Our configurable solutions can be rapidly implemented to equip your workers with the tools they need to process transactions and manage vendors from any location.
What is Vendor Onboarding? Vendor onboarding, or supplier onboarding, is the process of gathering the documents and data needed to set up a company as an approved vendor and to enable your organization to efficiently conduct business, purchase goods and services, and make payments to that company. A vendor onboarding solution should offer functionality such […]
Read FullWhat is Data Capture? Data Capture is the process of “capturing” and converting information from documents (paper or electronic) into a form that can be handled electronically, and preferably with little or no human intervention. In an Accounts Payable (AP) environment this information is extracted from invoices of varying formats and file types so the […]
Read FullWhat is Invoice Matching? Invoice matching is the comparing and linking of a supplier invoice with the underlying data on which the cost is based, such as a contract or purchase order (PO). Usually companies will perform a 2 or 3 way match. A two way match compares the invoice amount to the corresponding PO. If […]
Read FullWhat is a PO Flip? A PO Flip, is essentially a conversion of a purchase order into an invoice. Usually done electronically or through an automated solution such as a Vendor Portal or Supplier Portal. In a PO Flip scenario the vendor would enter a PO number into a web form and the the buying […]
Read FullWhat is Vendor Self-Service? Vendor Self Service is a benefit of Vendor Portals and Supplier Portals. Vendor Self-Service Portals allow a vendor to provide and access information without intervention from the buying company. This data may be necessary for vendor onboarding, compliance or payment or may be the results of payment status or payment dispute […]
Read FullHow to ensure you are managing your spend well One of the components of vendor management program that is often either overlooked, or over killed with a system that provides lots of complex data to help you “manage” your spend, is spend analysis. For many companies the trick to managing their spend (their colleagues buying behavior) […]
Read FullHow ICG Works with the Food Industry Financial back offices in the food manufacturing, food distribution, food service and related industries are full of complexities due to their dynamic nature – pricing, costs, allowances, rebates, deductions and other information that needs to be up-to-date and accurate. Some of this information can literally change hour to […]
Read FullHow to use data capture, assembly, and import to your advantage Extracting accurate data from invoices and dynamic documents in different forms and from multiple channels has always been a challenge. But an even larger issue is feeding that data to a processing platform in a consistent format. ICG’s data capture, assembly, and import tools […]
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