1 Save Money with the use of Procurement Cards PASBO 47th Annual Conference Hershey, PA March 14, 2002 Presented by: Ray Abbott Vice-President, Government.

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Presentation transcript:

1 Save Money with the use of Procurement Cards PASBO 47th Annual Conference Hershey, PA March 14, 2002 Presented by: Ray Abbott Vice-President, Government Banking National Penn Bank

2 The Procurement 90/10 Rule 90% of Transactions $5000+ < $ % of Dollars $5000+ < $5000 Small Dollar Transactions (< $5000) as a Percent of Total Small $ purchases make up 90% of your transactions, but only 10% of your $ spend

3 What Do Employees Purchase? Spare Parts Office Equipment Facility Maintenance Flowers / Gifts Software Subscriptions Vehicle Repairs Office Equipment Repairs Asbestos Removal Rental Equipment Safety Supplies Training Computers Catering Fuel Furniture Plumbing HVAC Landscaping Cellular Phones and Pagers Uniforms Ground Maintenance Trade Shows Inventory Courier Services Construction Licenses Health Services Contractors Consultants Temporary Services Hazardous Materials Employee Recruiting Employee Relocation Insurance Premiums Short Term Leasing Snow Removal Plant & Floral Maintenance

4 Typical Purchasing Process 4Paper Intensive… long cycle times 4Multiple Departments Involved 4High Cost Requisition - Req. For Quote - Quote - P.O. - Invoice - Packing slip - A/P Entry - check - postage - envelopes - bank entry - bank charges - reconciliation - exception processing...

5 Purchase vs. Processing Costs $250 Low -- Ave -- High $50 $75 $150 Processing is paper intensive, involve multiple departments, high cost

6 The Purchasing Card Process Manager Employee Supplier Sets CostUses Card to order Receives Authorization GuidelinesGoods from Supplier through Visa Network Monitors MonthlySaves receipts Statements Verifies charges Receives payment monthly/forwards within 3 days for approval/filing

7 Lower Cost P Card Method Reduces Purchase order paperwork  Eliminates 3 way match in A/P Reduces check volume  Includes costs of checks, postage, bank charges, time Provides G/L feed to eliminate manual data entry  Frees up A/P staff

8 Purchasing Card Spending Controls 7No cash (or limited cash) 7Monthly Credit Limit 7Single transaction limit 7Daily Limits 7Merchant Category Code (MCC) blocking Customized by cardholder

9 Reporting 35+ Standard Reports  Detail by Cardholder  Vendor summaries  1099 reporting Ad Hoc Reporting  Via Internet Access  GL Integration

10 Next Steps Determine your P Card Potential  Complete/Spending Analysis  Finalize total $ spending potential (include T&E as option)

11 Determining Your P Card Potential Perform Frequency Distribution of procurement  # of transactions and dollar amount at various transaction size levels < $500 $500 - $1000 $ $5000 $5000+  Determine if travel expenses will be put on card

12 SUMMARY Cost Savings & Increased Efficiency Eliminates paper documents and paperwork flow Enhanced tracking and audit Consistent purchasing process regardless of amount Ideal for low dollar, frequent transactions