Actions to Increase Card Payments
While there are no gold medals for Commercial Card program excellence, there are numerous benefits. Every organization has room to grow. Take a cue from athletes by seeking continuous improvement.
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What You Can Do
Consider the following actions, but also go beyond this list to do what will reap the greatest reward for your organization.
Grow or implement electronic payables (ePayables).
Expand allowable purchases for traditional Purchasing Cards and change your policy accordingly.
Identify additional employees who could benefit from having a card.
Mandate card usage for targeted purchases.
Improve or expand training.
Meet with departments one-on-one to discuss their opportunity.
Publish more metrics to demonstrate the value of card payments.
Initiate a supplier campaign to increase card acceptance.
Engage with your card issuer to determine your opportunity and how they can assist.
Where Does Your Organization Stand?
How has your organization already excelled? What are your future plans? In reality, a multi-faceted approach is ideal and often necessary. For example, mandating usage and/or expanding allowable purchases might also require issuing more cards and/or raising limits. What is stopping your organization from pursuing program improvements?
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