T&E Expense Management: The Case for Mandating Your Card Program. August 19, 2009
|
|
- Ilene Perry
- 8 years ago
- Views:
Transcription
1 CORPORATE PAYMENT SYSTEMS T&E Expense Management: The Case for Mandating Your Card Program August 19, 2009
2 Introduction The challenges and opportunities for organizations of all sizes have changed dramatically over the past few years. Today many organizations are focused on finding practical ways to improve their bottom lines, and as the second-largest operating expense in most organizations, travel and entertainment (T&E) is a focal point. As a result, financial executives are looking for more cost-effective and efficient approaches to managing T&E expense. A commercial card program is an integral part of this overall T&E expense management strategy. Commercial card programs help organizations meet control and compliance requirements throughout the travel management process. These programs streamline processes and reduce paperwork, and provide the data necessary to effectively manage supplier relationships. In addition, by achieving more control and visibility over their spending, and freeing up time and resources, organizations can focus on more strategic activities. But to fully achieve these commercial card benefits, organizations must mandate usage. To illustrate the importance of mandating commercial card use, this guide addresses the following areas: Benefits to Mandate Many organizations already leverage the power of commercial card programs to take greater control over T&E spending and further enhance their visibility into it. A commercial card program can help organizations lower travel costs, increase corporate control and policy compliance and improve productivity. Yet despite the fact that commercial cards have become common practice, many organizations are still not maximizing the value of their card programs. So how can organizations immediately impact their bottom lines while strengthening their cash position? Experts agree: Mandating that employees use a commercial card to pay for T&E expenses air travel, hotel rooms, meals and ground transportation is a best practice. Not only does the use of a commercial card make payment easier for employees, it also ensures organizations capture rich data from each transaction. With the resulting increased transparency, organizations can monitor policy compliance more effectively, drive efficiencies, identify savings opportunities and increase negotiation leverage with travel service suppliers. This is a quick win with direct bottom line results. What are the measurable benefits for mandating a commercial card program? How can organizations effectively overcome barriers to mandate usage? 1
3 The 2009 Corporate Travel Card Benchmark Survey Results report by RPMG Research Corporation identifies travel card mandates as a best practice, noting that 78 percent of best practice organizations currently mandate employee use of the commercial card for T&E expenditures. By contrast, only 66 percent of needs improvement organizations mandate use of the card for T&E. Organizations that do not mandate card use are at a unique disadvantage in terms of generating the benefits that accrue from card use. By mandating card use and shifting transactions from employees personal cards and cash, organizations can maximize the benefits and value of their commercial card program. Benefits of Mandating a Commercial Card Program Convenience Cost Reduction Control Information Compliance Automation Sourcing Trust Revenue Sharing Increase employee satisfaction and productivity by simplifying travel procurement and expense reimbursement Reduce transaction and processing costs when procuring travel Maintain control over organizational spending and eliminate rogue spending Consolidate T&E expense data for a holistic, enterprise-wide view of spending Reinforce compliance to travel policies and procedures Integrate with T&E technologies (e.g., expense reporting system) to further automate expense management processes Rationalize supplier base and negotiate discounts Provide reliable payment method between buyers and sellers Optimize cash rebate 2
4 Convenience A commercial card offers employees a quick and easy payment method for T&E expenses such as airline tickets, hotels, meals and rental cars without using personal funds or company cash advances. On average, almost 13 percent of travel spending is paid for by employees using their own credit card, cash or personal checks. 1 A mandated commercial card program offers employees the convenience of not having to use their own line of credit to fund company business, plus many other benefits including: Employees Minimizes the wait for personal reimbursement of travel expenses Eliminates the labor-intensive process of separating personal- and businessrelated expenses Eases the effort spent maintaining records and retaining expense documentation Organization Lowers costs related to the expense reimbursement process Improves fiduciary responsibility and internal control over business expenses Increases access to detailed spend data across the organization Provides data required for Sarbanes- Oxley reporting Accepted worldwide, commercial cards offer a fast, reliable, flexible and easy way for employees to pay. In addition, cardholders enjoy benefits including emergency cash and card replacement, primary auto rental insurance, common carrier travel accident insurance, travel and emergency assistance, and much more. By mandating commercial card use, cardholders enjoy security and convenience no matter where they travel. 1 RPMG Research Corporation, Corporate Travel Card Benchmark Survey Results,
5 Cost Reduction Travel and entertainment expenses can severely impact cash management, creating pockets of loosely controlled funds. According to industry estimates, nearly half (49 percent) of all T&E costs are unmanaged. 2 Whether purchasing outside preferred vendor contracts or utilizing cash for ancillary expenses such as ground transportation or parking, organizations are missing significant savings opportunities. Through the use of commercial cards, organizations can streamline and simplify travel procurement and decrease the need for petty cash accounts and cash advances, further increasing control over T&E expenses. Organizations that have traditionally managed employee T&E expenses by issuing cash advances or reimbursing employees for out-ofpocket expenditures can realize significant cost savings by mandating use of the card. Organizations can save program administration time by mandating a single commercial card program for use on all T&E transactions versus the use of an employee s personal credit card. In fact, organizations can expect to save $8 - $27 per transaction in processing costs by using a commercial card. 3 To help ensure employees purchase from preferred suppliers, some organizations set up ghost accounts with their contracted travel agents to cover T&E expenses such as airfare and hotel reservations. In addition, organizations may use ghost accounts assigned by department to cover T&E expenses for infrequent travelers or non-employees, such as contractors or recruits. This use of virtual accounts for T&E-related spend extends the benefits of the card program such as the reduction of costs associated with individual employee travel reimbursements and the elimination of employee burden to cover travel expenditures while awaiting reimbursement to individuals who don t have a card. Control Business owners, shareholders and government regulations require organizations to control and account for their T&E expenditures. As a result of the Sarbanes-Oxley Act (SOX) passed in 2002, organizations have refocused their attention on maintaining controls-compliant business environments and improving financial transparency. Commercial cards can be a valuable tool in helping to achieve these control objectives especially controls concerning the recording, processing and reconciling of account balances for accurate financial reporting and the prevention, identification and detection of fraud. To adhere with these requirements to develop firmer controls over corporate spending and reporting, organizations can implement comprehensive control strategies with their commercial card programs. Card programs facilitate a degree of control through card features that not only minimize the risks of potential commercial card misuse, but also help organizations approve, monitor and track T&E spend to ensure compliance and provide a clear audit trail. Organizations can manage employee spend with enhanced point-of-sale controls, such as: Spending limits based on transaction amount or number of transactions Daily, weekly and/or monthly spending limits Spending restrictions based on merchant category code (MCC) Such controls ensure that employees are prevented from making purchases outside established limits before the transaction takes place. Without a mandated commercial card program, employees are able to spend unlimited amounts using personal accounts and excessive or unauthorized expenditures can be caught only after the fact. 2 CFO.com, Travel Expenses, Down to Earth, Aberdeen Group. Travel and Entertainment Expense Report,
6 A mandated commercial card program provides the data necessary to mitigate control-related risk. The program is key in helping minimize out-of-policy purchases and employee misuse by providing visibility into organizational spend. Organizations can use the data for backend auditing and exception reporting to bolster control over spending and help comply with internal and external regulations. Information A variety of requirements drive the need for detailed tracking of T&E expenses, including information about the type of expense, cost and relevant taxes. This information is used to ensure proper accounting and expense allocation. It also makes reporting possible to support compliance monitoring and supplier sourcing efforts. However, for many organizations, the process of collecting and tracking this information is paper-based, and thus, highly labor-intensive. One of the reasons that effective T&E expense management is a challenge for many organizations is due to a lack of data; i.e., you can t control what you can t measure. Commercial cards are not only payment tools; they are a vital source of information. Since commercial card data reflects what is spent rather than what is booked, it is more inclusive and comprehensive than data from alternate channels, including supplier data. Mandating the use of the commercial card for T&E expenses provides organizations with a single source of data, enhancing visibility into T&E spend and providing a complete spend picture. With more accurate and consolidated transactional data, organizations improve their ability to make informed sourcing and spending decisions, resulting in cost reductions and processing efficiencies. For example, when compared to organizations that do not mandate use of the commercial card, organizations that mandate commercial card spending capture a higher percentage of travel expenses on the card (91% vs. 72%) and are more likely to use card data in discount negotiations over airfare, lodging and auto rentals. 4 Organizations employing best-in-class commercial card data usage, which includes the use of global, regional and enhanced data, realize an average incremental savings of up to 7.2 percent on their T&E budget. This gain is from improved sourcing with suppliers to maximize discounts and rebates and from improved compliance, versus those organizations not employing best-in-class commercial card data usage. 5 Compliance Travel and entertainment has traditionally been handled differently from other types of organizational expenses, with employees exercising substantial discretion in their buying decisions and, often, paying for expenses personally and requesting company reimbursement. As such, compliance can only be monitored and enforced after the expense has been incurred. Therefore, it is critical that organizations have travel policies in place to ensure employees have boundaries and guidelines to use when planning trips. A mandated commercial card program supports such travel policies by enabling the implementation of rules around travel purchases and providing a mechanism to drive traveler compliance. With a mandated commercial card program, organizations can implement comprehensive controls to validate and enforce travel policy compliance. As discussed above, a commercial card provides front-end compliance by validating expenses against the organization s pre-defined limits such as transaction amounts and merchant category codes. In addition, organizations can capture and analyze card 4 RPMG Research Corporation, Corporate Travel Card Benchmark Survey Results, Accenture, Corporate Card Data Value Study,
7 program data to identify who is in-policy and out-of-policy, and then take targeted action to drive compliance. With a commercial card program, organizations gain access to crucial T&E data that can improve compliance and lead directly to cost savings and operational efficiencies. Sixty-one percent of organizations report that commercial card use is associated with significantly lower levels of travel policy violation. 6 Using commercial card data, organizations can pinpoint common travel policy exceptions, such as: Transactions with unauthorized or non-preferred suppliers Transactions for larger quantities of goods/services (e.g., taking too many people out to a business lunch) Transactions for goods/services of a higher quality (e.g., buying first class instead of coach airfare) A well-designed travel policy, coupled with a mandated commercial card program can greatly improve compliance, resulting in average savings of 20 percent on travel spend. 7 Automation Expense claim processing is the most costly part of the T&E management process and accounts for more than half (52 percent) of total indirect costs. Indirect costs associated with managing T&E were calculated at 4.6 percent of total direct T&E, but could be reduced to just 2.1 percent a 47 percent reduction if automated. 8 Commercial cards play an essential role in the automation of the expense claim process. When automated and integrated, commercial cards and expense reporting solutions deliver not only cost savings, but allow organizations to streamline processes, enhance employee convenience and productivity, increase compliance with travel policies and improve 6 RPMG Research Corporation, Corporate Travel Card Benchmark Survey Results, CWT Travel Management Institute, Playing by the Rules: Optimizing Travel Policy and Compliance, visibility into spending. By automating the expense reporting process with commercial card data, organizations yield average savings of 68 percent in processing costs, 55 percent in traveler time savings and 57 percent in approver time savings. 9 Expense reporting solutions are relatively easy to integrate with commercial card programs, capturing actual expense information directly from the card provider via automatic data feeds. By integrating a commercial card feed with an expense reporting solution to prepopulate expenses, the manual entry required to create an expense report and possible transcription errors are eliminated. Employees save time when completing their expense reports and organizations can make certain employees are reporting actual expense amounts. In addition, expense reporting tools help organizations further enforce travel policy compliance by embedding policies into the expense reporting process. Finally, with built-in payment authorization and processing, these solutions dovetail nicely with most organizations payroll and ERP systems for efficient reconciliation. To achieve the time savings, management efficiencies and process savings gained through expense claim automation, organizations should mandate commercial card use. A mandated commercial card program ensures more accurate data is pre-populated to expense reports thus, maximizing efficiency and savings. With integration of card data to an expense reporting solution, the expense reporting process is faster and easier, which may encourage employees to use their commercial cards. Further, expense reporting solutions can support policies that drive spending to the cards. In other words: a mandated card program supports expense reporting integration, but having that integration in place can also make it easier to mandate the card program. 8 A.T. Kearney, T&E Payment and Expense, MasterCard, T&E Expense Management Best Practices Study, 2007
8 Sourcing Controlling costs for an organization s secondlargest operating expense is a very challenging task. Many organizations do not have full visibility to what they spend on travel, thus making it difficult to negotiate strategic agreements with travel providers or, once negotiated, to enforce those agreements. One of the most effective ways to better manage T&E expenses is through the use of a select and smaller set of preferred suppliers, which allows organizations to leverage their travel spending to lower prices while increasing quality, delivery and service levels from providers. Through the negotiation of travel-related contracts and adherence to these contracts, organizations can save significantly on travel 10 percent to 20 percent from this practice alone. 10 Mandating commercial card use is an important component of a sourcing strategy. When employees are allowed to pay for goods and services with their own cards or other personal resources (i.e., non-mandated card use), the information about those purchases and any leverage that an organization might have accrued is usually lost. Conversely, mandating commercial card use and using card data to ensure that cardholders are using contracted suppliers ensures that data to manage the pricing aspect of the supplier relationship will be available to the organization. By placing all T&E spending on the commercial card, data is captured in one repository for use in supplier negotiations. Commercial cards allow an organization to gain greater visibility into spend, enabling more accurate and comprehensive spend analytics. Spend data analysis can help organizations better understand their purchases with top suppliers by spend type, enabling them to negotiate supplier terms and pricing. Organizations that use commercial card data as their primary source of information to support negotiations with suppliers report higher average discounts for airfare, lodging and auto rental. 11 The most effective organizations use enhanced transaction data from the commercial card, which allows the organization to track such information as which flight legs the organization is purchasing most frequently. Using this data, organizations can identify the suppliers utilized and services purchased to leverage the best possible rates from airlines, hotels, car rentals and other travel services suppliers. Additionally, organizations can use commercial card data to evaluate suppliers compliance with contractual terms, i.e., the price paid was the price negotiated. A generally accepted statistic is that $1 in cost savings has the equivalent impact to the bottom line as $10 of revenue. Many organizations have numerous T&E suppliers and lack the information to rationalize and successfully negotiate with their vendors. Maintaining and managing these relationships is costly. Organizations that do not mandate card use or centralize procurement around a number of key vendors, forgo opportunities to negotiate volume discounts with key suppliers. Trust Buying organizations need a viable payment solution for use in the physical and virtual worlds that provides recourse, while suppliers require a solution which ensures prompt, full payment. Commercial cards offer both buyers and suppliers a trusted payment option that enhances efficiencies and reduces costs. Commercial card payments allow suppliers to run their payment collection processes more efficiently by eliminating costly credit approvals and late payment collections activity. Commercial card payments also increase suppliers cash flow by receiving payment in 10 Gartner, Travel Expense Management: Best Practices Yield Success, RPMG Research Corporation, Corporate Travel Card Benchmark Survey Results,
9 time frames as short as two to three days. Commercial card payments provide buyers with dispute rights and offer protection not found with other payment methods. For example, once a check is cashed, the buyer has no mechanism to demand repayment for services not rendered. If a commercial card is used for payment, however, an established dispute process makes it much easier for buyers to maintain business continuity. There is very little downtime and financially they are able to go about their business without worrying about recovering payments. Organizations enjoy peace of mind knowing that if an employee s commercial card is ever lost or stolen, the zero liability policy protects employees from unauthorized purchases. Organizations also receive added protection through the liability waiver program. 12 In the event of a cardholding employee misusing the commercial card, this valuable insurance automatically protects the organization against losses. It covers all transactions, including cash advances, online purchases, mail or telephone orders and in-store purchases. By mandating commercial card use, organizations can conduct business with complete confidence. The commercial card eliminates potential losses due to merchant issues (e.g., defective or wrong merchandise, service or merchandise not received), theft or employee misuse. Revenue Sharing In addition to administrative, process and transaction cost savings, organizations can increase revenue sharing opportunities by mandating use of the commercial card. Revenue sharing, commonly referred to as rebates, is a percentage of the card processing fees earn by the issuing bank. Rebates are designed to act as a revenue-sharing mechanism between the card issuer and the organization using the card, representing hard-dollar savings that can directly reduce program costs. Rebates are a commercial organization s version of consumer points programs in that the more the organization pays with the card, the more the organization receives in rebates. Today, T&E spend capture on commercial cards is about 75 percent with 25 percent going on employees personal cards or other payment methods. 13 By capturing and consolidating T&E spend on the commercial card, organizations can improve their revenue sharing potential with the card issuer. The increased rebate dollars provide additional cash flow to the organization, allowing them to optimize their cash position. 12 Certain terms, conditions, limitations and exclusions apply. 13 RPMG Research Corporation, Corporate Travel Card Benchmark Survey Results,
10 Barriers to Change As common barriers to mandating card usage, organizations cite lack of senior management support, cardholder confusion over eligible purchases, failure to enforce card-usage guidelines and overall reluctance to change. Organizations can use a variety of techniques to combat these barriers and encourage use of the commercial card. Below are best practice action steps organizations can implement to successfully design a system to enforce compliance with commercial card policies and encourage card payment for eligible purchases. 14 Implementation Action Steps 1.Develop written policies specifying eligible and prohibited purchases for the commercial card 2.Communicate these commercial card policies to all cardholders and managers, along with procedures for non-compliance 3.Encourage card use by training cardholders on proper use and benefits obtained through the commercial card 4.Review purchases made through other methods (e.g., petty cash, check) to determine whether purchases should have been made on a commercial card 5.Notify cardholders and/or management when purchases should have been made with a commercial card Conclusion As organizations look for solutions to help minimize the impact of rising costs and control spending wherever possible, it is clear that mandating and enforcing commercial card use is a key best practice. Placing all eligible T&E expenses onto commercial cards improves the organization s ability to achieve cost savings and enhances reporting capabilities through expense consolidation. Requiring use of commercial cards also helps organizations facilitate and standardize T&E expense management processes, which increases control and minimizes administrative inefficiencies. Additionally, the use of commercial cards helps to minimize the need for cash advances and ensures that employees will not need to pay out-of-pocket for business-related expenses. While there are a variety of hard and soft savings derived from mandating commercial card use, the biggest challenge may be getting travelers on board. So it is important that organizations take specific steps with respect to organizational leadership, policy, education and program management to reinforce the mandate. For More Information For more information regarding B2B payment solutions, contact U.S. Bank Corporate Payment Systems at or paymentsolutions@usbank.com. 6.Convey benefits of and successes associated with use of the commercial card to cardholders and management 14 Visa, Practical Guide to Commercial One Cards,
11 CORPORATE PAYMENT SYSTEMS usbank.com 2009 U.S. Bancorp. All rights reserved. U.S. Bank Corporate Payment Systems is a division of U.S. Bank National Association ND. All other trademarks are the property of their respective owners (8/09)
Commercial Solutions. Client Value Proposition
Commercial Solutions Client Value Proposition VISA Corporate Card Program Registered trademark of Visa International Service Association; Visa Canada is a licensed user Current Market Environment Marketplace
More informationU.S. Bank Corporate Travel Card. OR ST Overview
U.S. Bank Corporate Travel Card OR ST Overview September 24, 2013 Discussion Topics Corporate Travel Industry Trends U.S. Bank Solutions 2 Executive Summary T&E expenses continue to be one of the largest
More informationVisa Commercial Card Program
Visa Commercial Card Program More than $10 million in annual sales More than 50 employees Employees travelling making both T&E and procurement expenditures The Visa Commercial Card Program combines benefits
More informationTreasury Accounts Payable Financial Systems 53% Audit/Compliance Budgeting/Planning
Corporate Travel & Entertainment Payment Cards THE BENEFITS FOR FINANCE DEPARTMENTS Corporate cards provide distinct benefits for no fewer than five different functions within a finance department treasury,
More informationPurchasing Card Information
Purchasing Card Information Model cardholder instructions for agency and campus internal procedures May 2006 Introduction Welcome to the State of Wisconsin s Purchasing Card Program. This user manual is
More informationProcure-to-pay and commercial card best practices during a difficult economy.
V I S A C O M M E R C I A L S O L U T I O N S p r o c u r e - t o - p ay a n d C o m m e r c i a l c a r d b e s t P r a c t i c e s w h i t e p a p e r Procure-to-pay and commercial card best practices
More informationMasterCard Corporate Multi Card. Best Practices Guide
MasterCard Corporate Multi Card Best Practices Guide .: Table of Contents Introduction......................................................................................................... 2 Planning
More informationJANUARY 2015. TAKE CHARGE: How to Successfully Plan and Deliver a Strategic E-payment and Commercial Card Implementation
JANUARY 2015 TAKE CHARGE: How to Successfully Plan and Deliver a Strategic E-payment and Commercial Card Implementation E-PAYMENTS & COMMERCIAL CARDs white paper 2 When it comes to launching an e-payments
More informationTreasury Management. WellsOne Commercial Card
Treasury Management WellsOne Commercial Card $182,000 Average value a company can generate for every $1 million in spending converted to commercial cards, through reduced processing costs, increased discounts,
More informationVisa Commercial Card Best Practices
Visa Commercial Card Practices Introduction Commercial card best practices are part of Visa s ongoing effort to understand and improve the processes of business. Visa Commercial Solutions commissioned
More informationCORPORATE TRAVEL & ENTERTAINMENT PAYMENT CARDS THE BENEFITS FOR TRAVEL MANAGERS
CORPORATE TRAVEL & ENTERTAINMENT PAYMENT CARDS THE BENEFITS FOR TRAVEL MANAGERS Travel and entertainment (T&E) is a critical spend category for nearly all corporations. Typically, it is the second largest
More informationCommercial Cards for Accounts Payable
Commercial Cards for Accounts Payable MGFOA 2010 Fall Training Institute September 20, 2010 Donovan Shand Vice President Global Corporate Product Management Comerica Bank Topics for Discussion Current
More informationVISA COMMERCIAL SOLUTIONS. Maximise operating efficiencies and lower costs through detailed spend analysis.
VISA COMMERCIAL SOLUTIONS Visa Enhanced Data capture Maximise operating efficiencies and lower costs through detailed spend analysis. Table o f Contents 1 Introduction...2 2 The value of Enhanced Data...3
More informationVISA COMMERCIAL SOLUTIONS BEST PRACTICES SUMMARIES. Profit from the experience of best-in-class companies.
VISA COMMERCIAL SOLUTIONS BEST PRACTICES SUMMARIES Profit from the experience of best-in-class companies. Introduction To stay competitive, you know how important it is to find new ways to streamline and
More informationKnox College PNC BANK PNC PURCHASING CARD. Policy and Procedures Manual
Knox College PNC BANK PNC PURCHASING CARD Policy and Procedures Manual March 1, 2014 Table of Contents Introduction General Guidelines..Page 4-5 - Card Issuance - Account Maintenance - Card Usage - Preferred
More informationPRACTICAL GUIDE TO. Control and Compliance in Commercial Card Programs
PRACTICAL GUIDE TO Control and Compliance in Commercial Card Programs TABLE OF CONTENTS 1 Introduction......................................................................3 2 Corporate Controls Landscape
More informationTop 10 reasons to automate expense management process
Top 10 reasons to automate expense management process Switching from spreadsheet to an automated solution Though many leading enterprises have moved to automate their expense management, there are still
More informationOne Card Versus Multiple Card Products What Every Organization Should Know
One Card Versus Multiple Card Products What Every Organization Should Know Executive Summary Introduction to One Cards The one card a single charge card that combines procurement with travel and entertainment
More informationCorporate Cards: Global Travel and Entertainment Card Programs Profile and Best Practices.
Corporate Cards: Global Travel and Entertainment Card Programs Profile and Best Practices. Organizations that seek to maximize spend capture in their T&E card program have found a valuable tool that provides
More informationUI Purchasing Card Program USBANK. User Manual
UI Purchasing Card Program USBANK User Manual Accounts Payable PO Box 444244 709 Deakin Street Rm042 Moscow, ID 83844-4244 Revisions in Progress November 2010 UI PURCHASING CARD USER MANUAL TABLE OF CONTENTS
More informationAutomating payment processes to deliver bottom line cost savings in a weak economy.
VISA COMMERCIAL SOLUTIONS payables automation white paper Automating payment processes to deliver bottom line cost savings in a weak economy. Author: Nicholas Marchetti, Senior Business Leader Commercial
More informationWVU FOUNDATION & UNIVERSITY PURCHASING CARD PROGRAM POLICIES & PROCEDURES. Updated October 2012
WVU FOUNDATION & UNIVERSITY PURCHASING CARD PROGRAM POLICIES & PROCEDURES Updated October 2012 Introduction This document contains the guidelines applicable to the WVU Foundation, Inc. Purchasing Card
More information2012 Expense Management Benchmarking Study
2012 Expense Management Benchmarking Study Contents Introduction 3 Study Demographics 4 Travel & Entertainment (T&E) Expenditure Benchmarks 5 Expenditure Analysis 5 Travel & Expense Management Policy 6
More informationTravel Card Policy and Procedure Manual
Policy and Procedure Manual Table of contents 1. Introduction... 3 2. Reason for Policies and Procedures... 3 3. Who Needs To Know the Policies and Procedures... 3 4. Definitions... 3 5. Contact Information...
More informationProfit from the experience of best-in-class companies.
VISA COMMERCIAL SOLUTIONS Global Procure-to-Pay and Commercial Card Best Practices Executive Summary Profit from the experience of best-in-class companies. Today s most successful companies have shifted
More informationA Performance Audit of the State s Purchasing Card Program
REPORT TO THE UTAH LEGISLATURE Number 2006-09 A Performance Audit of the State s Purchasing Card Program September 2006 Audit Performed By: Audit Manager Audit Supervisor Audit Staff Rick Coleman Susan
More informationWHITE PAPER. Visibility. Better Insight Leads to Better Cost Control
WHITE PAPER Visibility Better Insight Leads to Better Cost Control 2 WHITE PAPER Executive Summary Insight and Best Practices Drive T&E Savings Many experts believe a lean, new economy is unfolding a business
More information87% MasterCard Guide to Travel & Entertainment. T&E Guide EXECUTIVE HIGHLIGHTS EXECUTIVE SUMMARY
MasterCard Guide to Travel & Entertainment BY SANDY GENNRICH, VICE PRESIDENT & BUSINESS LEADER, U.S. COMMERCIAL PRODUCTS EXECUTIVE HIGHLIGHTS A well-crafted Corporate Travel Policy creates a structure
More informationWHITMAN COLLEGE PURCHASING and TRAVEL CARD PROGRAM POLICIES and PROCEDURES
WHITMAN COLLEGE PURCHASING and TRAVEL CARD PROGRAM POLICIES and PROCEDURES INTRODUCTION Welcome to Whitman College s implementation of the Purchasing and Travel Card Program. The program is designed generally
More informationImproving Accounts Payable Processes to Deliver Bottom-Line Cost Savings
VISA COMMERCIAL SOLUTIONS visa accounts payable automation white paper Improving Accounts Payable Processes to Deliver Bottom-Line Cost Savings Author: Nick Marchetti, Senior Business Leader, Visa Inc.
More informationSavannah State University TRAVEL CARD POLICY FOR EMPLOYEES A UNIT OF THE UNIVERSITY SYSTEM OF GEORGIA
Savannah State University TRAVEL CARD POLICY FOR EMPLOYEES A UNIT OF THE UNIVERSITY SYSTEM OF GEORGIA TABLE OF CONTENTS Travel Card Policy Purpose and Enforcement...1 Card Issuance and @Work Setup...1
More informationPURCHASING CARD POLICY AND PROCEDURES
PURCHASING CARD POLICY AND PROCEDURES 1. PURPOSE To establish policies and procedures for procuring goods and/or services using a Purchasing Card. Purchasing Cards are referred to throughout this policy
More informationPurchasing Cards: Yesterday, Today & Tomorrow How far they ve come and where they are going.
Purchasing Cards: Yesterday, Today & Tomorrow How far they ve come and where they are going. Susan Ouchterloney, Bank of America Merrill Lynch Ryan Cappannari, Citizens Bank Payment Solutions Date: September
More informationMasterCard Corporate Fleet Card. Best Practices Guide
MasterCard Corporate Fleet Card Best Practices Guide .: Table of Contents Introduction.................................................................. 3 Planning and Implementation.....................................................4
More informationState of Georgia Purchasing Card Program Policy Department of Administrative Services State Purchasing Division
State of Georgia Purchasing Card Program Policy Department of Administrative Services State Purchasing Division I. State of Georgia Purchasing Card Program The purpose of this policy is to define the State
More informationPRODUCT INFORMATION. Monitor Your Business Better.
PRODUCT INFORMATION Monitor Your Business Better. Introduction Policy Compliance Manager (PCM) is a pre-trip approval application that automates the costly, labor-intensive and error-prone manual process
More informationTRANSITION GUIDE SOLUTIONS FROM JPMORGAN CHASE GOVERNMENT CARD. May, 2008. MasterCard Version 1.0 GSA
TRANSITION GUIDE SOLUTIONS FROM JPMORGAN CHASE GOVERNMENT CARD May, 2008 MasterCard Version 1.0 GSA Confidentiality Clause and Disclaimer This Transition Guide contains information that is confidential
More informationSeptember 2010 Conducted by: MasterCard Advisors Sponsored by: U.S. Bank Corporate Payment Systems
The State of Business-to-Business Payment Transformation September 2010 Conducted by: MasterCard Advisors Sponsored by: U.S. Bank Corporate Payment Systems 1.0 Executive Summary In the July 2008 State
More informationCOMMERCIAL CARDS BNP PARIBAS
COMMERCIAL CARDS BNP PARIBAS Corporate Needs Do you want to monitor your employee s T&E expenses, or streamline the process for your recurring purchases? "As the Chief Procurement Officer of my company,
More informationEXPANDING THE USE OF PURCHASING CARDS
EXPANDING THE USE OF PURCHASING CARDS The Government has approved the use of a purchasing card in its purchasing processes. The purchasing card is intended to provide an efficient and convenient alternate
More informationPURCHASE CARD POLICIES AND PROCEDURES MANUAL
PURCHASE CARD POLICIES AND PROCEDURES MANUAL Effective July 1, 2010 Alma College Purchase Card Policies and Procedures Manual 1.0 INTRODUCTION Alma College has established a Purchase Card (PCARD) Program
More informationExpense Management 101
Expense Management 101 Why Travel Managers Should Care Monday, August 24 9:30 am 10:45 am NBTA thanks our Education Sponsors: Agenda Introductions Using an Expense Management Tool Using a Corporate Card
More informationCharleston County. Procurement Card Program. Policies and Procedures Manual
Charleston County Procurement Card Program Policies and Procedures Manual September 2014 PARTIES INVOLVED Card Program Administrator - The central Administrator located in the County of Charleston's Procurement
More informationDIOCESE OF PENSACOLA-TALLAHASSEE
DIOCESE OF PENSACOLA-TALLAHASSEE Wells Fargo Bank WellsOne SM Comm mercial Card Program Policy and Procedures Manual July 20111 Table of Contents Introduction Page 2 General Guidelines..Page 3 - Card Issuance
More informationTHE VISA MULTINATIONAL CORPORATE CARD
THE VISA MULTINATIONAL CORPORATE CARD WELCOME TO THE VISA MULTINATIONAL PROGRAM Companies doing business in multiple markets require global service and local support at the same time. The VISA Multinational
More informationCOLORADO SCHOOL OF MINES CONTROLLER S OFFICE PROCUREMENT CARD HANDBOOK
COLORADO SCHOOL OF MINES CONTROLLER S OFFICE PROCUREMENT CARD HANDBOOK Revised November 2014 Table of Contents Introduction... 3 Who Can Participate in the Procurement Card Program?... 3 Responsibilities...
More informationAutomated Travel and Entertainment (T&E) Expense Management
White Paper Automated Travel and Entertainment (T&E) Expense Management File & Approve Expense Reports faster. Increase ROI Version 1.1 Last Updated: 20-09-2010 www.sutisoft.com 1 2 3 4 5 6 7 8 10 11 Abstract
More informationThe Unified Commercial Card Portfolio: A New Revenue Opportunity for Banks
JJ With over 20 billion credit card purchase transactions in the US in 2009 and a highly complex system for processing those transactions, it s not surprising that credit card information is a key target
More informationPurchasing Card (P-Card) Policy and Procedure Frequently Asked Questions
Purchasing Card (P-Card) Policy and Procedure Frequently Asked Questions 1. Q: What is a Purchasing Card and why would I want a card? A: A Purchasing Card is basically a credit card that can be used to
More informationTRAVEL AND ENTERTAINMENT CARD PROCEDURES
TRAVEL AND ENTERTAINMENT CARD PROCEDURES I. INTRODUCTION The University of San Diego Travel and Entertainment Card ( T&E Card ) is a Universitysponsored US Bank Visa credit card issued to qualified University
More informationPolicy Contact: Zags Travel & Expense Credit Card Administrator, Controller s Office
Effective Date: April 28, 2014 Prepared by: Controller s Office Last Revision: April 28, 2015 Approved by: VP for Finance Policy Contact: Zags Travel & Expense Credit Card Administrator, Controller s Office
More informationDriving AP Automation Efficiencies Through Payments Transformation. Minnesota AFP April 19, 2011
Driving AP Automation Efficiencies Through Payments Transformation Minnesota AFP April 19, 2011 Zorica Stojanovic Vice President Lawrence Heavey Senior Vice President Agenda Payments Transformation Challenges
More informationDIXIE STATE UNIVERSITY PURCHASING CARD GUIDE
DIXIE STATE UNIVERSITY PURCHASING CARD GUIDE Introduction U.S. Bank VISA Welcome to the Dixie State University Purchasing Card Program. This program has been designed to allow for the direct procurement
More informationA Guide to Effective Expense Management Strategies for
A Guide to Effective Expense Management Strategies for 2015 LIVE WEBINAR WEDNESDAY, MARCH 25, 2015 Hosted by CFO.com Presented by Certify Learning Objectives After attending this event you will be able
More information2015 Travel and Expense Management Report
2015 Travel and Expense Management Report Increasing Control, Compliance, and Productivity in a Modern Mobile Workforce Featuring Insights on...»» Current Market Trends in TEM Software Usage»» Benefits
More informationCIBC Dividend One MasterCard
YOUR WELCOME KIT Welcome to your CIBC Dividend One MasterCard Card YOUR BENEFITS GUIDE Benefits at a Glance Welcome to your CIBC Dividend One MasterCard Card 1 Chip-enabled CIBC Credit Card 1 CIBC Contactless
More informationWELLESLEY COLLEGE TRAVEL POLICIES AND PROCEDURES
WELLESLEY COLLEGE TRAVEL POLICIES AND PROCEDURES The purpose of this document is to establish and communicate equitable standards and effective procedures for reducing travel costs while complying with
More informationPNC BANK PNC PURCHASING CARD. Policy and Procedures
Saint Francis University PNC BANK PNC PURCHASING CARD Policy and Procedures October 2014 Table of Contents Introduction General Guidelines..Page 4-6 - Card Issuance - Purchase, Allocation and Statement
More informationTOWN OF BANFF POLICY. Corporate Credit Card Policy ==========================================================================
TOWN OF BANFF POLICY POLICY # POLICY TITLE AUTHORITY AUTHOR C092 Corporate Credit Card Policy COU02-280 Maier/CORP ========================================================================== 1. POLICY STATEMENT
More informationLiberty County School District Purchasing Card Procedures
PURCHASING CARD POLICY All purchases made using the Purchasing Card must be for official school business and in accordance with the District procurement code. The card must not be used for personal expenditures
More informationDriving Savings to Your Bottom Line
Driving Savings to Your Bottom Line Commercial Cards Best Practices November 14, 2012 1 Speakers Mark Sievert, Senior Global Treasury Advisor, Silicon Valley Bank Moderator Robert O Connor, Senior Global
More informationPurchasing Card Program
Purchasing Card Program User Guidelines University of North Alabama Procurement Department Created: March 2008 / Updated 7/16/2015 University of North Alabama Purchasing Card Program 1 Table of Contents
More informationThe Travel and Expense Card Handbook
The Travel and Expense Card Handbook 2500 University Drive NW Calgary, Alberta, CANADA T2N 1N4 Telephone: (403) 220-5611 Email: cardhelp@ucalgary.ca Web: http://www.ucalgary.ca/finance Twitter:@ucalgarytravel
More informationSave Money, Save Trees: How Payment Automation Can Sustain Your Agency While Sustaining the Planet
Save Money, Save Trees: How Payment Automation Can Sustain Your Agency While Sustaining the Planet 2010 Presented by: Elavon Financial Services Yves Delisle Assistant Vice President Public Sector Sales
More informationEnterprise Content Management for Procurement
Enterprise Content Management for Procurement Extending SAP capabilities is a key aspect of advanced Enterprise Content Management Today s procurement departments need extended content management solutions,
More informationbest practices Commercial Card Integration with Expense Reporting Applications
best practices Commercial Card Integration with Expense Reporting Applications Table of Contents 1 Introduction 1 2 Study Overview 2 3 Expense Reporting Market Trends 3 4 Why Integrate? The Value Proposition
More informationHow To Save Money With The American Express Corporate Card
A MERICAN E XPRESS / B USINESS E XTRAA C ORPORATE C ARD The only Corporate Card that improves your company s bottom line three ways: Airfare rebates Free* travel awards Everyday business savings COVER
More informationStrategic Meetings Management Program (SMMP) Implementation and Idea Guide
Title Page Strategic Meetings Management Program (SMMP) Implementation and Idea Guide By Corbin Ball Associates This report was commissioned by SignUp4 (www.signup4.com). Index Strategic Meetings Management
More informationPEOPLESOFT EXPENSES & MOBILE EXPENSES
PEOPLESOFT EXPENSES & MOBILE EXPENSES Oracle s PeopleSoft Expenses is a comprehensive travel expense solution, which streamlines and automates travel spend KEY FEATURES Best practices in expense Mobile
More informationExpense Management Strategies for an Economic Downturn. Report prepared by Accenture in collaboration with American Express
Expense Management Strategies for an Economic Downturn Report prepared by Accenture in collaboration with American Express Contents Foreword: What the Economic Downturn Means for 4 Expense Management
More informationPurchasing Card Cardholder Handbook
Purchasing Card Cardholder Handbook Purchasing Card Program 2500 University Drive NW Calgary, Alberta, CANADA T2N 1N4 Telephone: (403) 220-5611 Email: cardhelp@ucalgary.ca Web: http://www.ucalgary.ca/finance
More informationREVOLUTION IN PAYMENT TECHNOLOGY
REVOLUTION IN PAYMENT TECHNOLOGY VIRTUAL CARDS With travelers rising expectations, and a variety of different forces working to drive up the costs and complexities of running an efficient managed travel
More informationGoing for the Gold with a Commercial Card Program. Robert "Bob" Breard Eckhart & Associates Inc. Lisa Huff, VP Commercial Card Services
Going for the Gold with a Commercial Card Program Robert "Bob" Breard Eckhart & Associates Inc. Lisa Huff, VP Commercial Card Services Agenda LaSalle Bank/ABN-AMRO Who Are We? Commercial Cards Definition
More informationNo Boundaries. Just GetThere. GetThere Travel and Collaboration Management. Travel. Meet. Network.
No Boundaries. Just GetThere. GetThere Travel and Collaboration Management Travel. Meet. Network. For more than a decade, GetThere has been used by a majority of the Fortune 200 and the BTN Corporate Travel
More informationRegistered trademark of Visa International Service Association, Visa Canada is a licensed user. Registered trademark of Visa Canada Association.
To obtain more information about the Visa Procure-to-Pay Best Practices or to obtain a copy of the complete Best Practices study, including the Performance Gauge and ROI Tool, please contact your VISA
More informationCreating a Card-Based B2B Payments Program
A report prepared by Global Corporate Payments is published by American Express. Additional information can be found at: http://business.americanexpress.com/us/payment-services is report was prepared by
More informationThe Power Of Real-Time Insight How Better Visibility, Data Analytics, And Reporting Can Optimize Your T&E Spend
A Forrester Consulting Thought Leadership Paper Commissioned By Concur May 2014 The Power Of Real-Time Insight How Better Visibility, Data Analytics, And Reporting Can Optimize Your T&E Spend Table Of
More informationProcurement Category: Travel. Your firm is wasting money on corporate travel find out why
Procurement Category: Travel Your firm is wasting money on corporate travel find out why Your firm is wasting money on corporate travel find out why Travel may not be the largest cost line item on your
More informationPremiere Partnering Solutions
Premiere Partnering Solutions Companies often find they need a change. Change in the way business is managed; change in how revenue is earned; change in how other service lines are supported or enhanced.
More informationresource center/technology series
resource center/technology series Accounts Payable Automation Technology: Procurement Cards The Perspective of a Practitioner By Craig Simpkins, CAPP The Institute of Financial Operations 615 East Colonial
More informationCredit/Debit Card Training Training Program. Updated December 2014
Credit/Debit Card Training Training Program Updated December 2014 1 Agenda Areas of Review 1. Training Requirements 2. Card Program Overview 3. Cardholder s Responsibility 4. Spending Limitations and Restrictions
More informationP-Card: A Payables Tool. Presented by PNC Bank April 28, 2010
P-Card: A Payables Tool Presented by PNC Bank April 28, 2010 1 Agenda Introductions Payment Processing: Options/Trends Value Proposition Program Types Controls/Reconciliation Card Acceptance Questions
More informationSTATE OF FLORIDA. purchasing card program. Cardholder Manual
STATE OF FLORIDA purchasing card program Cardholder Manual PURCHASING CARD CARDHOLDER MANUAL PURCHASING CARD PROGRAM Help List Administrator Phone 850-488-8583 Fax 850-921-8262 Email: david.perrin@dca.state.fl.us
More informationWhy Your Spreadsheet Isn t Expense Management
Why Your Spreadsheet Isn t Expense Management By Christopher Levush Spreadsheets are the ubiquitous office tool; you can hardly run your business without them. A simple search on Google opens the door
More informationAnalysis. The Opportunity to Automate Accounts Payable. January 2014. Service Areas. Comments or Questions? Digital Peripherals Solutions
Analysis January 2014 The Opportunity to Automate Accounts Payable Service Areas Digital Peripherals Solutions Network Document Solutions Professional & Managed Print Services Comments or Questions? Table
More informationProcurement Card. Procedures Manual
Procurement Card Procedures Manual By: Cindy Lambeth, Purchasing Agent Purchasing Department Santa Rosa County School District (850)983-5130 Updated 09/28/15 1 General Guidelines.....................................3
More informationHow To Get Points From Worldpoints
WorldPoints Rewards Program Rules It s easy to earn Points simply use your credit card for everyday purchases, like buying groceries, filling the gas tank or paying your utility bill. Your rewards at a
More informationConsolidate and control your company s expense information: increase efficiency, boost productivity and cut costs. MasterCard.
Consolidate and control your company s expense information: increase efficiency, boost productivity and cut costs MasterCard Smart Data OnLine Better organize, consolidate, manage your MasterCard Smart
More informationBENEFITS GUIDE. BMO Prepaid Travel. MasterCard. Your travel payment card
BENEFITS GUIDE BMO Prepaid Travel * MasterCard Your travel payment card WELCOME! GET READY TO USE YOUR CARD WITH COMPLETE PEACE OF MIND. You ve just received your new BMO Prepaid Travel MasterCard the
More informationLaCARTE PURCHASING CARD FREQUENTLY ASKED QUESTIONS
LaCARTE PURCHASING CARD FREQUENTLY ASKED QUESTIONS 1. I have a LaCarte purchasing card; can I use this card for purchasing airfare services? An employee s individual LaCarte purchasing card CANNOT be used
More informationTake Control of Your Company s Expenses
Take Control of Your Company s Expenses What if every expense report were timely, accurate and in compliance? If your company is looking to cut costs and gain better control of its expenses, Insperity
More informationTable of Contents: Chapter 12 PCard
Table of Contents: Chapter 12 12.1 Program Summary... 2 12.1.1 Services of the Travel Card... 3 12.2 Internal Controls... 3 12.2.1 Detailing Segregation of Duties... 3 12.2.2 Tracking Cardholders... 4
More informationArkansas Tech University Procurement Card (P-Card) Program Policies and Guidelines Manual
Arkansas Tech University Procurement Card (P-Card) Program Policies and Guidelines Manual March 5, 2013 (revised) Policies and guidelines will be changed to meet the needs of the Procurement Card (P-Card)
More informationTravel Card Guidelines and Procedures
Travel Card Guidelines and Procedures A. Purpose To establish the limits and define the usage of the Kutztown University/East Stroudsburg University (ESU/KU) Shared Services Travel Card (TRAVEL CARD).
More informationState of Minnesota Minnesota State Colleges and Universities Pine Technical College Purchasing Credit Card Policy and Procedure Page 1 of 5
Page 1 of 5 Policy Number: 413 Date: April 25, 2005 Division/Department: Business Office Revision Date: N/A Author: Ron Scherman 413.1 AUTHORITY: System Procedure 7.3.3, Credit Cards, provides authority
More informationTravel Card Guidelines
State of Mississippi Office of Purchasing, Travel and Fleet Management Travel Card Guidelines Policy & Procedures Manual This Manual will provide the user with policies and procedures necessary to remain
More informationReview of the City of Edmonton s Corporate Procurement Card Program
Review of the City of Edmonton s Corporate Procurement Card Program May 29, 2006 Office of the City Auditor This page is intentionally blank. Office of the City Auditor Table of Contents Executive Summary...
More informationColorado State University Quick Reference Guide to University Travel
The following rules and definitions apply to all travel paid with University funds---no matter the source of the funds---and to all individuals engaged in such travel, whether officers, faculty, staff,
More informationAP 571 PURCHASING CARD COMMERCIAL CREDIT CARD PROGRAM
AP 571 PURCHASING CARD COMMERCIAL CREDIT CARD PROGRAM BACKGROUND This procedure is for the use and control of purchasing cards (a commercial credit card) for the purpose of obtaining goods and services
More information