As boards of trustees increase budget scrutiny, today's colleges and universities are forced to offset staff reductions and hiring freezes with cost efficiencies in order to maintain academic excellence.
J.P. Morgan's Commercial Card helps schools reduce costs by simplifying your procure-to-pay process.
Studies* show that using commercial cards saves schools an average of $110 per purchase order (PO) transaction and reduces procure-to-pay time by six days. Multiply these savings by the hundreds of POs processed daily, and you can see how our advantages add to your bottom line:
While our program eliminates many of the tasks associated with traditional POs, we also leverage the capabilities of our industry-leading technology PaymentNet® to design a scalable program that fits your school's size, requirements and procurement process. Flexible spending controls will help you better control procurement, while comprehensive reporting opens a new world of opportunities such as data for improved vendor negotiations.
We understand your school is unique and dynamic, requiring more than an off-the-shelf card program. Our higher education experience and technology allow us that significantly reduces your costs, eliminates redundancies and allows you to redirect resources to more strategic initiatives.
* R. Palmer, M. Gupta, A. Davila, C. Normand, "The Saving Power of Purchasing Cards," NACUBO Business Officer (July 2002).