BMO Financial Group
TSX : BMO
NYSE : BMO

BMO Financial Group

April 15, 2013 10:00 ET

NAPCP Conference: Supply Chain Expert to Share Best Practices for Transitioning to Purchasing Cards

- BMO Financial Group Customer Shares Best Practices for Purchasing Card Program Expansion

- Kim Cupp from Xcel Energy to Highlight Cost-Saving Opportunities, Benefits to Buyers and Suppliers, and Strategies for Successfully Managing Corporate Card Expansion

TORONTO, ONTARIO--(Marketwired - April 15, 2013) - Using purchasing cards (p-cards) as a preferred payment method generates cost-savings, rebates, and spend compliance for corporations and their suppliers, but the migration away from traditional purchase-order processes and workflows can be daunting.

Kim Cupp, Supply Chain Support Services Analyst at Xcel Energy, will present steps and strategies for analyzing spend categories, enlisting departments and suppliers, streamlining the purchasing process, and managing the transition to p-card at the 2013 NAPCP 14th Annual Commercial Card and Payment Conference in New Orleans on April 16.

Attendees will learn best-practices to:

  • Identify categories and suppliers ideally suited for p-card payment;
  • Educate suppliers on the process efficiencies and cost-savings benefits of p-cards;
  • Ensure internal buy-in and compliance with procurement policies.

Xcel Energy is a national provider of energy-related products and services, and has operated a p-card program since 2004. Xcel's p-card issuer, BMO Financial Group, recently undertook an analysis of Xcel's p-card program, and identified $2.6 million in new spend fit for p-card in 2012 - yielding close to $300,000 in process savings, increasing the company's total rebate, and improving company-wide spend compliance.

WHAT: Uncovering Cost-Savings Opportunities Through P-Card Program Expansion

WHO: Kim Cupp, Supply Chain Support Services Analyst

WHERE: 2013 NAPCP 14th Annual Commercial Card and Payment Conference, New Orleans

WHEN: Tuesday, April 16, 1:45 - 2:30 pm CT

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $542 billion as at January 31, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.

About Xcel Energy

Xcel Energy (NYSE:XEL) is a major U.S. electricity and natural gas company with regulated operations in eight Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.

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