policies and procedures Archives

February 21, 2023 | Expense Tips

Challenges of Monitoring Expenses When Cardholders Circumvent Transaction Limits

For procurement and finance professionals, monitoring expenses is a critical component of managing budgets. Unfortunately, cardholders can sometimes circumvent transaction limits using several split-transaction strategies. In this blog post, we will discuss the challenges associated with monitoring expenses when cardholders attempt to circumvent transaction limits, violate policy by doing so, and how to best manage

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December 12, 2022 | Policy Compliance

Getting the Word Out: Communicating Policies and Procedures

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

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November 21, 2022 | Policy Compliance

Two Internal Controls That Managers Need to Communicate to Cardholders

Here are two essential internal controls that managers and administrators need to communicate to protect a company’s card program.

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November 9, 2022 | Card Program Essentials, Policy Compliance, Program Goals

Green Flags: Communicating Positive Purchasing Behavior to Increase Visibility and Confidence

Communicating positive purchasing behavior to employees who purchase goods and services for the organization often remains overlooked by approving managers or the central review team. Focused on red flags with potential for fraud or misuse, communicating the risky behavior takes priority. A follow-up by managers of these risks takes precedence to help reduce or stop

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August 25, 2022 | Best Practices, P-Card Expense Monitoring, Program Goals

9 Best Practices to Make the Most of Your P-Card Auditing

P-Cards, or purchasing cards, are a great way for organizations to streamline their purchasing processes. However, P-Cards can also be a source of fraud and abuse if they are not properly managed. This is why it’s important to have strong procedures in place for your P-Card. In this blog post, we’ll share some best practices

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December 12, 2019 | Best Practices

A Card Program Best Practice: Aligning Policy with Card Program

Aligning an organization’s purchasing policy with a card program is a vital step toward maintaining the financial health of your business. Card programs are ever-changing and policies should also reflect this change. Updated policies will help an organization to manage contract compliance, credit card security, as well as cardholder purchasing habits. To stay current with

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