Taking Your Card Program to the Next Level A Provider s Perspective

Transcription

1 Taking Your Card Program to the Next Level A Provider s Perspective Richard Hood Vice President, Commercial Card Sales BMO/Diners Club International February 10, 2015 PDG Cards on Campus San Antonio, TX 1

2 BMO Spend & Payment Solutions We have been managing commercial card programs since the 1990 s and have grown to be one of North America s top 6 Commercial Card providers. BMO Financial Group acquired Diners Club North America in 2010 Locations Toronto Montreal Chicago Atlanta New York City Clients 100,000+ entities Recognition & Capabilities BMO is ranked 6 th in North America for Commercial Card Providers BMO Diners Club issued the first multi-use charge card in 1950 Largest provider of Commercial Cards to the Canadian Public Sector Dual issuing partnerships with MasterCard and Diners Club International 2

3 Card Provider Rankings by Size: Overall Rank Issuer 1 American Express 2 JPMorgan Chase 3 U.S. Bank 4 Citigroup 5 Bank of America 6 BMO Harris Bank 7 Wells Fargo 8 Comdata 9 PNC Bank 10 SunTrust 3

4 Corporate Card Products Corporate T&E Card Travel Account One Card Purchasing Card Buyer Initiated AP Card A card-based solution that helps capture, track and analyze T&E expenses. A cardless, central bill solution that helps control air, rail and common carrier expenses. Integrated solution combining the functionality of one or more card programs into a single platform. Card issued to a company s designated employees and/or key suppliers for the purpose of acquiring business-related goods and services. BMO Approve2Pay is a convenient and flexible payment solution that combines the benefits of a Purchasing Card program, with the added control and security of a buyerinitiated payment solution. Key Benefits & Features MasterCard Acceptance Sixty days to pay with no interest Individual, Corporate or Split Liability Individual, Central or Strip Bill Online account mgt & reporting tools Up-to-$500K (US) in Travel Accident Insurance Primary Collision Damage Waiver Insurance Over 460 Airport Lounges Worldwide Nearly 100% acceptance at all common carriers Sixty days to pay with no interest Corporate Liability and Central Pay Online account mgt & reporting tools Automated reconciliation and data enhancement Up-to-$500K in Travel Accident Insurance MasterCard Acceptance A single platform to administer and maintain A single card/account to pay for multiple types of business expenses Pre-established limits by merchant category and spending Simplified payment and reconciliation processes Comprehensive data capture and data allocation based on type of business expense. MasterCard Acceptance Manage spend more effectively Improve operating efficiencies Enhance employee convenience and security Strengthen spend control and minimize misuse Optimize supplier relationships Identify any non-preferred vendor usage. Ensure negotiated contracting pricing is applied Assign how you pay suppliers Migrate paper-based supplier payments to an electronic method Pay any supplier, including those that do not accept MasterCard Automate payments of large ticket items Maintain control over timing of payments Enhance security measures around your Corporate MasterCard Account Maximize cash flow and take advantage of additional grace days 4

5 Global Acceptance Now, the best Card in the galaxy! Diners Club Cards issued in N. America are now accepted at nearly 39 million MasterCard locations worldwide!

6 What Kind of Card Program(s) Do You Offer? Integrated solution for all types of corporate spend Purchasing Travel and Entertainment Fleet Key Questions: Can you combine multiple functionalities onto a single platform? Can you Pre-set spending and MCC controls? Can you provide a single card for multiple types of business expenses (purchasing, travel, fleet, or construction/project)? 6

7 7 Tips for Next Level Card Performance (NLCP)

8 Tips for Next Level Card Performance (NLCP) Tip 1) Establish Goals that Measure Program Effectiveness? 2) Communicate Program Expectations Across Campus and related entities 3) Negotiate Performance Benchmarks in your rebate 4) Use your Card Provider as a resource for new and updated industry reports and information. 5) Optimize Your Card Program Using Tools & Resources provided by your Issuer. Why? Goals provide a roadmap to accomplishments & provide structure for program management and tasks. Presents a strong message & gives your card program a consistent voice. Gives you a target to aim for and your card provider direction on how to work with you. Card provider has access to critical updates and information not readily available to the general public. These tools are relatively easy to plug & play into your card program at little or no cost. 8

9 Tips for Next Level Performance (NLCP) Tip 6) Use A/P as a Key Driver to Maximize Volume. 7) Find a buddy program and model their program success. 8) Prioritize Professional Development for yourself and your card staff. 9) Reward compliance to key cardholders and departments. 10) Review Performance Annually with your card provider. Why? Eliminate the useless expense of writing checks for supplier payments that can easily be migrated to card. Working with a similar program will provide direction and instruction as you build towards your success. Training and staff development is the best investment you can make in your card program. Stay sharp. It s not enough to spend time on negative outcomes. Recognize cardholders and departments that use the card responsibly. Remember, it s the thought that counts. Annual Reviews (driven by key metrics) highlight where you ve met program goals and where there are still opportunities for improvements. 9

10 The Power of Partnership Do not underestimate the power of partnership with your bank/card provider to drive program growth! 10

11 Thank You Richard Hood Vice President Commercial Card Sales BMO/Diners Club International office 11