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

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

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

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

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