Cash Management Firm Likes Procurement Cards

Procurement cards are among the hottest new products in the cash management business, according to research from cash management technology provider Phoenix-Hecht.

The research showed that procurement cards, used by corporations to streamline purchasing operations, appear likely to complement cash management products, such as electronic data interchange, rather than replace them.

The finding is part of a biennial survey of more than 1,300 companies using cash management services, according to David A. Bochnovic, a executive vice president at Phoenix-Hecht.

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