Is it a strategic part of your organization? Does your company view vendor management as just another back-office function to be administered by procurement and accounts payable (AP)? Is your company putting your organizations at risk, or at very least missing out on opportunities for more efficient supply chains, by not taking a strategic view […]
As managers search for areas of opportunity to shore up the bottom line in these economic times, one area of hidden value that is often overlooked is the financial back-office.
In the unstable economic times we are are currently in Dynamic Discounting provides an efficient way to optimize cash flow in a highly dynamic, real-time environment.
The time is now to drive efficiencies in your back-office operations The signs are all there: supply chain disruptions, increasing interest rates, high levels of inflation and now we are starting to see layoffs in certain companies and industries. An economic slowdown, perhaps even a recession, is here and for those of us who have […]
Procurement. Finance. Vendors. Keys to an effective vendor management program. An important part of smooth operating supply chains is onboarding and managing the vendors and suppliers that are key to your organizations success. Once onboarded it is critical that all the key stakeholders from procurement (purchasing), finance (accounts payable) and the vendor (supplier) communicate and […]
One size does not fit all, don’t limit your options. Vendor portals are powerful business tools that can address numerous pain points in your current Accounts Payable operations. Vendor portals can provide a platform for vendor self-service that can have immediate financial and human resource impacts on your organization. But beware, not all vendor portals […]
There has to be a better way! A vendor packet is a collection of forms and documents that a buyer sends to a potential new vendor in order to gather the required information to establish a business relationship. These packets generally include all the necessary information needed to set up a new vendor for payment […]
It’s not just about OCR Document and data capture has long been one of the most discussed and researched technologies in the financial back-office and accounts payable worlds. In fact, the need to automate the digitization of documents, and the capturing of data from those documents, was the driver of the development of both OCR […]
Process automation is an ongoing part of the business landscape in most organizations. Companies are continuously looking for ways to improve internal and external processes to accomplish a number of goals: Increased customer service Smooth out supply chains Reduced internal costs Improved vendor communications/relations Manage cash flow more efficiently Eliminate non-value add tasks Process automation […]
Vendor portals (supplier portals) can be a powerful tool in enabling a vendor self-service based vendor management program in your organization. The functionality can provide tremendous benefits to your procurement and purchasing operations as well the finance and accounts payable departments. By leveraging the flexibility of a supplier portal, or vendor portal, companies can automate […]