Procurement Management Account

Designed for medium-to-large businesses and Government entities with significant procurement spend.  A Procurement Management Account is assigned to an organisation or business unit rather than individual cardholders, allowing multiple authorised users to transact on the facility. 

Features

• Centralise procurement expense management
• Control procurement expenses and enforce your corporate purchasing policy
• Simplify reconciliation with electronic reporting tailored to your business systems
• Eliminate manual processing, with the outstanding balance of your facility automatically debited each month from a nominated account

Streamline corporate procurement
Channel all corporate procurement through a single virtual business account, lodged with your preferred suppliers.

Control expenses
By centralising your procurement expenditure, you can increase your buying power and negotiate better rates. You can also enforce your corporate purchasing policy and keep costs under control.

Greater transparency for expense reporting
Enhanced data on travel related transactions can be requested from your preferred travel suppliers*. This data can include: flight path, passenger name, class, car hire model/distance, tax applied and much more.  

Reduce costs
Because your balance is paid automatically from your nominated account each month, you’ll pay no interest on purchases, with up to 31 days interest free.

Simplify reconciliation
Detailed reporting makes it easy to reconcile, analyse and forecast procurement expenses. Use reports to negotiate preferential supplier rates or volume related discounts.

As well as electronic reports designed for easy compatibility with your business systems, you’ll receive access to MasterCard’s global, web-based system that tracks individual cardholder activity in detail.

Protect your business and staff
Users are automatically covered by:

1. Transit accident insurance up to $250,000. For full details please refer to the Certificate of Transit Accident Insurance (PDF)
2. Unauthorised use insurance up to $150,000 p.a.

Create a complete solution
Combine your Procurement Management Account with a Commonwealth Bank Corporate Charge Card or Corporate Credit Card to create a complete solution for business expenses.
 

• Important information about advice
  * MasterCard receives enhanced data from selected travel-related merchants. Clients must have an agreement with a preferred travel supplier and authorise them to pass the enhanced data to MasterCard. 

  As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances.
  
  All products mentioned on this web page are issued by the Commonwealth Bank of Australia; view our Financial Services Guide (PDF 59kb). View Product Disclosure Statements (PDSs) for Electronic Banking (PDF 135kb) and CommBiz (PDF 325kb) and consider them before making any decision about these products.
  
  Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the loan offer. Bank fees and charges may apply.