Citibank® Purchasing Card
The Citibank® Purchasing Card provides
an efficient, streamlined approach to purchasing and paying for an increasingly
wide range of goods and services needed to run your office…from
supplies to professional services…and everything in between.
But that is not all. Because the success of your purchasing program lies in the details—knowing when, where and how much your employees spend—Citi offers the most comprehensive and flexible transaction information available. The details we deliver will provide you with valuable negotiating power for dealing with your suppliers.
Data Management and Reporting
The Citibank Purchasing Card program offers a host of information management solutions that make it easier for government organizations in particular to comply with local regulations. Plus, all public sector organizations will benefit from the ability to easily monitor and enforce card usage policies, as well as better understand spending patterns and negotiate with vendors, with:
- Standard Reports: Monthly, quarterly or annual reports, designed to meet your management and accounting needs
- Citibank® Custom Reporting System: An easy-to-use application that lets you customize reports from more than 600 data elements
- Citibank® Electronic Reporting System: For receiving and managing files and reports online
- CitiDirect® Card Management System: Advanced technology for online card program administration, management and reporting
- Citibank® Online Statements: Online access to account statements for streamlined review and payment
Ongoing Consultative Support
A dedicated account team will create a program to meet your needs, or re-engineer and expand an existing one. Plus, your cardholders will enjoy round-the-clock access to knowledgeable customer service representatives.
An industry leader, Citi offers value-added features and benefits that surpass standard purchasing card programs – providing greater convenience for your employees and better control for you, including:
- Authorization controls to manage and limit employee spending
- Merchant category code definitions, limiting use to approved vendors
- The ability to capture and report on supplemental data from the point-of-sale
- A declining balance capability for short-term expenses such as relocation, uniform allowances, special events and unique projects or for emergencies and unforeseen situations
In addition, the Citibank Purchasing Card creates a more cost-effective, streamlined purchasing and payment process – enabling you to replace individual vendor payments and hundreds of separate invoices with one central payment to your supplier.
|Average Cost per Transaction||Average Time per Transaction|
|Pre-Purchasing Card Implementation||$83.09||54 minutes|
|Post-Purchasing Card Implementation||$22.98||14 minutes|
Your suppliers will also benefit from:
- Reduced DSO (Days Sales Outstanding) and increased cash flow—payment received in two days
- Assured payment—removes the burden of invoicing and collections