Back office Word of the Week 10-14-19
Supplier onboarding, or vendor 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 supplier onboarding or vendr onboarding solution should offer functionality such as vetting and validation to insure the prospective vendor is compliant with laws/regulations; diversity data, validation and tracking; W9 and W8 collection; TIN validation; insurance; and all the other data and document collection needed to do business with a vendor.
ICG Consulting’s vendor onboarding and supplier onboarding solutions also provide for ongoing maintenance and administration of your vendors and suppliers by tracking and providing notification of expirations of licenses, insurance policies, and other time sensitive compliance information.
At ICG Consulting, we provide a faster and easier way to request, receive, validate and approve information from your prospective vendors through our highly configurable vendor portals and supplier portals. ICG’s vendor portal solutions provide a comprehensive vendor self-service platform for your company to effectively and efficiently manage your suppliers and vendors.