Charged for Change

How Vontier Re-Energised Procurement with a Fresh Take on Cards

When global mobility technology company Vontier sought to optimise procurement payments and working capital across its European entities, it turned to long-standing banking partner BNP Paribas for assistance. Together they designed an innovative procurement card programme that streamlined supplier payments, strengthened cash flow, and set a blueprint for the next wave of digital card-to-account innovation.

As a publicly listed group headquartered in North Carolina, USA, Vontier’s portfolio spans multi-energy fuelling and EV charging, car-wash technology, and vehicle repair tools. In Europe, its diverse operations cover numerous entities across continental borders, including Gilbarco Veeder-Root, a leader in fuel management systems.

Such geographical breadth inevitably brings complexity to treasury and procurement processes, especially when interest rate movements start to reshape the economics of long-standing financial arrangements, including card programmes.

According to Alison Crossman, Global Treasury Manager, Vontier, the abrupt end of the era of negative euro interest rates acted as a catalyst for reviewing and optimising the company’s procurement card set-up. “Rates had been negative for almost a decade, which meant that we’d been able to secure a pretty favourable card programme on that basis,” she explains.

“But once rates turned positive, our existing provider could no longer sustain the original terms, and the new conditions on offer were not as competitive as we needed. It was the right time to test the market, benchmark pricing, and ensure we were getting the best value available.”

Crossman adds that consciously looking to avoid complacency, or product and provider inertia, was also a factor in her decisions. “When a programme has been in place for several years, it’s always a good idea to shop around and see what else is available because the market evolves, and treasurers need to keep pace.”

Finding the right route

With this mandate front of mind, and after exploring different options from providers, Vontier chose BNP Paribas for a procurement card programme that could do more than just replicate existing arrangements. The project was designed to optimise both working capital and the procurement payment process, while ensuring that suppliers continued to be paid promptly in line with negotiated conditions.

Crossman says an existing relationship with the bank made the choice of partner far easier. “BNP Paribas is one of our key banks, and I had worked with them for more than eight years in a previous role, where the service was consistently excellent. That gave me real confidence in their ability to deliver for Vontier. On top of that, BNP Paribas came forward with the most competitive and innovative solution, so it was a very easy decision for us.”

From the bank’s side, the history of collaboration was equally valuable, as Corine Spier, Director, Commercial Cards Sales - Payment and Cash Management Division, BNP Paribas, recalls. “Because we already had strong ties with Vontier, dialogue was open from the outset, with stakeholders on both sides engaged early. The challenge was not simply to replicate the programme Vontier already had but to exceed their expectations and future-proof the model.”

Innovation in action

Between them, Vontier and BNP Paribas designed an innovative set-up that rested on several key pillars, including the need to accommodate both direct and indirect procurement flows. For direct flows, the procurement card could be used in the conventional way. For indirect flows (where suppliers might not typically accept card payments) BNP Paribas integrated a designated PSP to convert card transactions seamlessly into bank transfers.

As a result, suppliers receive funds in their preferred format, while Vontier retains all the benefits of a card-based programme. As Crossman notes: “We can now maintain payment discipline even when quarter-end payment hold rules might otherwise delay disbursements. It keeps suppliers satisfied, strengthens relationships, and gives us greater control over our cash pool.”

Spier explains: “As a bank, we have been actively developing Card-to-Account solutions that can help corporates improve their DPO, while also enabling merchants to improve their DSO. And the project with Alison and the Vontier team demonstrates what can be achieved when you fully digitise B2B payments – with automation from end to end and no manual intervention.”

Another foundational pillar saw the bank commit to replicating the technical, pricing, and servicing model Vontier already had in place with its previous provider (but building on it), ensuring continuity while offering improved terms. “We wanted to make sure we could obtain better payment terms than the new ones being offered by our existing provider,” notes Crossman. “Miraculously, BNP Paribas managed to deliver a solution that was both competitive and operationally smooth.”

Security was also central to the design, leveraging virtual cards that are configured with tight parameters on spend amount, merchant, and transaction date, thereby reducing fraud risk and helping to enforce corporate spending policies.

And it’s fair to say that the results of all these efforts have been compelling, especially from a working capital perspective. Crossman enthuses: “The DPO for this entity has improved by four days, which is significant given the scale of the programme. We can also take advantage of early payment discounts, alleviate pressure on overdraft limits, and manage our cash pool more effectively. Cash flow has improved, costs are reduced, and our processes are more streamlined than ever.”

Built-in automation and partnership

The automation built into BNP Paribas’ virtual card system has also delivered new gains for Vontier. “The online card portal gives us enhanced visibility, automated recording of transactions, and greater accuracy,” Crossman explains. “It reduces manual effort and errors in reconciliation, enforces spending policies, and flags anomalies to strengthen compliance and fraud prevention. It has made our payment processes both safer and more efficient.”

Beyond the technology, Crossman stresses the importance of dedicated support: “During implementation, Corine and her colleague Jenny Gueguen provided a huge amount of hands-on guidance, staying with us for the first six months after go-live rather than immediately passing us to a generic helpdesk. That continuity was invaluable, and we now have a dedicated support team at BNP Paribas that knows our business well.”

For BNP Paribas, meanwhile, the Vontier programme illustrates a broader ambition in the cards and working capital space. “Our goal is to integrate closely with corporates in the management of B2B payments,” says Spier. “That means bringing together technical optimisation and working capital optimisation, and building long-term partnerships that evolve as markets and technologies change. With Vontier, we’ve been able to demonstrate that even established payment models can be re-engineered to deliver real improvements in efficiency, liquidity, and supplier satisfaction.”

Crossman is equally clear about the future direction: “We are now assessing procurement card programmes across all our European entities, and exploring how a travel and entertainment card programme might align with the procurement card to make life simpler for the teams managing them. Having one provider makes sense from a systems and efficiency perspective and we’re delighted with the relationship with BNP Paribas – so, long may it continue.”

Lessons learned

For any peers considering a similar project, Crossman offers some pragmatic advice. “First, understand your current set-up and pain points, so you know what you need to resolve. Then, make sure you shop around for the best deal – that’s vital. Also make an effort to keep colleagues informed, particularly those who will ultimately use the programme day-to-day. So, involve local finance teams early and build strong relationships with your provider. This openness and honesty creates trust, which is critical when implementing something as complex as this.”

Spier echoes the emphasis on collaboration. “Communication was central from the beginning, both within BNP Paribas and between our teams and Vontier’s. We committed to delivering the best implementation team and ongoing support, and that has been the foundation of a partnership that will continue to evolve with new innovations in the months and years to come.”