Prepaid procurement and supplier payment cards enable our clients to simplify the purchase of goods and services from their suppliers especially from small to medium sized organisations. Prepaid cards benefit the organisation making the purchase and the supplier receiving payment.
- Reduce administration:
- Simplify processes and reduce costs for approving, reviewing and controlling payments to suppliers.
- Purchasing budgeting: prepaid cards provide the tools for controlling and facilitating purchasing budgets.
- Project management: prepaid cards provide the tools for managing project budgets and lessening the order-to-pay cycle to obtain goods and services needed to complete the project.
- Improve control:
- Prevent overspending of purchase order approval limits and individual authorisation limits.
- Remove the need for petty cash.
- Remove unapproved spending by restricting where funds can be spent.
- Control costs by setting spending limits for each card and customising these by individual, department or project.
- Superior information
- Improved purchasing power through easy access to knowledge of how much is spent on a category and individual suppliers.
- Supplier benchmarking to target cost reductions.
- Budget management: removes uncertainty of knowing how much is outstanding to suppliers and therefore enables production of more accurate monthly accounts.
- The option of electronic reporting of VAT requirements.
- Supplier benefits:
- Improves cash flow for suppliers by being paid quicker and with greater reliability.
- Reduces administration in chasing clients for late payments.
- Retain existing clients and attract new clients by supporting an advanced payment method which can support enhanced data provision.