KeyBank is a thriving, Cleveland, Ohio-based regional bank. With roots tracing back nearly two centuries, today the bank has a presence in 15 states, a workforce of 17,000 and $146.7 billion in assets.
As one of the nation’s largest bankbased financial institutions, Robert King, a senior client manager, said what really sets KeyBank apart is the level of service and support the bank provides to customers.
KeyBank is a proud IMARK member service provider, providing members with a purchase card opportunity, Key2Business, an efficient, costeffective way to purchase and pay for small-dollar and high-volume purchases like travel and entertainment (T&E) expenses, as well as raw materials and office supplies.
“As part of our partnership with IMARK, we provide members with an unprecedented 2% rebate on spend when using the Key2Business purchase card,” King said. “It is simply unparalleled and well above the industry standard.”
The traditional procure-to-pay process that most companies follow to pay suppliers can be cumbersome and costly. It typically involves a requisition, purchase order, invoice and finally, a check payment. Sometimes when paying for low-value purchases, the cost can even be higher than the value of the actual item being bought.
Payment processing costs for paper and postage can be significantly reduced with the Key2Business card. It also dramatically reduces the risk of fraud because it eliminates common methods of check fraud.
“Reducing fraud, saving on paper costs and receiving a 2% rebate—that’s a major win,” King said. “We’ve worked with many IMARK members over the years, who can attest to the impact of a quarterly 2% rebate. Over time, it has a significant impact on a company’s bottom line.”
KeyBank is a thriving, Cleveland, Ohio-based regional bank. With roots tracing back nearly two centuries, today the bank has a presence in 15 states, a workforce of 17,000 and $146.7 billion in assets.
Kennewick Industrial & Electrical Supply Inc. DBA/KIE Supply, which has been a member of IMARK Electrical and IMARK Plumbing (formerly OMNI) for more than 15 years, has used Key-Bank’s IMARK Mastercard program ever since it was developed for OMNI.
“This is a great program that pays a fair rebate and has the additional benefit of being easy to administrate,” said Gus Kittson, president, KIE Supply.
Some of the advantages the company has gained through use of the program include:
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A rebate of 2% on all purchases
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Easily adjusting individual credit card limits within the overall master limit
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Easily ordering cards for new salespeople
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A monthly statement that shows all charges under the master account on one statement making it easy for accounts payable to post
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An alert when any card gets near its credit limit
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The ability to limit a card to certain types of purchases
“I strongly recommend you consider KeyBank’s IMARK Mastercard program,” Kittson said. “It has worked well for my company.”
As the payments industry continues to evolve at a rapid pace, King recommends that clients examine their existing approval processes, as well as T&E expenses, one of the largest expense categories for most organizations. With advances in technology, there are new T&E management tools to help analyze spending trends, identify payment fraud and streamline processes.
“We are deeply invested in the success of our clients and value the relationships we create, especially with IMARK members,” King said.
“We invest significant resources in staying up-to-date with new technology and are continually improving the services and solutions that are available to our customers.”
KeyBank is a proud IMARK member service provider, providing members with a purchase card opportunity, Key2Business, an efficient, cost-effective way to purchase and pay for small-dollar and high-volume purchases like travel and entertainment expenses, as well as raw materials and office supplies.