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Program Optimization services help clients make the most of their Visa Card Programs by identifying opportunities among their existing supplier base for increased card usage. By expanding Visa card use to include more suppliers and new spend categories, clients can save costs every time they use their Visa card, including streamlining their payment processes, saving valuable time and administration costs.
Paying suppliers with cheques is a costly paper and labour-intensive process. The Visa Supplier Matching Service identifies which of a company's Canadian and U.S. suppliers accept Visa cards as a form of payment.
With this information, companies can use a Visa Card Program to pay for many goods and services, and make one convenient monthly payment to their financial institution. As a result, reducing administration costs and collecting valuable spending data.
To find out more about the Visa Supplier Matching Service, contact your Visa Issuing Financial Institution.
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A Visa Issuing Financial Institution can use the Accounts Payable Tool with a company's payment data to analyze company spending patterns and provide both strategic and tactical card program expansion plans by commodity, business unit and supplier.
Moreover, the analysis provides the estimated financial benefits that may be realized with card program adoption or expansion.
To find out more about the Visa Accounts Payable Tool, contact your Visa Issuing Financial Institution.
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Visa card spending data puts more control in a company's hands. With Visa Information Management, clients get comprehensive data and reporting that provide a clear, concise picture of company spend and enables businesses to:
- See where company dollars are going
- Understand corporate purchasing patterns
- Improve future purchasing performance
- Negotiate preferred agreements with suppliers and vendors with consolidated Visa card spend data
- Monitor employee compliance to your purchasing policy
Reports are offered to clients through Visa Information Source (VIS) or the Visa Issuing Financial Institution's reporting system.
These reporting tools can also expedite the delivery of enhanced data spending on your purchases. This, in turn, allows a company to integrate the data into its back-office expense reporting software, general ledger, or other financial systems.
To find out more about Visa Information Management, contact your Visa Issuing Financial Institution.
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Discover how today's Canadian companies are saving money!
Procure-to-Pay Best Practices
Visa Canada has published a study that outlines the best practices of Canadian companies – medium to large, coast-to-coast and in a wide array of industries – in managing procurement, travel, entertainment, and commercial card programs. As part of the Visa Best Practices Tool Kit, two CD-ROMs are available to help identify potential benefits of implementing or expanding a card program, as well as to help measure current practices against these proven best practices benchmarks.
To find out more about the Visa Best Practices Tool Kit, contact your Visa Issuing Financial Institution.
Canadian Commodity Tax Best Practices
Visa Canada has surveyed Canadian companies to better understand the issues surrounding the management of commodity taxes. Visa clients have access to a set of best practices that provide concrete guidelines to assist in managing commodity tax compliance relating to the use of purchasing cards. An analysis of the advantages and disadvantages of the common methods of reporting and remitting commodity taxes is also included.
Download a sample of Canadian Commodity Tax Best Practices here.
More Best Practices:
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These documents demonstrate how the Visa Commercial Card Program can help solve industry specific financial troubles to give your business a competitive edge.
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Visa Inc.
