Purchasing Card Programs

Companies are always looking for ways to close the gaps in the accounts payable process.  Implementation of a Purchasing Card Program to cover incremental goods and service expenses under $500 is a effective way to control expenses, while also bringing in revenue from interchange fees.  With these upsides there’s no reason to delay getting started.

Vitex can help you implement a purchasing card program, with no software investment, that can:

• Reduce processing costs
• Streamline AP operations
• Capture detailed transaction info on purchases
• Control expenses that start at point of purchase
• Generate quick payback

The card is only to be used for approved business purchases and allows authorized users to purchase non-restricted commodities, by telephone or in person, directly from the vendors and delivers benefits to all involved groups:

Your Company
Built-in card features make the program easy to control and manage and reduce processing costs at all levels by minimizing the number of procurement related invoices and checks.

Eligible Cardholders
Obtain goods directly from vendors without the need to process each invoice through accounts payable (receipts are still required). This can help improve turnaround time on the delivery of your order and significantly reduces the workload and processing costs related to purchases with a total value of $500 or less.

Your Vendors
Vendors who accept MasterCard/VISA appreciate purchasing cards, as they do not require invoices for business purchases and ensure payment within 48 hours. All they need to do is send a paid receipt to the Cardholder for record-keeping.