Processing of purchase orders and paper invoices can be extremely costly and inefficient. Transform and simplify your company’s procurement efforts with the SunTrust Purchasing Card. You can pay invoices with a Purchasing Card, allowing you to move closer to a paper-free purchasing process.
To help you manage risk and expense, our Purchasing Card solution gives you complete control over purchasing down to the individual cardholder or vendor level. You’ll know exactly how and where procurement dollars are spent and be able to easily view company-wide spending patterns. You can then use that insight to negotiate favorable terms with commonly used vendors and even educate employees about spending policies and behaviors.
In addition to allowing you to avoid the risk of card abuse with its advanced control features, a Purchasing Card program can help you vastly reduce the number of invoices you and your staff have to process each month while earning generous rebates for your company.2 Through our vendor enrollment process, you can move beyond traditional card-in-hand purchasing card programs by the use of vendor specific card accounts. You will reduce costly paper invoices and payments further, automate accounts payable reconcilement and increase rebates.
To speak with a SunTrust representative call 866.448.6394.
Optimize card usage and get control over spending
Convenience and time savings for employees
Tools for running your Purchasing Card program
Through Enterprise Spend Platform® you have all the features necessary for managing your card program, with flexible application modules you can implement as needed.
Using cards with chip technology
Cards with chip technology, also known as EMV cards (which stands for Europay, MasterCard®, and Visa®, the organizations responsible for developing the standard), contain an embedded microchip which makes the cards difficult to copy or counterfeit, and are already in wide use around the world.
Cards with chip technology work the same as your existing magnetic stripe card. However, instead of “swiping” your card, you will insert it into an EMV-capable terminal and enter a Personal Identification Number (PIN) to complete your transaction. If the PIN does not match the one encoded on the chip, the transaction is canceled, protecting you and your company from unauthorized purchases. For terminals not equipped with a slot for chip cards, the card can be swiped as normal to make a payment.
Below are brochures containing diagrams and instructions for using the new cards:
How to use cards with chip technology – MasterCard
How to use cards with chip technology – Visa
1Please see contract terms and conditions for certain restrictions that may apply.
2For companies with $1,500,000 or more in annual spending on the SunTrust Purchasing Card.
MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated.
VISA is registered trademark owned by Visa International Service Association.
Too often small business owners let cash fluctuations and shortfalls disrupt their business’s operations and put their personal finances at risk. Business cash reserves put owners ahead cash surprises.
Cash shortfalls and fluctuations leave owners scrambling to keep the business running without dipping into personal finances. Stretching payables frees up the cash owners need to get through a cash crunch.
When it came time to transition his business, Andy Hafer, founder of Dynamic Communities, found resources with his bank to make the change easier.
Focused on adapting to the rapid changes rippling through the auto-dealer industry, Flow Automotive relies on its organizational principles and partnership with SunTrust for its innovative solutions and strategic vision.
Higher capital costs are leading businesses to concentrate on cash management using better data trails from electronic transactions and integration with operational and financial systems.
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