As consumers, nothing seems more natural to us than taking out a credit card and using it for online purchases or the things that catch our eye in the shops. Simple, easy to use, and with some cash flow benefits, too.
That same facility is available to companies, which are forever on the look-out for process efficiencies. While the idea of empowering employees by giving them their own purchasing cards, or P-cards, may seem like some kind of a threat to the authority
of the procurement function, the reverse is actually the case. All the evidence shows that the control structure, the improved transparency, the cost-savings and – whisper it – the revenue opportunities, provide companies with the sort of benefits that can only enhance the reputation and status of procurement.
P-cards can even improve procurement’s relationships with suppliers. Sounds like a valuable tool to have in the corporate wallet.