Ask around about procurement best practices and you’ll hear a pretty familiar list: don’t use department or shared cards, set sensible spending limits, put approval workflows in place, restrict merchant categories that have no business showing up on a statement. All good advice, and all of it has one thing in common. It’s decided before
Procurement Best Practices Start Before the Purchase Read More »
Communication. It’s a simple word, and it’s a simple action, and yet the lack of it threatens a commercial card program’s success. Are you communicating to your employees what they need to know? Here are two of the most important internal controls that managers need to communicate to cardholders to ensure a successful card program. Your
Internal Controls That Managers Need to Communicate to Cardholders Read More »
In order to maintain and grow your card program, changes are often required. As your goals and card policy change, it’s important to make sure employees are up-to-date with all the new developments. Fraud, card misuse, and abuse can occur in any organization. One of the best lines of defense against this is thorough card
4 Steps to Establish Effective Card Policy Training Read More »
When discussing ways to improve your organization’s internal spend controls, it is helpful to take a holistic look at your spend program as a whole to identify areas for improvement. Often, we find that organizations can make significant progress just by getting a better hold of their spend data. The data is there, it’s just
The Difference Between Spend Data Visibility and Transparency in Purchasing Read More »
In the world of purchasing and procurement, especially as it pertains to corporate credit cards such as P-Cards and travel cards, we have a tendency to focus on the negative. Fraud. Misuse. Abuse. Maverick spend. Split transactions. Wasteful spending. It makes sense to spend a lot of time thinking about problems that could be plaguing
No Luck Needed: Spotting Green Flags in Your Spend Data Read More »
Even during Spring Break, Higher Education purchasing card programs need to be on guard and watchful of cardholder spend.
No Spring Break for Higher Education Corporate Card Programs Read More »