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Implementing a Virtual Credit Card Program
You’ve decided to implement a virtual credit card (also known as ePayables) program. Congrats, you have taken the first step in automating your AP processes, improving your profit margin and reducing paper checks. But don’t celebrate for too long; it’s time to get started on implementing your program so you can start reaping the rewards.
Don’t let anyone tell you otherwise, it takes a village to operate a successful virtual credit card program, and you are going to need help from your entire organization to be successful, far beyond implementation. From vendor enrollment, rebate strategy and competitor benchmarking, a virtual credit card program is something that needs to be managed from year one to year fifteen.By implementing best practices or a change management strategy, you’re much more likely to attain your program goals therefore earning more rebates. So how do you get started?