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Visa® Purchasing Card

First Tennessee's Visa® Purchasing Card is a payment card for business expenditures. Spending limits and controls can be customized to meet your company's needs. The Purchasing Card streamlines the purchasing process, particularly for small-dollar purchases, and helps reduce the costs of procurement.

Product Features

  • Spending controls based on each employee's purchasing authority
  • Comprehensive Online Reporting – tracks spending by suppliers, employees, within departments, etc.
  • Visa® Liability Waiver Program – protects companies from card misuse by terminated employees, up to $100,000 per cardholder

Product Benefits

  • Keeps you in control and gives your employees the ability to buy the items they need
  • Reduces administrative costs for procuring and paying by as much as $69 per transaction*
  • Increases your purchasing efficiency and reduces cycle time through decentralized purchasing and empowered employees
  • Improves managerial control by providing transaction spending reports
  • Improves your relationship with suppliers through faster payment without negatively impacting your cash flow
  • Provides spending data by supplier – useful for price negotiation

Payables Automation

Visa® Payables Automation is an electronic payment service that can be added to your Visa® Purchasing Card program to make paying suppliers more efficient. It allows you to send accounts payable files directly to Visa® from your ERP or accounts payable system, eliminating processing steps for you. Once you sign up, Visa® will assign a purchasing card account to each of your strategic suppliers to receive payments. Which means you'll have more time to focus on other responsibilities.

Demo

Download video (right click and Save As...):
.wmv format | .mp4 format

* Source: "2007 Purchasing Card Benchmark Survey Results" – RPMG Research Corporation.

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