Credit cards can save time and money.Is your company accounts-payable department inundated in·un·date tr.v. in·un·dat·ed, in·un·dat·ing, in·un·dates 1. To cover with water, especially floodwaters. 2. with paper invoices and expense reports? Are they spending hours reconciling petty-cash requests? Are your employees frustrated frus·trate tr.v. frus·trat·ed, frus·trat·ing, frus·trates 1. a. To prevent from accomplishing a purpose or fulfilling a desire; thwart: with the time they need to spend filling out expense reports and purchase orders? Are you looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to streamline your processes, save money, consolidate suppliers and maximize the investment in your ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. system? A commercial card may be the solution to these dilemmas. Whether your company is a large corporation or a medium-sized one, commercial cards are a convenient way to streamline your company's purchasing and expense-management processes--while improving both spending controls and supplier management. Imagine a world where your employees carry a single card to pay for everything--from travel and entertainment, to supplies, to fleet expenditures. No need for multiple credit cards. No more cash advances. Reduce Costs Commercial cards streamline purchasing, expense report and fleet processes--eliminating time-consuming, manual three-way matching. By eliminating redundant processes and allowing employees the power to make purchases for your company, you can lower your costs. Research indicates that using a commercial card can reduce invoice processing costs by 50 percent. Easy for Employees For their part, employees welcome using a single commercial card to manage expenses, rather than two or three other credit cards, each with their own set of rules. Employees no longer need to spend their time filling our paper-intensive expense reports, many commercial card programs offer online statement reconcilement and allow for entry of out-of-pocket expenses out-of-pocket expenses n. moneys paid directly for necessary items by a contractor, trustee, executor, administrator or any person responsible to cover expenses not detailed by agreement. for electronic reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. . Employees also appreciate no longer having to use their personal credit cards to juggle company and personal purchases. And with the growing popularity of e-procurement, purchasing supplies and equipment over the Internet, a single commercial credit card makes it easy for employees to conduct secure, convenient transactions. Good Information Saves You Money Consolidated reporting, available through most commercial card programs, offers you a clear picture of all employee expenses, created from a single source of information. A consolidated, customized report, not only helps you better monitor expenses, it helps you make better, more informed purchasing and vendor decisions (and more consolidated detail about your vendors gives you the power to negotiate supplier discounts). According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a study by Deloitte Touche, strategic sourcing can result in savings from 15 to 20 percent. Often commercial credit card companies can deliver their reports through the Internet, your company's intranet or through specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. desktop-reporting software--so you can further streamline reporting electronically. And transaction data can be easily integrated into your accounts payable or ERP system. Stay in Control Many commercial credit cards can be tailored to each employee's individual purchasing needs, giving them authority and autonomy to pay for travel, equipment and supplies, and fleet expenditures--but only under the usage guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. you specify. You can determine the kind of expenses the card accepts and purchase limits for employee cards. Most commercial credit cards also offer built-in liability coverage to protect your company from unauthorized employee use of the card. Known Brands Make for Worldwide Acceptance Finally, your company's commercial card will most likely find acceptance anywhere in the world your company does business. Most commercial card suppliers offer cards backed by such well-known brands as Visa * or MasterCard *. Internationally known and accepted firms complete your company's transactions, wherever your business takes you or your employees. And in an era of increasingly global business, a commercial card backed by an international brand can save you time, money--and trouble. Making the Most of a Commercial Card What kinds of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. can be purchased with a commercial card? * Facility and equipment maintenance * Computer software, peripherals and supplies * Airline tickets, hotel and restaurant expenses * Central and branch-office supplies * Sales, marketing and promotional expenses Noun 1. promotional expense - the cost of promoting a product business expense, trade expense - ordinary and necessary expenses incurred in a taxpayer's business or trade * Trade show and meeting expenses * Plant management and equipment services * Field-office expenses * Contracting services How do I make sure employees don't buy items they shouldn't or exceed their authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: limits? Commercial cards typically come with the following controls available to you: * Dollar limit per transaction * Daily spending limit * Monthly spending limit * Limited number of transactions (per day or per month) * Limit to specific suppliers, merchants or vendors How will a commercial card save my company money? Most companies save money through: * Reduced paperwork and errors * Reduced (or eliminate) internal processing * Improved purchasing operation efficiency * Improved negotiation position with key suppliers and vendors Debra Hart is a treasury management specialist for the Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. RCBO RCBO Residual Current Circuit Breaker with Overcurrent Protection in Woodland Hills. |
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