Maximize Your Card Program: 8 Questions You Should Ask Yourself

01/01/2013

Because no two organizations are alike, it’s important to figure out how best to fit a card program into your organization. The following are some basic questions that you should consider when looking at how cards can improve their operations, and when talking to a banking partner about the specific solutions which might help achieve your objectives:

• Do you have executive buy-in for a card solution?
• Do you have a good strategy in place for managing how you’re going to adapt payments on the card or get movement to electronic payments?
• Do you have the proper mix of card applications (AP, Ghost/Supplier Cards)?
• Are you using cards as an effective component of your supply chain financing?
• How are you making payments today and how can you increase adoption of cards to reduce check and petty cash payments?
• Have you obtained cross-functional support from departments such as Purchasing, IT, Tax, etc.?
• Do you have a good review process?
• Have you made provisions for comprehensive training and communications?