Sheet Metal Fabrication and Sales

Sheet Metal Fabrication and Sales

Visa Commercial card program—exceeding expectations of mid-size companies

Visa contracted Deloitte & Touche to conduct a review of companies with revenues between $25 million and $500 million who had recently implemented the Visa Commercial card program. Let's take a closer look at how Visa partners with mid-size companies to help ensure their success.

Client profile and card use approach

This custom fabricator of sheet metal is composed of three companies that produce and sell sheet metal products and services—spend is aggregated where possible. The customer base is primarily regional; however, the company does have a limited national and international presence. Commercial cards are used for a variety of purposes, but primarily to pay for travel and material costs associated with off-site project work for its customers.

Client program goals

This company selected the Visa Commercial card program:

  • To reduce need for cash on hand
  • To enable timely access to spend data for customer invoices
  • To implement online access for remote management of a commercial card program

Value received

This client is very satisfied with the Visa Commercial card program and the value experienced through implementation of this comprehensive payment program:

  • Spending controls have been increased through:
    • Ability to restrict individual account credit limits and cash access
    • Spend tracking through individual account statements and online reporting
    • Additional policies for use of the card are enforced through audit of account statements rather than Merchant Category Code Group (MCCG) blocking
  • Cash advances have been reduced through:
    • Use of the commercial card for travel and project associated costs
    • Implementation of cash access on commercial cards has enabled individuals to use ATM’s for daily disbursement of cash per diems
  • Cash on hand requirements have been significantly reduced, which in turn has:
    • Reduced internal check-writing requirements
    • Reduced safety concerns associated with carrying large sums of cash
    • Decreased employee concerns for timeliness of payment of cash per diems
  • International travelers reported:
    • Decreased concerns for local currency while overseas
    • Satisfaction with ease of use and acceptance of the Visa Commercial card for national and international travel
  • Implementation of online reporting:
    • Allows remote access to spend data and administration functionality
    • Enables finance to view charges as posted for timely invoicing of customers

Company Statistics

Revenue: Confidential
Average Spend on Cards per month: $17,822
Monthly Credit Limit: $96,000
Card Restrictions Used: Account Credit Limits, Cash Access permitted for some cardholders
Employees: 70
Number of Commercial Card Accounts: 28
Billing Options: Central Bill, Individual Statements
Payment Options: Central Pay via Company Check

 

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