ServiceMaster Optimizes Payments And Exterminates Inefficiency With Single-Use Accounts
Source: JPMorgan Chase
ServiceMaster's Terminix business implemented a branch purchasing card program as an alternative to paying its subcontractors by check. An internal audit revealed concerns regarding control and risk that led the company back to checks as the preferred method for these payments. The change lowered the company's purchasing card spend, and subcontractors were unhappy going back to the longer payment cycle associated with checks. Single-Use Accounts, J.P. Morgan's alternative payment solutions, was suggested as a way to solve the problems associated with ServiceMaster's subcontractor payment process without jeopardizing the rebates the company was enjoying with its purchasing card program. With Single-Use Accounts, ServiceMaster has eliminated duplicate charges, and no one can request a card number without the proper approval.