Procurement Cards (PCards) allow employers to skip a traditional purchasing or accounts payable process, providing employees with access to a company card. As employers can customize the cards for approvals, spending limits, day and time constraints and purchasing restrictions, the customizations may not truly allow for an evaluation of all associated risks.
The PCard application allows employers to monitor PCard spending, easily identifying anomalies from policy requirements, and proactively detecting fraud or misconduct. Leveraging data analytics can uncover strategic, data-driven insights, pinpointing weak and strong areas internally, with user-friendly audit reports available on-demand for use by key stakeholders across the business.