Done right, company purchasing cards can save you tons of time and headaches. But few companies really do it right.

Inefficient procedures, lack of company-wide usage, etc., can curb the value of any card program you put in place.

Fortunately, VISA has released an updated and expanded best practices study to help you make the most of whatever system you’re using. And if your company is just getting ready to dip a toe in the waters, it’s a great resource for figuring out what features you need — and what you can safely steer clear of.

Key points

The study looked at the entire procure-to-pay (P2P) process and found that the most important best practices were:

• Automating from start to finish
• Integrating the card program into company-wide initiatives
• Getting active support from upper management
• Developing integrated controls, and
• Using the full extent of reporting and spend analysis tools.

To get more ideas for how to make your own company’s card program more valuable and efficient, check out the full report.

Tags: A/P, A/P resource, Cost cutting, Purchasing cards, Resource, Technology