Blackbaud (NASDAQ: BLKB), the world’s leading cloud software company powering social good, today announced its new Blackbaud Purchase Cards, which provide social good organizations with an efficient and convenient…
CHARLESTON, S.C., Feb. 5, 2019 /PRNewswire/ — Blackbaud (NASDAQ:
BLKB), the world’s leading cloud software company powering social good,
today announced its new Blackbaud Purchase Cards, which provide social
good organizations with an efficient and convenient alternative to
traditional procurement methods and paper-based payables processes such
as checks, purchase orders, and invoices. Blackbaud Purchase Cards
enable organizations to set spend controls for individual cardholders,
track business expenses across the organization, and ensure that
policies are being enforced-all through a user-friendly online portal.
Blackbaud Purchase Cards will soon integrate with Expense Management in Blackbaud Financial Edge NXT®,
enabling non-financial staff members to track and submit their own
credit card transactions and invoice requests for approval, drastically
reducing the staff time required to manage this process.
“Blackbaud is committed to helping our customers improve operational efficiency and maximize mission delivery,” said Kevin Gregoire,
president, Enterprise Market Group at Blackbaud. “We are excited to
work with Regions Bank to deepen this commitment with the introduction
of Blackbaud Purchase Cards, which help enable social good organizations
to make the transition to automated purchasing and employee expense
processes-drastically reducing administrative costs and fraud risk.”
Blackbaud is working with Regions Bank
to issue chipped Visa® cards to social good customers to use for travel
and operational purchases. Blackbaud Purchase Cards, which come with no
annual fee, are available to customers in the United States with approved credit. Additional benefits include automatic annual cash back on all purchases, Visa® Signature Business benefits including travel coverage and liability waiver, and 24/7 access to a secure online portal for purchase card program management.
“Regions has a commitment to improving our communities and making banking easier for all those we serve,” said Jay Darnell,
senior vice president, Commercial Card Group at Regions Bank. “We look
forward to working with Blackbaud to provide their customers with more
flexibility, convenience and control through the new Purchase Cards.”
According to the RPMG Research Corporation’s 2017 North American Purchasing Card Benchmark Survey, annual purchasing card usage is expected to grow 10.5% per year through 2021. The report also states that-compared to traditional payment methods-purchase cards can lead to benefits such as reduction in procurement cycle time, increased savings through supplier discounts, and working capital and cash flow improvements. Blackbaud will address these needs with its new purchase card offering along with its deep integration with Expense Management in Blackbaud Financial Edge NXT.
Blackbaud
Purchase Cards and Expense Management deliver a robust accounts payable
and expense solution-from core accounting system to the method of
payment-to enable customers to decentralize daily purchasing while
implementing and monitoring the right controls in a scalable way. With
Blackbaud Purchase Cards and Expense Management in Blackbaud Financial
Edge NXT, customers can:
- Set spend limits and authorization controls-unique to each cardholder-on everything from vendor type to amount and frequency of cash advances
- Give their non-financial staff members secure access to track and submit their own expenses directly in Blackbaud Financial Edge NXT
- Provide their finance teams with maximum visibility and control of organizational spending with secure, reliable purchase card integration
- Make timelier payments and gain greater insight into vendor spend to negotiate better rates based on spend volume
- Reduce the need for burdensome, paper-based processes-such
as purchase orders, invoices, checks, requisitions, and approvals-to
alleviate administrative effort and simplify reconciliation
“With
Expense Management in Blackbaud Financial Edge NXT, I can easily log in
to the system to review expense requests and transactions-and even
drill into each line item to view details and attachments,” said Tracee Wright,
development assistant at Commemorative Air Force. “Because credit card
transactions are automatically populated in the system, I have the
information needed to proactively reach out to cardholders when
additional documentation is needed. It’s such a huge time savings to
have everything in one place.”
Customers
are already experiencing the benefits of Blackbaud Purchase Cards and
the insights that it provides to organizations’ financial teams. “With
much of the data prefilled, it was so simple to complete the online
application process for the Blackbaud Purchase Card,” said Regina De Hoyos,
associate chief financial officer, StarCare Specialty Health System.
“The online portal is easy to use, and it allows me to do everything
from setting limits by user to reviewing and downloading cardholder
statements.”
For more information on Blackbaud Purchase Cards, click here. For more information on Expense Management, click here.
Click to Tweet: Now
available: @Blackbaud Purchase Cards from @askRegions and Expense
Management in Financial Edge NXT help social good organizations more
efficiently manage financial processes https://blkb.co/2Uzy72D
About Blackbaud
Blackbaud (NASDAQ:
BLKB) is the world’s leading cloud software company powering social
good. Serving the entire social good community-nonprofits, foundations,
companies, education institutions, healthcare organizations and
individual change agents-Blackbaud connects and empowers organizations
to increase their impact through cloud software, services, expertise,
and data intelligence. The Blackbaud portfolio is tailored to the unique
needs of vertical markets, with solutions for fundraising and CRM,
marketing, advocacy, peer-to-peer fundraising, corporate social
responsibility, school management, ticketing, grantmaking, financial
management, payment processing, and analytics. Serving the industry for
more than three decades, Blackbaud is headquartered in Charleston, South Carolina and has operations in the United States, Australia, Canada and the United Kingdom. For more information, visit www.blackbaud.com, or follow us on Twitter, LinkedIn, and Facebook.
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