05 Jun Is it the end of the road for the purchasing card?
Posted at 06:48h in e-invoicing, e-Procurement, Electronic Invoicing, Financial Supply Chain Management, Purchase to Pay, Purchase to Pay Process, Purchasing Card, Supply ChainThe purchasing card is a great business tool. It empowers people to make purchases without the need for a complex and often expensive purchasing process. When a low value item costs less than the cost of the purchasing process itself, it makes sense to cut through the purchase to pay red tape. But the purchasing card is beginning to show it age. It hasn't really kept up with technological change surrounding it. The merchant fees are excessive, in a low interest rate economy the business case makes no sense and as far as reporting goes, purchasing cards have been trumped by electronic invoicing. Is it the end of the road for the purchasing card?