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Blog

When In Doubt, Go Full Out!

January 18, 2022

As a software business analyst, it’s a fun job to work along side software developers and test the client applications they develop.  It’s intriguing to help and watch a solution being developed that will eventually be used by a myriad of users in many different locations, performing many unique tasks.  However, there’s a lot to […]

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Vendor Diversity Tracking & Compliance

More and more companies are tracking their companies “diverse” vendor population and reporting on purchase percentages and total spend dollars with these diverse vendors. Many companies have redoubled their efforts, or started new initiatives, to insure their organizations have diversity within their vendor and supplier populations. In fact, many large corporations now have a Chief […]

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Procurement Meets Finance

For many organizations obtaining and sharing critical supplier information between different functional areas can be a frustrating task.  Siloed organizational structures, disparate systems that don’t communicate with each other and differing business objective are factors that contribute to this situation.  In fact, other key areas that have a stake in supplier relations such as supply […]

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Compliance

Back Office Word of the Week 11/4/19 In business, Compliance is defined as the confirmation that a provider of a service or a manufacturer or supplier of goods, adheres to all the requirements, regulations, legislation and specific standards of a contract. Ongoing maintenance and tracking of expiring certificates, licenses, permits and contracts is necessary to […]

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Vendor Packet

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 […]

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Vendor Management

September 16, 2019

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 […]

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TIN CHECK

September 5, 2019

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. […]

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Vendor Onboarding – Back Office Word of the Week 5/13/19

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 or supplier onboarding solution should offer functionality […]

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Top 4 Pain Points of Vendor/Supplier Management

January 14, 2019

Vendor/Supplier Management has become increasingly complex. Technological systems and solutions can increase efficiency and reduce some of the “pain” companies experience when trying to manage their hundreds or thousands of mission critical vendors. Check out ICG’s Vendor Management Tools. COMPLIANCE The complexity of vendor/supplier relationships increases as the vendor/supplier base grows in size. Vendors/suppliers may […]

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