bank. Commercial card programs generally take 4-12 weeks or longer. A complete Guide to Creating a Successful Commercial Card Program can be found on our resource site. The primary program administrator for your organization will be the individual who controls the implementation process and overall design of the program. They will be the main contact point for the bank and will be responsible for insuring implementation tasks within your organization are completed. The Bank s role is to provide the program administrator and team with the tools, training, and support needed to launch their program. The Company and Program Administrator s role is to coordinate activities within the company, formulate the project plan, and execute the program launch through effective communication and training to employee cardholders. Pre-planning/analysis Taking the time to plan will save hours of work later on Hierarchy: Card programs can be structured to match the company needs. This could be a mirror of the organizational structure or perhaps matching functional channels like sales, operations, administration. Sometimes branch structure or geography may also influence hierarchy. Our team can work with your organization to help define your structure needs. First, we determine what your reporting needs are and then build the hierarchy. Card issuance: Whether initial cards are issued in one lump group or phased, our team will help make sure the initial issuance is timed to meet your needs and cards are delivered to the correct locations. Cards are issued upon your request and generally take 7-10 business days to be received. Online tools Commercial cardholder login A website where the individual cardholders can register their card to see transaction history, balances, card availability, and card statements. Cardholders can make payments to their card and also set up transactions, balance, and payment notifications via and text messaging. 7

8 Commercial card online management & reporting An on-line tool for program administrators to manage all cards within the Program that provides the ability to see all cardholders and their transactions, activity, and statements. Payments to cards can be made or scheduled. Maintenance abilities include changing card limits (both temporary and permanent), closing cards, temporarily suspending cards, and other features. New Cards can also be requested. Commercial card expense management A powerful data analysis and expense reporting tool available to our Commercial Card program. Intellilink helps your organization analyze and review transactions by providing preset and customized reporting of transactions that turns data into information you can use. Customers needing a tool to process expense reports can also use the integrated expense management tool. Information from Intellilink can be downloaded in many formats and imported into other systems for reporting or integration. Business online banking Limited access to cards is provided through Business Online Banking tool. Card balances and availability can be viewed based on prior business day. Depending on your access and account types, some payments between Umpqua checking and cards may be available. I want to... Cardholder Login Management and Reporting Login Expense Management Basic Expense Management Premium Review transactions P P P P Open, close, status, or maintenance cards Analyze cards, vendors, payments, and spend Make a payment to a card P P P P Customization is possible Review or download monthly statements P P P P Expense reporting system Schedule alerts Build and save spend and transaction analysis templates Download transactions in CSV or excel format Temporary holds on cards P P P limited limited P P We offer the ability to directly feed card transaction activity into many 3rd party accounting and expense management applications. If you utilize a major third party system or are considering one, contact our credit card depart to confirm availability of a file feed directly to your partner. 8

9 making a payment Commercial card online management & reporting: Online payments are the safe and easy way to pay your credit card bill online. Your company administrator has the option to pay the company credit card payments using Umpqua s ez Business Card Management system. Payments submitted by 11:00 a.m. Pacific Time will be credited to the account at midnight the day the payment was applied. Payments submitted after 11:00 a.m. Pacific Time will be posted to the account the next day at midnight. Commercial cardholder login: Employees have to option to make payments to their individual card using Umpqua s ez Card Info system. The same cutoff times apply as outlined above. Business online banking: Business Online Banking can be enabled to make credit card payment transfers from your Umpqua deposit accounts. Payments submitted by 1:00 p.m. Pacific Time will be credited to the account at midnight the day the payment was applied. Payments submitted after 1:00 p.m. Pacific Time will be posted to the account the next day at midnight. In store: Payments may be made at any of our branches using the payment coupon received with the monthly bill. Payments may take up to 2 business days to post. Electronic or batch payments: To avoid late payments and manage your payment process more efficiently you can request to setup monthly electronic payments from your business checking account. Please contact the Credit Card Department for further information on how to establish this service. Bill pay: Pay your credit card account on a recurring or one-time basis using Bill Pay option. When creating your payee profile enter the following information: Payee name Umpqua Bank Address: P.O. Box 2310 Spokane, WA Credit card number: The credit card account number to be credited By mail: Check or money order along with the payment coupon can be mailed using the self addressed envelope provided with your bill. By express mail: Umpqua Bank Credit Card Services 507 N Mullan Road Suite B Spokane Valley, WA Customer service pay-by-phone: A payment may be applied over the phone by calling Payments submitted by 11:00 a.m. Pacific Time will be credited to the account at midnight the day the payment was applied. Payments submitted after 11:00 a.m. Pacific Time will be posted to the account the next day at midnight. A $10.00 processing fee applies. 9

10 lost and stolen cards, disputes, and fraud Lost or stolen cards: If your employee loses a card or has it stolen, they should report it immediately to The operator will review recent transactions and make sure there has been no unauthorized activity on the card. They will then block the card, issue a new card to the cardholder, and transfer the current transactions to the new account. Disputes: Most frequently a transaction may show on the card that is unauthorized and from an unknown source. Other times it may be due to non-receipt of merchandise or differing transaction amounts. The process is the same for either: Call to begin the dispute process Some disputes will be handled quickly, while others may take time to work through Some disputes may indicate fraud on the card and result in a new card number issued to the cardholder Administrator status tool: A temporary block / status may be placed on a card by a company administrator through the online management and reporting system. An employee is not currently using the card, has not yet had the card assigned, or is on extended leave The organization is temporary revoking the employee s charge privileges The employee may have lost the card, but wants to check before placing a permanent block on the card Tips for handling and avoiding fraud: Review your statements timely Avoid shared or department cards: Assign a card to each individual who needs one, even if their need is only periodic Status or close cards that are inactive or no longer needed Build templates to review transactions and look for fraudulent transactions or patterns Utilize MCC restrictions where appropriate. These help insure your policies are adhered to while also helping to prevent fraud 10

11 line increases/decreases Cardholder line changes: Each cardholder is assigned an individual credit limit and limits should be established considering monthly spending needs, incorporating a small cushion to allow for months with higher spending needs. As an administrator you have the ability to change cardholder limits through online management and reporting system. Company increases: Generally we suggest establishing a company credit limit that allows for program and company growth over the next months. If you find your company line requires an increase you can request this through the credit card department or directly with your relationship manager. The bank requires 2 years of financials and any available interim financial statements since the most recent year end. Additional documentation may also be required. 11

12 statement types: individual billing vs. central billing Two billing types are offered through Commercial Card program and each has unique features that are important to understand. Individual billing: Similar to a consumer credit card, each cardholder receives a monthly statement and is responsible for paying the amount due on their individual card. Some companies may pay the bill directly after the cardholder submits an expense report, while others reimburse the employee directly and the employee is responsible to insure the card is paid. Either way, each card with a balance must have a payment applied to the individual card monthly. Benefits: Each cardholder maintains responsibility for their own card A late payment will not impact other cardholders at the company A mid-cycle payment is applied to the balance and affects available credit Challenges: May require more administration to insure cards are paid timely Unpaid balances by employees may result in company liability Central billing: Centralized billing is where all cardholder transactions are combined onto one company bill at cycle end. Each cardholder may receive a statement showing their individual activity that can be used for review or create an expense reimbursement, but no amount is due at the individual cardholder level. The company will receive one centralized bill containing all cardholder transactions for the period and one amount due. One notable challenge with central billing is that mid-month payments to the central company bill DO NOT impact individual cardholder availability. With central billing it is important to set the cardholder s monthly spend limit appropriately as it will not refresh until cycle cut, despite any payments made. Pros: One payment required by the company One statement showing all activity for the company Cons: May require more administration work to insure individual cardholders complete reimbursement processes Mid-cycle payments do not refresh balances; therefore cardholder limits must be appropriately set 12

13 administrator and ownership changes Administrator changes An existing Program Administrator can add and delete additional program administrators directly through the online management & reporting system as well as the expense management system. Credit card department bank records: Please provide a letter on company letterhead outlining the requested changes. Letter must be signed by a current program administrator or company grantor. Ownership changes: From time to time ownership in companies may change. It is important to notify the Bank of any ownership changes where an owner with 20% or more ownership interest changes or if the organization experiences a purchase, buyout, restructuring, or other notable organizational change. Please contact the credit card department in advance of any changes to insure there is no interruption to your card program. 13

14 fraud prevention tools Fraud and unauthorized transactions are an unfortunate part of card transactions, but there are steps you can take to limit your exposure and reduce fraud. There are two main types of fraud; internal and external. External fraud is beyond your control and usually consists of unauthorized use of the card number or counterfeit cards. Internal fraud includes unauthorized purchases, personal expenses, and expenses beyond company policies. Review statements and activity: Nothing can replace simply reviewing your organizations transactions. This responsibility begins with the cardholder and continues through the Program Administrator. Require monthly expense reports from every employee: This process forces the cardholder to review and account for every transaction and submit them for approval, regardless of whether you have individual or company billing. Build templates in Intellilink that look for: Out-of-ordinary transactions Merchant Category Codes (MCC) that are not standard Transaction dates and times that do not align with business expenses, i.e. Saturday or late night Detailed travel expenses that do not meet company travel tolerances, i.e. first class Round dollar transactions may indicate gift card purchases Report fraud: If you or a cardholder suspects that a card has been compromised contact the bank immediately. The cardholder can contact Customer Service at to report the suspected fraud. As a program administrator, you can contact the credit card department during normal banking hours to report the suspected fraud or customer service outside of normal banking hours. A call can also be made directly to the Lost/Stolen department at to report fraudulent activity on the account. Visa liability waiver program In cases of employee misuse of the commercial card, companies can benefit from the Visa Liability Waiver Program. This program is designed to protect Visa clients in the event of card misuse by terminated employees with coverage up to $100,000 per cardholder (certain guidelines must be followed). Information on this program is included on our website or contact the card department directly. 14

15 Visa commercial card benefits As a commercial cardholder, you have access to the Visa Assistance Center. The Center is staffed 24/7 and can be called toll free (800) VISA-911. The Center offers worldwide support and assistance, as well as the following Commercial card benefits: Travel and emergency assistance services: Visa Travel and Emergency Assistance Services will put you in touch with the appropriate emergency services should the need arise. Here are some of the ways we can help: Emergency Message Service can record and relay emergency messages for travelers, immediate family members, or business associates. NOTE: Visa will use reasonable efforts to relay emergency messages in accordance with benefit guidelines and limitations, but cannot take responsibility for the failure to transmit any message successfully. Medical Referral Assistance provides medical referral, monitoring, and follow-up. The Benefit Administrator can give you names of English-speaking local doctors, dentists, and hospitals; assign a doctor to consult by phone with local medical personnel, if necessary, to monitor your condition, keep in contact with your family, and provide continuing liaison; and help you arrange medical payments from your Visa or personal account. NOTE: All costs are your responsibility. Legal Referral Assistance can arrange contact with English-speaking attorneys and U.S. embassies and consulates if you re detained by local authorities, have a car accident, or need legal assistance. In addition, the Benefit Administrator can coordinate bail payment through a transfer of funds from your Visa or personal account. The Benefit Administrator can also follow up to make sure bail has been properly handled. NOTE: All costs are your responsibility. Emergency Transportation Assistance can help you make all the necessary arrangements for emergency transportation home or to the nearest medical facility. This even includes arranging to bring your business associates home and staying in contact with family members or employers. In the case of a death, the Benefit Administrator can make arrangements to repatriate the remains. NOTE: All costs are your responsibility. Emergency Ticket Replacement helps you with the carrier s lost ticket reimbursement procedures if you should lose your ticket and can arrange delivery of a replacement ticket to you. NOTE: All costs are your responsibility. Lost Luggage Locator Service can help you through the common carrier s claim procedures or can arrange shipment of replacement items if an airline or common carrier loses your checked luggage. The Benefit Administrator can also arrange a cash advance with your Visa issuing bank. However, you are responsible for the cost of any replacement items shipped to you. Emergency Translation Service provides telephone assistance in all major languages and helps find local interpreters, if available, when you need more extensive assistance. NOTE: All costs are your responsibility. 15

16 Prescription Assistance and Valuable Document Delivery Arrangements can help you get prescriptions filled or replaced, subject to local laws, and can even arrange pickup and delivery of prescriptions filled for you at local or nearby pharmacies. It can also help transport critical documents which you may have left at your business or elsewhere. NOTE: All costs are your responsibility. Pre-Trip Assistance can give you information on your destination before you leave information such as ATM locations, currency exchange rates, weather reports, health precautions, immunizations, and required passport visas. Auto rental collision damage waiver: When certain terms and conditions are met, Visa Auto Rental Collision Damage Waiver benefit ( Auto Rental CDW ) provides at no additional charge reimbursement for damage due to collision or theft up to the actual cash value of most rental vehicles. See the full Visa Guide to Benefits Disclosure for additional details and requirements Lost luggage reimbursement: When You pay for the entire cost of Common Carrier tickets with Your eligible Visa card, You will be eligible to receive reimbursement for Your Checked Luggage, carryon luggage, and its contents for the difference between the value of the amount claimed and the Common Carrier s payment, up to $1,250 per trip provided the luggage was lost due to theft or misdirection by the Common Carrier. The value of the amount claimed is the lesser of the actual purchase price of the item(s), the actual cash value of the item(s) at the time of theft misdirection with deduction for depreciation, or the cost to replace the item(s). The Eligible Person must take all reasonable means to protect, save, and/or recover any carry-on property at all times. This reimbursement is supplemental to and excess of any valid and collectible insurance and/or possible reimbursement from any other source. See the full Visa Guide to Benefits Disclosure for additional details and requirements. $100,000 travel accident insurance: this is an accidental death and dismemberment only policy and does not pay benefits for loss from sickness! You and your dependents become covered automatically when the entire Common Carrier fare is charged to your covered Commercial Card account. It is not necessary to notify the Financial Institution, the Insurance Company, or the Benefit Administrator when tickets are purchased. Coverage ends when the policy is terminated or on the date your covered card terminates or ceases to be in good standing, whichever occurs first. See the full Visa Guide to Benefits Disclosure for additional details and requirements. PRD15Q