Most financial innovations entail risk and reward, and P-Cards are no different. Consider the following two recent examples ripped from the headlines.
Nixa Public Schools received a rebate of $31,431 through the Missouri School Boards’ Association’s procurement card program. The P-Cards save school districts money by improving controls over spending and reducing paperwork. This year, 39 Missouri school districts are receiving over $200,000 in rebates.
In all, five current and former DOE employees acknowledged that they abused their Education Department-issued procurement credit cards — known as P-Cards — for personal purchases and agreed to pay fines up to $2,500, according to a settlement announced Monday from the New York City Conflicts of Interest Board.
Of course, we make no judgments on the relative morality of the good educators in Nixa, MO and New York, NY.
We do, however, strongly assert that any P-card program should include a solution for substantially improving P-Card management beyond the limited solutions offered by banks and card providers.
Click here to learn more about DATABASICS’ P-Card solution. No matter where you live.
DATABASICS provides cloud-based, next generation Expense Reporting, P-Card Management, Timesheet& Leave Management Management, and Invoice Processing automation. Specializing in meeting the most rigorous requirements, DATABASICS offers the highest level of service to its customers around the world.
DATABASICS is relied upon by leading organizations representing all the major sectors of the global economy: financial services, healthcare, manufacturing, research, retail, engineering, non-profits/NGOs, technology, federal contractors, and other sectors.