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Commercial Payment Cards: Cutting Costs and Boosting Control on a Global Stage |
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In an age where corporate spending is subject to the highest level of scrutiny and control, commercial cards offer enterprises a means to closely track spending and provide a faster and more efficient payment process.
Leveraging purchasing cards and corporate cards can assist an enterprise in streamlining the payment process for many key spend categories -- T&E (travel and entertainment), MRO (maintenance, repair and operations), office supplies and many more. This research effort by the Aberdeen Group, a Harte-Hanks Company documented the insights of 263 enterprises globally (North America, Europe, Asia-Pacific and Latin America). The "Global Commercial Payment Cards" report found that the average processing cost per transaction with a P-card is 70% to 75% lower than manual methods of payment. Although Aberdeen's newest research endeavor discovered many common similarities between the four major regions surveyed, the report also generated some major differences, for example: - -- North Americans have achieved the highest level of maturity with P-card programs; 75% of enterprises in this region have had a program in place for at least 3 years, and 50% have had one for more than 6 years.
- -- Concerning P-card programs, a major priority for 80% of enterprises in the Asia-Pacific is to ensure auditable procedures, controls and fraud protection.
- -- Latin American enterprises are aggressively pushing for card program compliance: 60% of enterprises in this region are auditing every corporate card expense.
- -- The majority of European enterprises (56%) believe that increasing the number of employees provided with a corporate card will drive growth in a corporate payment card program.
This study is made available to the public through the underwriting of: VISA, and ACTE. To learn more about practices and strategies employed around payment cards in the various regions, download a complimentary copy of the "Global Commercial Payment Cards" report, please visit: http://www.aberdeen.com/link/sponsor.asp?cid=3945 |
