People are creatures of habit. When an employee with a corporate card or purchasing card (also known as a P-Card, procurement card, etc.) is going about their daily activities, they likely aren’t thinking too deeply about the details of every single transaction, as long as they feel that they are compliant with policy. The same […]
Proper Documentation: Good Habits for Corporate Cardholders Read More »
Allowing employees to make business purchases via online accounts—specifically Amazon Business—has gained significant popularity in recent years. It is now safe to say it is more than a trend, and there is a good chance your organization already uses it. Like all avenues of business purchasing, however, such accounts have their pros and cons. How
Amazon Business: Avoiding Personal Purchasing Pitfalls Read More »
When it comes to smaller corporate purchases for procurement or travel, P-Cards are a great tool to simplify the process. However, introducing, maintaining, growing, and managing a P-Card program brings its own set of challenges. Thankfully, there are plenty of best practices and keys to success that you can use to make things easier. It
7 Management Best Practice Tips for Your P-Card Program Read More »
The split transaction is one of the most common recurring instances of non-compliance that finance, auditing, and procurement professionals run into. A split transaction itself is relatively easy to define: it’s essentially when a transaction is “split up” into 2+ transactions with the intent of getting around a corporate credit card transaction authorization limit. There
Understanding Split Transaction Types Read More »
In the world of procurement and internal auditing, and policy compliance, it’s easy to focus on the negatives when we communicate with our cardholders on policy. Non-compliance. Split transactions. Fraud. Maverick/rogue spend. These are all important conversations to have, and it’s not always easy. It’s important to acknowledge and recognize cardholders in your organization that
Give Thanks to Compliant Cardholders This Holiday Season Read More »
You’ve taken the time to create policies and procedures that will help your credit card system run as smoothly as possible. Now don’t miss an important next step: Ensuring that your cardholders know those standards. Your policies and procedures (also known as “P&P”) won’t mean a thing if your cardholders don’t know them or don’t
Getting the Word Out: Communicating Policies and Procedures Read More »
