According to SpendEdge analysts, a key factor contributing to the growth of this market is the increasing adoption of electronic payments across different businesses and industries. Paper-payment methods such as cheque payments for B2B transactions have seen a steady decline. Strong support from the top management for making B2B payments using corporate purchasing cards has resulted in businesses targeting the top service providers for partnership.
Corporate Purchasing Cards - Procurement Best Practices
Buyers should form a cross-functional team to identify key suppliers, evaluate regional acceptance and usability, and determine the expense categories that should be covered under the program. Having a mixed group will also help build flexibility and reduce ambiguity in the procurement and payment process.
Based on the analysis in this report, a major procurement pain point experienced by the buyers is the risk of mixing personal expenses with business spending. Therefore, it is imperative to expenses into various heads to reduce the chances of such transactions going through.
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Preferred Procurement Models and Major Service Providers
Major Category Requirements
Major Procurement Pain Points
PART 3: MARKET INSIGHTS
Category Spend Analysis
Key Market Developments
Key Category Growth Drivers
Major Category Growth Constraints
Procurement Best Practices
History of Innovation
Key Current Technological Innovations
Major Regulatory Frameworks
Strategic Sustainability Practices
PART 4: SUPPLY MARKET INSIGHTS
Supplier Operational Capability Matrix
Supplier Functional Capability Matrix
Supplier Cost Breakup
Supplier Positioning Matrix
Supplier Selection Criteria
PART 5: PRICING INSIGHTS
Pricing Models Snapshot
Pricing Models – Pros and Cons
Category Negotiation Strategies
PART 6: CATEGORY ESSENTIALS
Supplier Evaluation Criteria
Category Risk Analysis
Category Sourcing Evolution Matrix
PART 7: TOP FIVE SUPPLIERS
Wells Fargo & Company
American Express Company
JPMorgan Chase & Co.
PART 8: APPENDIX
SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
Sourcing consortium professionals
Industry experts and thought leaders
Category heads of suppliers
Client account heads/managers
Client and industry consultants
Industry journals and reports
Periodicals and new articles
Internal categiry playbooks
Industry and government websites on regulations and compliance