Welsh Purchasing Card

Major benefits of using the Welsh Purchasing Card for buyers are:

• No card or programme fees and an annual cash rebate on all spend
• Can substantially reduce the cost of acquisition for a very broad range of goods and services. (National Audit Office supports an average saving of £28 per transaction)
• Empowers authorised staff/buyers to easily and quickly obtain goods and services (including business travel) but with full accountably and a clear audit trail
• Provides control with individual financial limits and blocking on each Card and the visibility of purchasing provided by the associated transaction data management system
• Can be used for Internet ordering (increasingly offered by suppliers) and as a payment mechanism in e-procurement systems
• One monthly invoice payment covers all purchases
• Aids efforts to meet Prompt Payment Initiative & Late Payment Legislation targets
• Subject to supplier capability, full VAT or Line Item Detail (ie, invoice level) information can be delivered as part of the card transaction data
• Transaction data can be accessed within 2-3 days of transaction date
• For MasterCard products: offers free electronic management tool that is customised to each organisation’s requirements with the functionality to review, supervise, approve, cost allocate and account for transactions. Also coded transaction data can easily be exported into most ERP and finance systems with the minimum of "back office" effort. The system is accredited by HM Revenue & Customs for VAT reporting purposes.
• Extensive suite of standard and customised reports can be generated

For suppliers the main benefits are:

• Account set up is simple - no credit checking is required for new accounts
• Payment is guaranteed within 4 working days - enjoy improved cash flow instead of waiting for 30, 60 or even 90 days after invoice issue
• Reduce your administration costs - with no paper invoice to issue, statements to produce or late payment chases
• Enjoy preferred supplier status - as more organisations seek to rationalise the number of suppliers used, accepting the Welsh Purchasing Card will often feature in their selection criteria
• Increase business opportunities - depending on the level of purchasing card capability you could be listed as a UK VAT Accredited supplier as well as appearing on a national database of card capable supplier to the Welsh Public Sector
• Communicate directly with your buyer - build a relationship with your buyer and reduce inaccurate deliveries and therefore the number of returns