Are Purchasing Cards the latest trend in the collectibles industry? Trading cards with your favorite Purchasing superhero? Well, we can dream about that for the future! Many business people in diverse businesses such as Donald Trump, Jack Welch, Martha Stewart, Warren Buffet have become household names. Who's to say that a Purchasing expert won't attain that status someday?
Alas, focusing on the present, Purchasing cards (often referred to as P-Cards) are credit cards used by Buyers to pay for goods and services. They can be used either in place of Purchase Orders or in conjunction with them as the method of payment.
I've worked both with and without P-Cards and believe, P-Cards are better. I worked for a company that stubbornly refused to issue them to Buyers. I honestly don't know what the problem was. I even once found a set of RFP's (and responses) that had been issued for them. Somehow the decision was made not to go ahead with the project.
Interestingly, a few Buyers had T & E (Travel & Entertainment) cards, but they were not allowed to use them to purchase goods.
In part 2, we'll talk about the pros and cons of using P-Cards. Also, check out this article for an in depth look at the topic.
Does your company use Purchasing cards? Do you like the way the program works?
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