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History of the P-Card The Purchasing Card Program began operating in Arkansas in September 2002 with the U of A and UCA being the first to have a managing.

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Presentation on theme: "History of the P-Card The Purchasing Card Program began operating in Arkansas in September 2002 with the U of A and UCA being the first to have a managing."— Presentation transcript:

1 History of the P-Card The Purchasing Card Program began operating in Arkansas in September 2002 with the U of A and UCA being the first to have a managing account with US Bank. State Agencies began using the P-Card in March The Game and Fish Commission was the first State Agency with the P-Card beginning with 5 cards. The following charts illustrate the programs growth.

2 Statewide P-Card Spending per Contract Period of May – April

3 Rebates Per Contract Period * Rebates were not earned during first 2 contract periods.

4 What Are the Benefits of a Purchasing Card?

5 Time Savings Receive goods faster Less time needed to pay bills Fewer checks written

6 Increased Vendor Selection P-Card is a VISA card, not store branded NO P.O. required Vendors get their money within 36 hours

7 Paper Savings No P.O. required Only one invoice per month Only one check per month Online reporting capability

8 Built in purchasing control Per month spending limit Per transaction spending limit Block vendors based on MCC numbers Access to cardholder account via the internet

9 Money Savings All costs associated with the procurement process are reduced. The breakdown on the next page illustrates this.

10 Cost Breakdown of PO vs. Purchasing Card* The total cost associated with payment for goods and services (including receipt and matching of invoices, purchase orders, receiving documents; approval workflow for payment, disbursement of funds; mailing/transmitting payment; post-purchase accounting for transactions; and reconciliation of disbursement with bank records) The total cost of the purchasing process (including activities to requisition a good, approve a purchase, and generate and deliver a purchase order to supplier) The total cost of sourcing (including specification of requirements, supplier pre-selection, transmittal of requirements to suppliers, receipt and evaluation of supplier quotations, supplier selection, and contracting) Purchasing Card Traditional Purchase Order $31.30 $31.75 $26.16 $89.21 $21.83 $7.60 $5.71 $8.52 * 2005 Purchasing Card Benchmark Survey Results – RPMG Research Corporation

11 Okay…. How does my organization get into the State Purchasing Card Program?

12 Steps to Getting the State Purchasing Card if Not a State Agency Contact DFA/OSP Complete Participating Agency Addendum and send in to OSP Send 3 years of audited financial information to OSP Establish a Purchasing Card Policy/Procedure manual (may use state version or hybrid version)

13 Dept of Finance and Administration - Office of State Procurement Purchasing Card Contacts Jeff Spears (501) Norma Little (501) Address: 1509 West 7 th Street, 3 rd Floor Little Rock, AR 72201


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