What is a P-Card?
Purchase cards—also known as P-Cards or procurement cards —provide businesses with significant opportunities to streamline processing and improve working capital. By replacing paper invoices and manual systems, P-Cards help businesses cut operating costs, automate expense reconciliation processes and provide valuable insights on spend patterns. In addition, risk controls are enhanced and quicker payments improve supplier relations and help businesses earn valuable rebates and discounts.
Reduced administrative costs in an accounts payable department frees up resources for other priorities.
IMPROVED WORKING CAPITAL
Improved Working Capital Delaying the payment of purchases for up to 30 days increases working capital.
POTENTIAL ECONOMIC INCENTIVES
P-Cards provide the opportunity for revenue share in the form of a cash rebate back to the buying organization.
Automation of expense reconciliation processes provides more transaction data and better spend analysis.
STRENGTHENED FRAUD MONITORING CAPABILITIES
Real-time online tools can improve account-level controls.
FASTER PAYMENT TRANSACTIONS
Quicker payments can lead to preferred vendor status.
The Mastercard Corporate Purchasing Card is the better way to manage corporate purchasing.Using this tool, companies can save time and money by streamlining a labor- and time-intensive purchasing process. Paperwork can be reduced or eliminated, and management can exert front- and back-end controls through the
card’s authorization system and comprehensive information reporting.