Payment Systems
Installation of a corporate travel, procurement, and/or fleet card program will provide opportunity for cost savings. These programs can generate increased cash flow. Vendor payment occurs once or twice a month to one source compared to potentially hundreds of individual travel and entertainment and MRO direct accounts payable payments. Program consolidation decreases administrative costs and it increases controls on corporate spending.
Some of the benefits include:
- Reducing staffing in A/P and corporate administration due to a reduction in the number of invoices.
- Consolidating buying power for all corporate MRO and travel purchases.
- Eliminating small invoices, which cost more to process than the amount of the invoice.
- Increasing treasury cash flow control via periodic and predictable payment.
- Minimizing the need for employee cash advances since out-of-pocket travel expenses can be paid with the travel card.
TCG will evaluate your scenario and provide financial projections and program goals for a customized corporate payment system. Our knowledge of the many corporate card vendors and our experience implementing such programs for our clients will deliver a competitive and valuable cost savings opportunity to your company.
TCG Consulting can lead your project through the various phases such as initial assessment, program sourcing, implementation, compliance monitoring and ongoing program management.