Save time and money, gain control and strengthen your supply chain - the power is in your hands
In the current climate, every pound, every hour, must be spent as efficiently as possible.
Procurement cards are a crucial part of doing this – they can save organisations time and money, offer increased financial control and security while strengthening your supply chain.
Many organisations only use procurement cards for purchasing certain goods. Yet whatever you’re buying – stationery or energy, laptops or training – if you buy with a procurement card, you enjoy the benefits.
To help you get the most from your cards, our category experts have put together an interactive guide to help you unlock their power.
The 6 key benefits of purchasing with procurement cards
Procurement cards come with a wide range of benefits, especially for our customers who use them regularly throughout all areas of their business.
Here are the 6 key benefits you can look forward to when using procurement cards through CCS.
Whatever you need to purchase can be purchased with a procurement card.
- payments can be made using contactless, web and phone – quicker and more efficient than traditional payment methods
- cards can be lodged with your top spending suppliers, so purchases can be made without a physical card
- already introduced procurement cards to your finance system? Then it’s easy to extend their usage, for more purchases, across other suppliers
Save time and money
Procurement cards streamline the buying process, making them the most efficient way for your organisation to pay for goods and services.
- your finance team don’t need to raise POs or process invoices
- reconciliation and reporting are automated, reducing cost and error while freeing up resources
- using a procurement card typically saves around 35% in transaction costs or £5 per transaction compared with traditional methods
COVID-19 cashflow support
Cards speed up payments to suppliers and improve cash flow, making them a critical tool for organisations during COVID-19.
- faster payment isn’t at your expense – the cards work on a buy now, pay later basis
- as suppliers get paid within 4 days by the card provider, your supply chain and business resilience is strengthened
- payments are made ‘on credit’ by the card provider, so you’ll continue to accrue interest on the funds in your account up until you settle your account
Swift payment can often generate impressive discounts from suppliers. Many are willing to lower prices in the form of prompt payment discounts.
- on average, suppliers are willing to offer a 3% discount for being paid just 15 days earlier
- you will receive an annual rebate from your card provider that increases exponentially the more you spend
- tripling spend on procurement cards from £500k to £1.5m could quadruple your rebate
Monitoring and management information
Procurement cards can give you a powerful insight into your spending.
- suppliers provide monthly statements showing details of all purchases. They are also available online, showing transactions awaiting statement
- reports will help your organisation compare supplier costs and monitor purchasing behaviours, supporting future contract negotiations with suppliers
- you can use standard reports or setup bespoke ones, depending on your needs
Control and security
Giving you control and making your purchases safer.
- easily update card holder profiles to add or remove staff and set and amend spend limits for specific cardholders
- set and customise transaction limits for suppliers and merchant categories on the types of purchases that can be made
- all providers on the framework are PCI DSS accredited and conform to regulatory controls surrounding the storage, transmission and
processing of data
News and case studies
Already using procurement cards?
The power is in your hands.
Remember you can use procurement cards for all purchases
across any areas of your business.
- think about all of your expenditure – including current,
short and long term expenses and upcoming projects where
payments are needed
- work with your Finance Department and your card provider to
integrate your payments into your existing procurement card
- talk to your suppliers – see if they accept cards and, if not, ask
them to speak to their bank to enable card payments.
Let us bring power to your purchasing
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