Virtual Card Payments

With the skyrocketing growth of commercial virtual card acceptance in the business-to-business (B2B) space many organizations are struggling to find an Issuing Bank who can deliver a product and service that will provide a successful ROI.

Typically, most organizations think that their existing treasury bank can implement a virtual card solution for their supply chain. However, these banks cannot deliver on offering a long-term strategy for the entire supply chain, which includes “the long tail” (or, the small volume suppliers). Most banks must monitor their efficiency ratios, which means if your organization does not have a 10-digit annual supply spend to support the bank’s revenue requirements, the bank will not assign a dedicated team or person to manage your virtual card program or ensure maximum accounts payable process efficiencies and supplier participation.

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