Procurement data for P-Card has until now been only as good as what is entered into record by the cardholder or the seller of record when passed through Visa or MasterCard interchange services. P-Card data provided through the banks is not structured data because there are no requirements for data form or format. Agencies suffer from “GIGO”, garbage in and garbage out. Chief Data Officers understand the best practice is to work with prime data gained from direct sources of truth and not filtered through a third party like a bank or a processor.
“The Actus approach is to maintain the same level of P-Card data cleanliness as is delivered through Contract Management Systems. Our P-Card data at the line item level provides the same analytical value as a contract line item on a Standing Order.”
Mike Tocci, President of Paperless Innovations
“P-Card activity has never before provided actionable data. We believe that Data Officers and analysts should get the same quality and the same transparency out of P-Card systems as they do from contract awards, and Actus does this.”
Accountability and transparency come from automated data capture and visibility during the approval process. Socio-economic vendor status (validated by SBA and SAM.gov) and Category Management can be populated most accurately by integrating and managing sources of truth at the line item level.
Actus COTS SaaS P-Card solution supports an agency’s existing investments in analytics to uncover seasonality, price variability, sources of supply, price deviations, and cost savings available from current spending under the micro-purchase threshold.