Studies* show the cost to process a traditional purchase order (PO) averages $91 and can run as much as $250. These expenses may be a small percentage of your budget, but multiply them by the hundreds of POs processed every day, as well as an average 76% savings with purchasing cards, and you can see their impact on your organization.
J.P. Morgan's Purchasing Card program is an innovative payment solution that helps businesses, universities and local and government agencies reduce these costs and simplify your procure-to-pay process. Advantages include:
While our program eliminates many of the tasks associated with traditional purchase orders, we also leverage the capabilities of our industry-leading technology PaymentNet® to design a scalable program that helps you meet today's challenges and prepare for future needs.
We understand your organization is unique and dynamic, requiring more than an off-the-shelf card program. Our experience and technology allow us to tailor a solution to your distinct procurement process and business objectives.
We'll work closely with you to leverage these advantages in a program that significantly reduces your costs, eliminates redundancies and allows you to redirect resources to more strategic initiatives.
* R. Palmer, M. Gupta, "The 2003 Purchasing Card Benchmark Survey," RPMG Research Corporation (2003).