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Vendor Self-service

Portal based tools that deliver tremendous value and reduce risk. Vendor self-service is becoming a very popular trend in procurement, accounts payable and finance because of the tremendous value it delivers. Very simply “vendor self-service” is the process by which vendor management activities are directed away from the buying company to the the vendor, or […]

Read Full September 24, 2019

Vendor Management

Back Office Word of the Week – 9/16/19 Vendor Management (sometimes called Supplier Management) is the process by which a buyer formalizes a relationship with their vendors and suppliers and manages that relationship through its lifecycle. The first step in a Vendor Management is typically procurement, where a buyer sources and negotiates a contract with […]

Read Full September 16, 2019

Supplier Portals

Back Office Word of the Week – 9/9/19 A Supplier Portal (or Vendor Portal as some people call it) is a web-based, supplier management solution that allows you to collaborate with your suppliers in a secure, online environment. Among the functions a Supplier Portal can provide is to allow organizations to streamline the Supplier Onboarding process via supplier […]

Read Full September 11, 2019

TIN CHECK

Back Office Word of the Week 9/2/19 – TIN CHECK When On-boarding a new vendor, a TIN Check is an important component of ensuring compliance. A TIN Check verifies that either a Social Security Number (SSN) or an Employer Identification Number (EIN) is valid and matches a person’s or company’s name in the IRS Database. […]

Read Full September 5, 2019

Cloud Hosted Solutions

One of the most popular trends today in business is moving from on-premise and maintaining business applications on internal servers to cloud based applications. There are several reasons for this trend but two of the most common are that it reduces internal costs, particularly IT costs, and a greatly reduced IT role in getting new […]

Read Full August 20, 2019

Procure to Pay – Back Office Word of the Week 6/24/19

Procure-to-pay, sometimes referred to as P2P, is a term used in the software industry to designate a specific subdivision of the procurement process. The procure-to-pay systems enable the integration of the purchasing department with the accounts payable department. The term is derived from the ordered sequence of procurement and financial processes, starting with the first steps of […]

Read Full June 25, 2019

SaaS – Word of the Week 6/10/17

SaaS Is a method of software delivery and licensing in which software is accessed online via a subscription, rather than bought and installed on individual computers or servers. ICG has taken SaaS to a new level by providing Solutions as a Service in a single tenant, cloud hosted model. What that means is you get […]

Read Full June 10, 2019

Electronic Invoicing – Back Office Word of the Week 6/3/19

ELECTRONIC INVOICING Often abbreviated as e-invoicing or einvoicing, is an electronic form of billing used between customers and their suppliers. The documents shared between the two parties could include invoices, purchase orders, payment terms or any other relevant documents and data that are needed for supplier to submit and buyer to approve for payment. The […]

Read Full June 3, 2019

Vendor Portals – Back Office Word of the Week 5/27/19

VENDOR PORTALS A Vendor Portal (or a Supplier Portal as some people call it) is a web-based, vendor management solution that allows you to collaborate with your vendors in a secure, online environment. Among the functions a Vendor Portal can provide is to allow organizations to streamline the Vendor Onboarding process via vendor self-service as […]

Read Full May 28, 2019

Vendor Management – Think Strategically

For many companies vendor management is treated as just another back-office function to be administered by procurement and accounts payable.  But are those companies putting their organizations at risk by not taking a more strategic view of vendor management?  For organizations in many different industries the vendors or suppliers are at the heart of their […]

Read Full May 22, 2019