VPcard to Help Government Organizations Improve P-card Controls
Summary
While p-card programs are an important tool for reducing procurement costs and eliminating delays for certain types of government purchases, they carry the expense of credit card statement reconciliation, the risk of insufficient documentation to support purchases, and the potential for fraudulent use.“While fraudulent use of government p-cards is rare, one offender can cause a media event that damages the reputation of the organization and those responsible for managing the p-card program,” says Tim O’Meara, VPcard founder and President."VPcard offers a platform for making immediate purchases without the expense and delay of issuing formal PO’s, even when p-cards are not used.VPcard, LLC is not a financial institution or a credit card company and does not process or guarantee payments.### Mooresville, NC, January 26, 2012 --( PR.com )-- VPcard, LLC operates www.VPcard.com, the free network for facilitating non-PO purchases.Most government organizations, whether at the city, county, state, or federal level, have implemented procurement card (purchasing card or p-card) programs to allow employees to quickly and efficiently purchase low-dollar products and services.While p-card programs are an important tool for reducing procurement costs and eliminating delays for certain types of government purchases, they carry the expense of credit card statement reconciliation, the risk of insufficient documentation to support purchases, and the potential for fraudulent use.“While fraudulent use of government p-cards is rare, one offender can cause a media event that damages the reputation of the organization and those responsible for managing the p-card program,” says Tim O’Meara, VPcard founder and President.