Where you’ve gotta use that P-Card, use it wisely !!! 😇
Personally I’m not a big P-Card proponent, expensing at ease & reconciling later. Deemed mostly an anti-procurement maneuver in firms driven by a structured spend under management philosophy.
People often turn to a P-Card when:
1. The Source to Settle process seems daunting.
2. The expense was classified a Tail spend , meaning no one found it on a cross catalog search or internally managed SKUs or even inventory to pull off a stock transport order.
3. Urgent buy , had to go non linear to fulfill an outage or need.
4. Marketing spend for promotional merchandise which is unique and urgent requiring a P-Card to the rescue.
In my career, I’ve led these P-Card optimization projects.
They are on every CPOs agenda irrespective of the company’s spend economy of scale.
Some countries don’t even accept
P-Cards legally, forcing adoption of an alternate buying channel.
Now coming to some of the creative usages of a P-Card
- [ ] I’ve seen that it can be ghosted and act as an immediate escrow to facilitate a payment for several categories where seasonal demand required timely fulfillment.
- [ ] I’ve also seen it orchestrate some interesting Spot buy fulfillment scenarios triggering after the fact Purchase orders or auto flipped invoices with machine learning closing the gap of reconciling Level 1,2 & 3 metadata from the incurred expense.
-[ ] Stringer spend where photographs & videos or news anything that you’d expect as a news org can be built on your company’s official App for Stringers to choose and upload and get paid instantly via the P-Card & later reconciled
- [ ] Blockchain smart contracts using state transition modes flipping the expense from one P-Card to another P-Card based on the category compliance for Consortia contracts in the area of Commodity Trading agreements requiring quick response with Machine executed settlement scenarios.
We can go on with justifying usage or rebut to stifle potential innovation where applicable for P-Cards.
If you have to use it, just use it , retrospect patterns & stay cautious & track frivolous usage.
Happy reading
Image credit: -> me 😀
