3–5. Negotiate Procurement Card Rebates
If a company has shifted a large part of its purchases to procurement cards, then this represents a significant revenue source for procurement card companies. Once a company has built up a sufficient volume of procurement card business, it is in a position to negotiate for better terms with its procurement card supplier. One of the best such deals is to obtain a rebate percentage that is tied to the volume of payments made with a specific procurement card.
This best practice is not available for smaller procurement card programs, but if a company can surpass about $5 million per year in card purchases, then it can bargain for a small rebate percentage that can increase as its purchases increase. Initial rebates are extremely small, but can reach 0.5% for very large procurement card programs.
Cost:
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