Procurement Cards
Procurement Cards, often referred to as P-Cards, are specialized credit cards used by organizations to streamline the purchasing process. They allow employees to buy goods and services directly, reducing the need for traditional purchase orders and invoices. This can lead to faster transactions and improved efficiency in managing small-scale purchases.
These cards are typically issued to employees who have specific purchasing responsibilities. Procurement Cards help organizations maintain better control over spending by providing detailed transaction records, which can simplify budgeting and reporting. Additionally, they often come with built-in spending limits and restrictions to ensure compliance with company policies.