Mitigate risk and assess the fraud potential of payment cards with a complete look at strategy, policy, and procedures.
Most organizations recognize that a large number of check payments made for low-value items to a large amount of suppliers is costly and inefficient. The transactional, or processing cost, of using a traditional procure-to-pay process, often requiring a requisition, purchase order, invoice, and check payment, is costly and inefficient. Many times, the cost to process small dollar purchases can exceed the value of the item being purchased. To create a more efficient process, many organizations have switched from these traditional methods to a purchasing card system and have seen savings ranging from 55% to 80% in processing costs. Purchasing Cards provide a means for streamlining the procure-to-pay process, allowing organizations to procure goods in a timely manner, reduce transaction costs, track expenses, take advantage of supplier discounts, reduce or eliminate petty cash payments, and gain general overall resource efficiencies. A Purchasing Card (P-Card) is a type of commercial card that allows organizations to take advantage of the existing credit card infrastructure to make electronic payments for a variety of business expenses. A successful Purchasing Card Program starts with thorough planning long before the program is implemented. This topic will provide you with vital information to illustrate the anticipated savings, risk and mitigating controls, and resources needed to make the business case for initiating or growing a viable Purchasing Card Program.
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Purchasing
- The Procurement Process
- Methods of Payment
- Procurement's Role
Purchasing Cards
- What Is a Purchasing Card?
- Benefits of Using P-Cards
- Disadvantages of Using P-Cards
Mitigating Risk
- Setting Controls
- Establishing Limits
- Card Restrictions
Virtual P-Cards
- Ghost Cards
- Card Shuffler
- Declining Balance Cards
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on January 18, 2023.
Call 1-866-352-9540 for further credit information.
- AIPB 1.0
- This program is acceptable for 1.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- ISM 1.0
- Participants who successfully complete this program will receive 1.0 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Larry Hammond, Sr.
V1H Consulting
- Principal with V1H Consulting
- Through his workshops, strategy sessions, and keynote addresses, he focuses on helping organizations that are stuck in the way it has always been done, thinking without ever achieving true satisfaction, to transform
- By producing an organizational culture that creates a contagious leadership environment, helps organizations to achieve maximum performance, increase employee retention, and heighten employee engagement
- More than 20 years of senior leadership, coaching, training, and development experience
- Mentor in business, marketing, sales, human resources, entrepreneurship, and leadership in public agencies and community organizations
- Facilitated management and employee feedback sessions
- Coaches leaders and managers in public and private industries around team building and culture development
- Developed, delivered, and evaluated a variety of training seminars, including, customer service, change management, strategic planning, leadership development, and public speaking
- Provided leadership training to Leadership Pasadena, a leadership program that empowers, inspires, and connects leaders who strengthen a diverse community
- Designed, developed, and delivered management and leadership programs for managers in the public, private, and nonprofit sectors that helped clients improve employee and organizational performance
- Certified in Managing Organizational Change (MOC)
- 34 Strong Certified Strengths Coach
- Completed graduate courses in public administration from Catholic University, Washington, D.C., and in information technology, University of the District of Columbia
- M.A. degree in public administration, The Tseng College-Graduate, international, at California State University, Northridge; B.S. degree, Clark Atlanta University, Atlanta, GA
- Can be contacted at 626-379-4108 or [email protected]
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
