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Search - 2003 Purchasing Card Benchmark Survey Results

2003 Purchasing Card Benchmark Survey Results
Author: Richard Palmer, Mahendra Gupta

The information in the 2003 Survey Results is based on 579 responses from purchasing card using organizations that were either customers of one of 19 major financial institutions or members of a national purchasing card administrator association received between November 2002 and January 2003. The 2003 Survey Results indicates that Purcha... more »sing card spending in North America doubled from $40 billion to $80 billion between January 2001 and January 2003 and is expected to double again over the next five years. The strongest growth in purchasing card spending has been in the corporate sector. Purchasing card spending at governmental agencies and universities, however, is relatively subdued. Expectations of future growth in purchasing card spending are primarily based on increased card use for low-dollar purchases (supplies, maintenance goods, office products, etc.). Survey respondents identified a variety of benefits attributable to the use of purchasing cards. In past twelve months, card users generated over $23 billion just in transactional cost savings in North America. Purchasing card users also reported significant reductions in the time elapsed to acquire needed goods, the MRO supplier base, and the number of petty cash accounts. However, the benefits attributable to purchasing cards are not necessarily felt by all users. The 2003 Survey Results articulate a framework for understanding and expanding purchasing card spending and illustrate a variety of common practices among high performance purchasing card programs for consideration by market participants. Further, the 2003 Results shed light on a variety of trends and concerns in the market, such as dual and multiple uses of purchasing cards, emerging goals that organizations have for their purchasing card programs, and purchasing card misuse. For example, the 2003 Survey Results document that, contrary to media portrayals, card misuse is not a significant problem in the industry. Moreover, the dollar amount of card misuse as a percentage of purchasing card spending at state and federal agencies is lower than both the sample average and all other individual organization categories. The 2003 Results also examines card program management practices, customer satisfaction with card issuer service and technology, integration of purchasing card technology with e-procurement, and provides benchmark purchasing card program statistics by size of business, type of governmental unit, and industry category.

ISBN-13: 9780974320809
ISBN-10: 0974320803
Pages: 176
Rating:

0 stars, based on 0 rating

Publisher: RPMG Research Corporation
Book Type: Paperback
Members Wishing: 0
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Search - 2003 Purchasing Card Benchmark Survey Results

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