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Methods for Corporate Cardholder Training

Introduction

Developing a robust set of procedures for Corporate cardholders is only effective if there are processes in place to ensure that employees with credit cards are properly trained.  Upfront validations and backend controls for review and approval can reduce the financial risk; however, transactions that don’t comply with company policies can be frustrating for the employee and result in significant rework efforts in Shared Services.

iPolling Results Review

A recent Peeriosity poll looked at the issue of cardholder training to better understand the approaches used at Peeriosity member companies and the overall effectiveness of the training programs that member companies have in place.

With regards to the primary way cardholder training is delivered, 41% of Peeriosity member companies completing the poll indicated that the primary method was online training.  Surprisingly, 29% reported that their primary method was written documentation.  An additional 18% use face-to-face or video classes with the Corporate Card organization, 6% rely on face-to-face or video training performed by Human Resources, and 6% have the responsibility for training as part of the duties of the employee’s supervisor or manager.

best description of the primary way cardholder training is delivered at your company

The next polling question asked Peeriosity members to comment on the effectiveness of their approach to cardholder training in terms of compliance and overall results.  Interestingly, only 13% reported that training efforts were very effective, with 31% indicating that training efforts were somewhat effective, and they were working to make improvements.  An additional 50% indicated that training was somewhat effective, and they were not working to make improvements, and the remaining 6% indicated that training had limited effectiveness with improvement efforts underway.

effectivity of corporate cardholder training in terms of compliance & overall results

Having half of the responses as somewhat effective and not working to make improvements is a concern, given the direct impact transaction errors can have on employee satisfaction, plus the possible negative impact on business controls and the costs of rework to fix mistakes.  While it may not be the top priority, it should make the list of improvement initiatives for consideration.

A few of the comments from members include:

  • The credit card administrator provides training via WebEx to all new cardholders.
  • There is a corporate card guide but also our travel accountant will provide zoom training if required for new hires.
  • Online training is required in order to apply for card. Also, annual refresh training required to keep card active.
  • In addition to a recorded video training session in each country’s language, we are also requiring a confirmation that employees read the Policy.
  • Periodic webinars / zoom calls if significant changes to functionality or process.
  • We require all cardholders, and their managers, to take the training and pass the end of training quiz with a 100% score. We consider the card a privileged, niche solution. The subject matter expert reviews and updates the training annually.

Closing Summary

The good news is that many Peeriosity member companies are using either online cardholder training or face-to-face or video classes for cardholders.  The bad news is that there remains a significant number of companies who rely on written documentation for training or punt the training responsibility to the supervisor or manager.   Getting it right the first time can dramatically reduce the frustration of cardholders, and significantly improve the efforts of Shared Services to ensure transactions are appropriate, with the right attention to business controls.

What is the primary way cardholder training is delivered at your company?  How effective is the training in terms of compliance and overall results?

Who are your peers and how are you collaborating with them?

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 “iPolling” is available exclusively to Peeriosity member company employees, with consultants or vendors prohibited from participating or accessing content. Members have full visibility to all respondents and their comments. Using Peeriosity’s integrated email system, Peer Mail, members can easily communicate at any time with others who participated in iPolling.

Peeriosity members are invited to log into www.peeriosity.com to join the discussion and connect with Peers.   Membership is for practitioners only, with no consultants or vendors permitted.  To learn more about Peeriosity, click here.

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