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In this new social distancing world, push non-value add tasks back to your vendors. Vendor self-service is hardly a new concept, it has been gaining traction steadily, especially with larger companies. Using the many procure-to-pay tools and systems in the marketplace companies can reduce costs and gain efficiencies by pushing non-value add activities out to […]
A vendor portal (or supplier portal) refers to a portal that allows vendors to access and provide the buying company with necessary information in the form of documents or data as well as access documents and data provided by the buying company related to the transactions between the two organizations. Submitting invoices, tracking payments and […]
Cloud hosted and portal based PO Dispatch & Update solutions can help insure that your suppliers receive, acknowledge and respond to the purchase orders your company sends them. In many companies time is of the essence for suppliers to fulfill a purchase order by shipping or delivering the procured product or service in a timely […]
Back Office Word of the Week 10/21/19 A vendor packet is a collection of forms and documents that a buyer sends to a potential new vendor in order to start a relationship. The packet includes all the necessary information needed to set up a new vendor for payment and compliance. Vendor packets can be relatively […]
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 […]
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 […]
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 inquiries. […]
Vendor portals and supplier portals can be a powerful tool in enabling vendor self-service in your organization from your procurement and purchasing operations to your accounts payable department. By leveraging the flexibility of a supplier portal or vendor portal companies can automate non-value add processes and let vendors collaborate with your organization on-line, 24x7x365. Vendor […]
The activities, transactions, information sharing and collaboration required between the buying company and the vendor can be very manual and time consuming. These tasks also reach across multiple departments such as risk management, accounts payable, legal, security, finance, procurement and many other. Many of these tasks surround collecting and continually updating information from those vendors. […]
