Corporate procurement card solution

The Nedbank procurement card solution is setup according tothe company's reporting structure, so that transactions are not only reported on to the cardholder, but also to the department and to a central area in the company. The solution is customised to meet the company's billing policies, offering a 40-day interest-free payment term to either the cardholder or the company, whichever is specified by the company's expense claim policy.

'Our procurement card solution ensures constant visibility through highly advanced reporting mechanisms, which includes interactive electronic statements with item level detail,' says Privesan. Cardholders receive electronic statements that are consolidated to have a snapshot view of all the cards in the company. The user can drill down into each individual cardholder account and/or transaction and see how many pens the cardholder bought, for instance. Clients have the convenience of an online reporting and expense management tool, where transactions can be reported on a dashboard of their choice. The expense management package means a transaction can be validated as an in-policy transaction or out-of-policy transaction.

NedbankCorporate Card strives to assist companies to drive savings and maximise control of their expenditure, with direct savings of up to 60%, and its procurement card does just that.

For more information on Nedbank’s procurement solutions please send an email to cardsales@nedbank.co.za or call 011 294 2998.

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