| A procurement card (or P-Card) is a corporate credit card issued to an employee or a supplier P-Card issued against a supplier. The purpose of either the employee or supplier P-Card is to enable the employee to purchase items directly from a supplier. Procurement cards can be assigned to requisitions in iProcurement only. After the requisition is created in procurement, a purchase order or release is generated in Purchasing by either the PO Create Documents workflow or by you using AutoCreate, depending on how you've set up purchasing. Procurement card purchase orders are approved and transmitted to the supplier like any other purchase order. They are approved through the approval workflows in Purchasing, and you transmit them to the supplier through facsimile, Oracle e-Commerce Gateway, or other method as usual. (The procurement card information itself is transmitted to the supplier through e-Commerce Gateway, through the outbound purchase order transaction.) Upon receiving the purchase order, the supplier transmits the procurement card information to the procurement card issuer (for example, a bank). The credit card issuer then sends transaction files back to Oracle Payables, which automatically generates accounting distributions and creates invoices to pay the issuer. Procurement card purchase orders and releases can be created only from requisition lines in iProcurement. To use procurement card purchase orders or releases in Purchasing, you must set up procurement card functionality in both iProcurement and Payables. 80% of the transactions have 20% of the purchasing dollars. Studies show that 90% of the cost associated with Purchasing can be eliminated by using a P-Card. In such a scenario a single P-card can be used for these purchases, thereby reducing the amount of paper work and labor required. Use of P cards will reduce the number of checks processed for ‘Low Dollar, High Volume’ invoices. Use of P cards can earn handsome rebates and will establish a greater level of control. The point of sale controls can guide or control the cardholder spending. One can specify single spending limits as well as monthly spending limits. Number of transactions per day and merchant categories can also be restricted when the P-Card is used. Setting up of P-card using standard Oracle forms is a complex process as it involves various interdependent steps. The Accelerator for P-card will help the users set up P-card functionality in a greatly simplified and expedient way. The users will answer questions and the setups will be entered automatically via the Accelerator process.
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A proven solution ready to roll out with any Oracle Acclerator project or upgrade to an existing system.
