About Your Card Program
Information to Include within the RFP
Your request for proposal (RFP) for selecting a Commercial Card issuer/provider should not only contain questions. Bidding issuers need to know about your current program(s) to provide the best possible proposal.
Your Current Status
Begin with the Commercial Card types your organization uses today and in what countries. By type, provide key metrics, such as what is listed below. (Some of the following will not apply to Virtual Card/ePayables programs.)
- Annual card spend the past few years
- Annual transaction volume the past few years
- Average transaction size
- Average spend per card
- Standard (or most common) single transaction limit
- Highest dollar amount your organization is willing to put on a card (regular or virtual)
- Standard (or most common) cycle/monthly limit
- Number of cardholders/accounts
- Percentage of employees who are cardholders
- Average file turn
- ERP system(s)/other systems for which an interface file from the issuer is needed
It would also be helpful to bidding issuers if you give them a sense of how your card spend and transaction volume compare to your payments overall. For example, share:
- how many supplier payments (all types) your organization makes each year and the percentage that cards comprise
- your total spend and the percentage that card payments represent
These metrics demonstrate the extent to which your organization is using cards and your potential opportunity.
The Future of Your Card Program
- What are your program goals by card type? Where do you want the metrics to be in, say, two years?
- What card type(s) does your organization want to add?
- In which countries do you want to grow/expand the program?
See also additional RFP-related content.