Fortune 500 Consumer Product Company (P-Card)

Client

A Fortune 500 consumer products company achieves outstanding results outsourcing their P-Card program to InterplX Expense Management.


Challenge

Find a way to ensure control and SOX compliance for a growing P-Card program without placing further burdens on cardholders. Cardholders felt the work of the accounting department was being pushed off on them. The client’s SOX committee required documentation to demonstrate that P-Card program was being properly controlled.


Solution

InterplX provided a full back office suite of services to manage the documentation and audits for all P-card statements. The corporate P-card provider downloads and distributes transaction details to each cardholder and to InterplX. Cardholders review transactions and attach required receipts. Statements and receipts are sent to the approver for signature. Approved statements are forwarded to InterplX where they are prepped, scanned and converted to digital image. InterplX then audits them according to the client’s business rules and policies. InterplX’s unqualified SSAE 16 (formerly SAS 70 Type II) audit opinion assures the SOX committee that the InterplX process is SOX-compliant.


Results

InterplX’s solution met this client’s needs when first installed and adapted easily when the client added new staff through acquisition. InterplX continues to upgrade and improve operational efficiency while maintaining the lowest cost service available.


Client Remarks

"InterplX overcame cardholder resistance and satisfied our SOX committee. They have made the accounting for card use easier for our cardholders and secure for our management. Today the program includes different types of cards, from basic P-cards for purchases under $1,000 to those used to pay for plate printing and packaging art that may go up to $100,000, with single transactions of $10,000 to $50,000".

"Because of InterplX’s integrity and due diligence, our partnership has grown from a small auditing contract in only one of our divisions to now where they handle the P-card program for our entire corporation".

"By using P-cards, our buyers have decreased their costs up to 95 percent, to as little as $4 per purchase".