Achieving an Optimal Procurement Card (PCard) Program

The document provides guidance on achieving an optimal procurement card (pCard) program. It emphasizes the importance of considering a pCard program to maximize administrative efficiencies and revenue. The guidance suggests implementing a pCard program and discusses the authority and placement of the program within the procurement or finance department. It also discusses the structure of a pCard program, including centralized, decentralized, or hybrid approaches. The document provides steps to optimize a pCard program, such as changing program mission and vision statements, maximizing discounts and rebates, establishing minimum thresholds for pCard purchases, implementing program controls, defining roles and responsibilities, and maintaining executive-level support. It highlights the importance of mandatory training for cardholders and risk mitigation through audits, controls, and monitoring. The team should conduct periodic external compliance audits to ensure adherence to policies. Policies are established when a pCard program is first put into place. The document concludes by emphasizing the need for policies and maintaining cooperation and communication between procurement and finance departments.