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 number of suppliers is a costly and inefficient process.
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.
In an effort 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 cost. Purchasing Cards provide a means for streamlining the procure-to-pay process, allowing organizations to procure goods in a timely manner, reduce transaction cost, 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 that will 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.
- You will be able to identify the types of business credit card programs.
- You will be able to describe the challenges associated with cards.
- You will be able to discuss real cases of procurement card fraud/lessons learned.
- You will be able to review how to identify high risk transactions.
This Live Webinar Covers These Hot Issues:
- Types of Business Credit Card Programs
- Why Use Purchasing Cards?/Benefits
- Determining How Cards Fit Into Your Overall Procurement Strategy
- Challenges Associated With Cards
- Separating Fears From Valid Risks
- Real Cases of Procurement Card Fraud/Lessons Learned
- Understanding the Fraud Triangle
- Understanding How to Create Effective Controls
- Components of a Bullet-Proof Card Program
- How to Identify High Risk Transactions
- Auditing Techniques
Credit Information (Sponsored by Lorman Education Services):
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Only registered attendee will receive continuing education credit.
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, he helps them to achieve maximum performance, increase employee retention, and heightened 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 industry 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
- Master’s degree in public administration, The Tseng College -Graduate, International, at California State University, Northridge; B.S. degree, Clark Atlanta University, Atlanta, GA; also completed graduate courses in public administration from Catholic University, Washington, D.C. and in information technology, University of the District of Columbia
- Can be contacted at 626-379-4108 or email@example.com