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7 Best Government Procurement Card Holder Practices to Improve Public Procurement in New York City

7 Best Government Procurement Card Holder Practices to Improve Public Procurement in New York City

In collaboration with JPMorgan Chase (JPMC), the State of New York has created a government procurement card, called NY State Purchasing Card (P-Card) which is intended to aid agencies in simplifying the process for specific micro-purchases. Government procurement cards are utilized by agencies to quickly and effectively buy goods and standard services without the additional steps mandated by the City's financial management system.

According to official reports, New York City spent $9.7 million on Government Procurement Card purchases in 2021. Considering this, we believe it would be advantageous to highlight 7 best practices that can aid government procurement card holders and government buyers in enhancing public procurement in New York City:

1. Understand the agency's procurement policies and procedures: Before making any purchases, government procurement card holders should take the time to understand the thresholds for government procurement card purchases, the required approvals, and the documentation that must be provided, by reviewing the agency's procurement manual or policy guide, attending procurement training sessions, or seeking guidance from their supervisors While the requirements may be similar, each agency has the ability to incorporate specifications tailored to their individual processes and functions.

2. Maintain accurate records: Maintaining accurate records includes receipts, invoices, and any other documentation required by government agencies. This will help ensure that the agency's procurement policies and procedures are followed, and will make it easier to track expenses and identify any potential issues. 

3Use verified vendors and suppliers: Government procurement card holders should only use verified vendors and suppliers that have been approved by their agency. When dealing with a government procurement card, it's crucial that their holders' purchase from approved vendors to guarantee transparency and accuracy in transactions. Currently, though each government agency manages its own criteria to verify vendors, they all usually verify their legal status, financial stability, and their compliance with laws and regulations. 

4. Seek out competitive pricing: Government procurement card holders and government buyers should research multiple vendors and compare prices, or use purchasing cooperatives or other cost-saving programs in order to find the best vendors depending on the agency’s budget and its procedures. 

5Promote supplier diversity: Many government agencies are committed to promoting supplier diversity and may have programs in place to support this. Government procurement card holders should seek out and support suppliers that are Women-owned, Minority-owned, or Veteran-owned. Supplier diversity is vital for the achievement of the agency's socio-economic goals. 

6. Monitor purchases and report any issues: Government procurement card holders should monitor their purchases regularly and report any issues or discrepancies to their agency's procurement office by reporting any fraudulent or unauthorized purchases.

7. Stay up-to-date on procurement regulations: It’s important to stay up-to-date on any changes to procurement regulations or policies that may affect their purchases. Government procurement card holders should check their agency’s updates regularly in order to know the latest regulations. Each government agency is responsible for announcing procurement regulations which may vary depending on the level of government and the type of procurement involved. 

Government procurement card holders play a crucial role in the government market of New York City. By making simple transactions, they have the ability to positively impact the local economy and generate significant change in the community. 

Would you believe it if we told you that accessing 5 out of the 7 best practices is just a few clicks away? It’s time for you to know Glass Commerce, an e-commerce marketplace for compliant transactions between government buyers and verified small vendors. Glass Commerce has helped government agencies procure over 5.8 million items from local, small, and diverse businesses, leveraging procurement data and streamlining operations across more than 30 federal, state and local agencies, including the State of Illinois, the City of Seattle and the City of Miami.

Glass Commerce enables government procurement card holders and government buyers to easily and efficiently monitor their purchases, compare prices, and identify the best suppliers for government agencies. With access to a list of verified vendors, users can also promote supplier diversity by prioritizing purchases from women-owned, minority-owned, or veteran-owned businesses.

Purchasing as a government buyer has never been easier.

 

This blog was written by Gisela Montes, GovTech Community Lead at Glass.

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