Helping you to pay high volume suppliers with increased efficiency.
Our Corporate Purchasing Card helps you save time and money when making and reconciling high volume purchases.
Using our procurement card to manage this spend helps speed up your procurement and reconciliation processes, while reducing administration and enhancing supplier relationships.
- Invoice processing efficiencies and automation of VAT reclaim with over 16,000 UK-based Visa VAT-enabled suppliers.
- Optimises working capital with up to 45 days to pay credit on Sterling purchases.
- Improves visibility over cardholder spend with all transactions detailed on statements and via a Data Management system.
- One consolidated statement and one automated payment for settlement to Lloyds Bank each month.
- Make contactless payments on transactions up to £100 at participating retailers (equivalent $157 and € 122 on accounts billed in US Dollar or Euro).
- Makes suppliers financially stronger with funds received quickly in as little as three/four days from order being placed.
- Provides low cost financing and ability to accept immediate payment online or by telephone.
- Reduces administration as virtually eliminates the need to issue and chase invoices.
Control & Security
In-built spend controls, single transaction limits and merchant category blocking can be applied for each cardholder to work alongside their monthly spending limit.
Visibility over cardholder spend is greatly improved with all transactions reported on statements and via our Data Management system.
A Corporate Purchasing Card programme can increase the visibility of your supplier spend. As well as improving your working capital, the data we supply can be used to negotiate better pricing and develop a preferred supplier list.
Reporting & MI
Enhanced MI can be tailored to match your organisation’s needs. Additionally, raw data files can be uploaded directly onto your own accounting systems.
You can create a range of reports, including:
- Cardholder profile reporting – detailing accounts, authorisations and allocation values.
- Merchant reports – summary of all transactions per merchant.
- User profile reporting – list of data for individual cardholders.
- VAT report – accredited tax reporting on transactions, categorised as “evidence” or “non-evidence” for VAT reclaim.
- User audit report – list of modifications administered by each cardholder.
- Transaction report – summary of all transactions per cardholder.
For more information about how our Corporate Purchasing Card can enhance your business efficiency enquire online.