Procurement cards

A procurement card is a bank credit card that is given to company employees so that they can buy items.

These are some of the benefits of using procurement cards:

  • Buying process is streamlined. You avoid having to create requisitions and purchase orders.
  • Time and purchasing costs are reduced, especially for low-value items that you frequently buy.Buying process is streamlined. You avoid having to create requisitions and purchase orders.
  • Quick payment to vendors and rebates from the card provider are maximized.
  • All spending data is captured for easy reporting of both purchase orders and procurement card purchases.

The buying process is simplified because payments are made directly to the bank on a regular basis. As a result, fewer invoices are needed as compared to individually paying each vendor.