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 »
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
A Card Program Best Practice: Aligning Policy with Card Program 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 »
P-Cards, or purchasing cards, are a great way for organizations to streamline their purchasing processes. However, P-Cards (really, any company-issued credit card, including travel 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
9 Best Practices to Make the Most of Your P-Card Auditing Read More »
Company policies and procedures do matter, and they are at the foundation of any corporate card program.
How Cardholder Training Protects Your Organization’s Finances Read More »