Purchasing Card Changes at UVM
- By Claire Burlingham
In the coming months, the Purchasing Card (P-card) Program will be changing at the University. After 14 years with our current P-card issuer BNY Mellon, the University issued an RFP for the purchasing card in June 2012. In December 2012, the Board of Trustees approved entering into a contract with a new issuer, US Bank.
Why is the University changing P-Card providers?
There are several reasons why the University decided to change card providers, the most relevant reasons are:
- The ability to take advantage of many additional options, benefits, and improvements available to enhance our p-card program;
- Improved customer service and technological capacity.
Why are we redesigning the Program?
- To provide upgraded technology and robust reporting for administrators and business managers; as well as the ability to log into the software and review transactions “real time”.
- To implement e-payables solutions that will enable Procurement Services to streamline accounts payable processes.
Who is the new P-Card provider?
The new issuer is US Bank and our card will be on a VISA platform. The conversion timeline to change from one issuer to another usually takes 90 days. Details regarding the conversion schedule (i.e. issuance of cards, first day to use new card, last day to use old card, etc.) will be communicated in the coming weeks.
What is required of cardholders during the conversion?
During the software conversion and system configuration stage of the conversion, very little is required of current cardholders. Procurement Services, Controller’s Office, ETS and BPRT staff will be busily working behind the scenes. Once the system configuration is complete, cardholders and business administrators will play a key role in the implementation. One important requirement with a new issuer is training. More details on training will be shared in the coming weeks.