Solutions & Technologies

O-Purchase™

A solution to drive significantly greater use of purchase cards for all forms of B2B transactions

Overview

O-Purchase is a solution for improving and expanding upon existing purchase card programs.

O-Purchase takes advantage of Orbiscom�s Patent Controlled Payment Number Technology to deliver single use card numbers, with associated controls which ensure that the number is used for the purpose it was approved for and only in line with Internal Control Policies.

Purchase Card issuers, by deploying O-Purchase, can facilitate its Corporate and Government customers to:

Empower all of their employees to be able to spend via P-Cards, in line with their internal control policies, without the inherent risks associated with providing plastic to everyone

Facilitate and encourage them to settle all B2B transactions using P-Cards, including Accounts Payable transactions

Ensure that your Purchase Card program is at the heart of any new e-Procurement initiatives (e.g. Electronic Invoice Presentment and Payment)

Control and Accountability

The patented technology at the core of a Controlled Payment Number (CPN) facilitates unprecedented levels of Control and Accountability.

The CPN is generated on an �as needed� basis and is only created once the appropriate approval has been achieved

Sophisticated Controls ensure that the CPN is used for the purpose that it was approved for. Value, time limit and the merchants where the CPN can be used can all be defined at the time the CPN is created

When the CPN is presented by the Merchant, the CPN is assessed and is only authorised and settled if it adheres to the controls � otherwise, the transaction will be declined

A detailed audit trail, including approval information, is available for all transactions

By generating unique CPNs specific to each transaction, capturing the relevant controls and approval trail, and then �screening� the authorization and settlement messages to ensure compliance to the controls, O-Purchase delivers effective �pre-purchase� control in a Purchase Card Environment.

A CPN offers a Unique Transaction Identifier

The unique CPN acts a primary key, allowing each individual transaction to be separately identified. This facilitates 100% automated reconciliation and data capture functionality.

Given that the Card Number also serves as a reference number, every transaction can be reconciled back to the relevant accounting records associated with the transaction. This facilitates the capture of contextual information when the CPN is generated, and then the automated reconciliation of this information when the transaction is ultimately settled.

Product Features

With Orbiscom's O-Purchase� you get all the benefits of your current P-Card PLUS:

Full Control over every purchase

As much Data Capture as you want

Detailed Approval Trail

Fully Automated Matching/Reconciliations

Hands-Free GL Updates

Improved Sarbanes Oxley Compliance

Ability to settle any B2B transaction

Pro-active Reporting

Benefits

Differentiate your issuers� P-Card Solution in a crowded market with:

Enhanced Functionality

Unprecedented Levels of Control

Improved Integration with Accounting

The ability to be 'First to Market' in certain geographies

Increase your issuers� ROI on each client with:

Significantly higher Volumes of Transactions

Higher Value Transactions

Reduce your issuers� card acquisition costs with:

Significantly less physical cards required

Increase customer retention with:

'Best in Class' functionality

A solution tied into Clients Policies and Systems

Offer your issuers� corporate clients control features which support a strong Internal Control environment, particularly in light of new regulatory requirements. (eg. Sarbanes Oxley)

Offer your issuers� government clients the control and accountability necessary whenever �taxpayers� money� is spent.

Significantly enrich the functionality offered by your MIS reporting and expense management solutions.

Achieve the above with: