CHARLESTON, S.C., Feb. 5, 2019 /PRNewswire/
-- Blackbaud (NASDAQ: BLKB), the world's leading cloud
software company powering social good, today announced its new
Blackbaud Purchase Cards, which provide social good organizations
with an efficient and convenient alternative to traditional
procurement methods and paper-based payables processes such as
checks, purchase orders, and invoices. Blackbaud Purchase Cards
enable organizations to set spend controls for individual
cardholders, track business expenses across the organization, and
ensure that policies are being enforced—all through a user-friendly
online portal. Blackbaud Purchase Cards will soon integrate with
Expense Management in Blackbaud Financial Edge
NXT®, enabling non-financial staff members to track and
submit their own credit card transactions and invoice requests for
approval, drastically reducing the staff time required to manage
this process.
"Blackbaud is committed to helping our customers improve
operational efficiency and maximize mission delivery," said
Kevin Gregoire, president,
Enterprise Market Group at Blackbaud. "We are excited to work with
Regions Bank to deepen this commitment with the introduction of
Blackbaud Purchase Cards, which help enable social good
organizations to make the transition to automated purchasing and
employee expense processes—drastically reducing administrative
costs and fraud risk."
Blackbaud is working with Regions Bank to issue chipped Visa®
cards to social good customers to use for travel and operational
purchases. Blackbaud Purchase Cards, which come with no annual fee,
are available to customers in the United
States with approved credit. Additional benefits include
automatic annual cash back on all purchases, Visa® Signature
Business benefits including travel coverage and liability
waiver, and 24/7 access to a secure online portal for purchase card
program management.
"Regions has a commitment to improving our communities and
making banking easier for all those we serve," said Jay Darnell, senior vice president, Commercial
Card Group at Regions Bank. "We look forward to working with
Blackbaud to provide their customers with more flexibility,
convenience and control through the new Purchase Cards."
According to the RPMG Research Corporation's 2017 North American
Purchasing Card Benchmark Survey, annual
purchasing card usage is expected to grow 10.5% per year through
2021. The report also states that—compared to traditional payment
methods—purchase cards can lead to benefits such as reduction in
procurement cycle time, increased savings through supplier
discounts, and working capital and cash flow improvements.
Blackbaud will address these needs with its new purchase card
offering along with its deep integration with Expense Management in
Blackbaud Financial Edge NXT.
Blackbaud Purchase Cards and Expense Management deliver a robust
accounts payable and expense solution—from core accounting system
to the method of payment—to enable customers to decentralize daily
purchasing while implementing and monitoring the right controls in
a scalable way. With Blackbaud Purchase Cards and Expense
Management in Blackbaud Financial Edge NXT, customers can:
- Set spend limits and authorization controls—unique to
each cardholder—on everything from vendor type to amount and
frequency of cash advances
- Give their non-financial staff members secure
access to track and submit their own expenses directly in
Blackbaud Financial Edge NXT
- Provide their finance teams with maximum
visibility and control of organizational spending with
secure, reliable purchase card integration
- Make timelier payments and gain greater
insight into vendor spend to negotiate better rates based
on spend volume
- Reduce the need for burdensome, paper-based
processes—such as purchase orders, invoices, checks,
requisitions, and approvals—to alleviate administrative effort and
simplify reconciliation
"With Expense Management in Blackbaud Financial Edge NXT, I can
easily log in to the system to review expense requests and
transactions—and even drill into each line item to view details and
attachments," said Tracee Wright,
development assistant at Commemorative Air Force. "Because credit
card transactions are automatically populated in the system, I have
the information needed to proactively reach out to cardholders when
additional documentation is needed. It's such a huge time savings
to have everything in one place."
Customers are already experiencing the benefits of Blackbaud
Purchase Cards and the insights that it provides to organizations'
financial teams. "With much of the data prefilled, it was so
simple to complete the online application process for the Blackbaud
Purchase Card," said Regina De
Hoyos, associate chief financial officer, StarCare Specialty
Health System. "The online portal is easy to use, and it allows me
to do everything from setting limits by user to reviewing and
downloading cardholder statements."
For more information on Blackbaud Purchase Cards, click here.
For more information on Expense Management, click here.
Click to Tweet: Now available: @Blackbaud Purchase Cards
from @askRegions and Expense Management in Financial Edge NXT help
social good organizations more efficiently manage financial
processes https://blkb.co/2Uzy72D
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the
world's leading cloud software company powering social good.
Serving the entire social good community—nonprofits, foundations,
companies, education institutions, healthcare organizations and
individual change agents—Blackbaud connects and empowers
organizations to increase their impact through cloud software,
services, expertise, and data intelligence. The Blackbaud portfolio
is tailored to the unique needs of vertical markets, with solutions
for fundraising and CRM, marketing, advocacy, peer-to-peer
fundraising, corporate social responsibility, school management,
ticketing, grantmaking, financial management, payment processing,
and analytics. Serving the industry for more than three decades,
Blackbaud is headquartered in Charleston,
South Carolina and has operations in the United States, Australia, Canada and the United Kingdom. For more information,
visit www.blackbaud.com, or follow us on Twitter,
LinkedIn, and Facebook.
Media Inquiries
Brian Kosoy
Director, External Affairs
843.654.3004
media@blackbaud.com
Forward-looking Statements
Except for historical
information, all of the statements, expectations, and assumptions
contained in this news release are forward-looking statements that
involve a number of risks and uncertainties. Although Blackbaud
attempts to be accurate in making these forward-looking statements,
it is possible that future circumstances might differ from the
assumptions on which such statements are based. In addition, other
important factors that could cause results to differ materially
include the following: general economic risks; uncertainty
regarding increased business and renewals from existing customers;
continued success in sales growth; management of integration of
acquired companies and other risks associated with acquisitions;
risks associated with successful implementation of multiple
integrated software products; the ability to attract and retain key
personnel; risks related to our dividend policy and share
repurchase program, including potential limitations on our ability
to grow and the possibility that we might discontinue payment of
dividends; risks relating to restrictions imposed by the credit
facility; risks associated with management of growth; lengthy sales
and implementation cycles, particularly in larger organization;
technological changes that make our products and services less
competitive; and the other risk factors set forth from time to time
in the SEC filings for Blackbaud, copies of which are available
free of charge at the SEC's website at www.sec.gov or upon request
from Blackbaud's investor relations department. All Blackbaud
product names appearing herein are trademarks or registered
trademarks of Blackbaud, Inc.
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SOURCE Blackbaud