P-Cards

Vendors may soon start charging more to customers paying by credit card, thanks to a $7 billion settlement reached between a retailer group and the two largest credit card companies. On July 13,… Read More

While purchasing card use increased across the board in 2011, growth in the virtual payment card arena significantly outpaced its plastic big brother. Total spending on virtual cards grew 67 percent

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This benefit is cited twice as often as any other benefit by the more than 200 AP professionals who responded to questions about p-card policies and procedures, growth opportunities, and internal

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IOFM contacted Schmidt to ask her to share her secrets about her successful AP operation and her AP best practices. What follows is Schmidt's description of her success with a recent implementation

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First, p-cards were originally designed and used most often for small dollar purchases. And capex expenditures rarely qualify as “small dollar.” Second, in most organizations capex expenditures

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By Pam Miller, APMD In contrast to what we may read in the media, the incidence of p-card abuse is not widespread. In IOFM's recent survey of p-card professionals, only 28.9 percent of respondents

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When the data is broken down by program size, the responses indicate that the larger the p-card program, the more likely there will be incidents of misuse. For example, 60 percent of the respondents

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Let's take a look at the five strategies most cited by respondents: 1. Convert more vendors to p-card payments. To overcome objections, AP must sell vendors on the benefits of p-card payments. The

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Accounts payable is generally expected to pay bills, not earn money. For many organizations, AP is regarded as a cost center. Approving and paying invoices is important, but is typically a

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Purchasing card program administrators have a difficult job. They develop and enforce the organization's p-card policies, training buyers on how to properly use the cards, auditing card activity, and… Read More