A global pharmaceutical company with a diverse payment strategy, including use of T&E, meeting, purchasing, ghost, single use account, and lodge cards was facing reconciliation and payment-management problems. After selecting a new commercial card issuer, the organization sought to better understand its commercial card challenges and remediate these issues in the new program.
Approach: Think + Do
Acquis partnered with the client to create a holistic strategy for its end-to-end use of commercial cards, understand the key drivers behind its reconciliation and payment management issues, design a new commercial card program that aligns best practices with its payment strategy, and create a road map for the team to follow while implementing the new program.
Acquis’s strategy allowed for a straightforward monthly reconciliation, addressed internal audit’s concerns about manual processes, created a future-state technological landscape that streamlined file delivery processes, enhanced back-office support, and reduced company liability.