Automating Low Dollar Value Day-To-Day Business Operations Spend

PurchaseAnywhere® is a cloud-based solution that offers the most cost-effective comprehensive solution for end-to-end automation, reconciliation, and management of day-to-day business operational spending through the use of Purchasing Cards (P-Cards) or Reloadable Prepaid cards.

PurchaseAnywhere mitigates business risks and implements strategic decisions that empower businesses to reduce costs, and make the best capital and resource decisions while balancing compliance requirements.

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80% of Corporate Purchases are Low-Dollar Value

It costs businesses upwards of $80 to issue and manage a single Purchase Order
The cost of creating and issuing a purchase order and approving and paying for supplier invoices is often higher than the value of the items purchased. Moreover, managing, storing, and retrieving the associated documents becomes a costly, time-consuming task. As a result, many businesses keep funds on hand for routine day-to-day purchases. Over time, businesses have realized the potential of theft, loss, or mismanagement of such funds. In distributed environments, the management of cash poses an even higher risk.

Using Prepaid Cards for such purchases provides a low-cost alternative with enhanced spending controls and purchasing oversight with a streamlined payment process that minimizes risk and fraud.

PurchaseAnywhere Reloadable Cards

Many businesses have distributed centers of operations with different investors connected to such operations. These businesses find it challenging, highly daunting and expensive to manage and reconcile the day-to-day business expenses associated with such distributed centers. Financial management gets even more complex because of investor relations that do not permit the commingling of funds.

Providing corporate cards for each center requires awful paperwork from investors and management and is not operationally practical, nor is it practical to ask all operations center person to incur ongoing month-to-month expenses for reimbursement.

To maintain the centers of operation, businesses generally send money (check, wire, cash) into the personal accounts of some responsible people at these centers, making businesses vulnerable to a higher degree of risk and fraud.

Risk Management And Cost Reduction

ExpenseAnywhere mitigates risk and drastically reduces reconciliation costs by providing reloadable prepaid cards (VISA or MasterCard) integrated with the PurchaseAnywhere solution to manage cards and card charges. In addition, the solution offers:

  • Ability to create center-specific prepaid cards funded from their specific bank accounts, making it easier to manage center-specific expenses.
  • Instantly upload and download funds to or from a card, minimizing risk and loss.
  • Exercise control on card spend. Upload the funds as needed.
  • Card transactions data is instantly populated in PurchaseAnywhere® System for allocation, approval, and posting to client ERP Systems, including Yardi and Real Page
  • Increased operational efficiencies. Improved visibility into expenses.
  • Enhanced compliance with corporate policies.
  • Advanced business intelligence and analytics.
Major Features
Prepaid Cards

ExpenseAnywhere® with its Partners issues VISA or MasterCard reloadable Prepaid cards.
The cards are FIDC insured. If required, each card can be funded from its specific bank account.

Charge Authentication and Processing

The system empowers businesses to instantly authenticate a POS charge, providing control, visibility, as well as risk minimization. The card charges are immediately posted to the PurchaseAnywhere® system for automating the entire process of managing and reconciling card charges in compliance with corporate policies.

Receipt Matching & Validation

Card users can upload pictures of their purchase receipts using their mobile devices or email or fax receipts to PurchaseAnywhere for validation and reconciliation.

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