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Companies are challenged today to find more effective and efficient ways of conducting business. One area which is gaining attention is the cost of processing and accounting for small dollar purchases. Most companies, even those with aggressive EDI programs, report average costs for processing purchase orders from requisition to payment at $40 to $200 per order. The average savings per transaction attributable to Purchasing Cards is $68.** For this reason, many companies are moving to Purchasing Card programs.
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The Elan Visa Purchasing Card is specially designed to provide emerging, middle market or large corporations with the ability to quickly consolidate, analyze, monitor and control their small dollar, business-to-business purchases. This service provides an overall simple, efficient and cost effective solution to a somewhat cumbersome process. Industry data confirms that 90 percent of corporate purchases are for $5,000 or less and are done the traditional way, which is paper-intensive and costly.
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- Streamlined Purchasing System
The Elan Visa Purchasing Card reduces purchase processing costs, improves purchasing's productivity, increases operational efficiency by replacing purchase order paperwork, enables faster receipt of goods, reduces number of payments required, and improves the company's bottom line.
- Built-In Spending Controls
Allows for flexibility in setting appropriate employee spending limits, including daily, weekly and monthly limits, single dollar transaction limits, and the ability to block inappropriate purchases by vendor types.
- Flexible, Centralized Billing
Accommodates company's particular accounting requirements, and provides complete detailed records of purchase transactions.
- Comprehensive Reporting
Provides key information to help support tax reporting activities, and allows for more accurate tracking of number and amount of small dollar purchases to help achieve greater leverage in vendor negotiations.
- Electronic General Ledger Interface
Companies can receive a transmission of transaction data, pre-coded with their accounting code. They can use this to electronically upload data to their accounting system.
- Optional Web-Based Applications
Clients can review transactions and download reports from a secured webserver.
- Corporate Liability Protection
To protect against employee misuse of a card, corporate liability insurance is provided at no additional cost. The company is protected up to $15,000 for each employee.*
- Worldwide Acceptance
Provides instant purchasing power at 19 million locations worldwide, including wholesalers and distributors.
- Theft Protection
Customers are not responsible for unauthorized charges as soon as the card is reported lost or stolen. Replacement cards are sent within 48 hours.
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To get in touch with one of our specialists call 1-866-274-5898
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* Certain coverage conditions apply. Complete details will be provided upon approval or request.
** 2000 Corporate Purchasing Card Benchmark Survey, by Richard Palmer.
If you need assistance using our website, please call 1-877-334-0460
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