Vendor management has been getting increased exposure among large businesses lately. Some of that can be attributed to the times we are in and the increased focus on those critical suppliers and vendors in your supply chain. Now more than ever it is critical to manage key vendors by insuring compliance and supporting vendor health. […]
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As we head closer to 2022 the new year promises a time of continued challenges and lots of opportunity. With the emergence and wider adoption of new information management technologies like Blockchain, Robotic Process Automation, Big Data or IOT, companies have more options for managing actionable data than ever before. While these technologies may not […]
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Cloud based solutions are very popular and are quickly becoming the standard for deploying business applications. Current estimates are that companies will continue to drive double digit growth in adoption of cloud based solutions well into the future. The benefits of cloud hosted solutions, both financial and operational, are well documented and fairly well established […]
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“Suppliers who can submit invoices through electronic means generally can get paid faster and experience less payment issues from keying errors in the buyers AP department,”
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Vendor Management covers many different areas of how companies identify, onboard, and transact with vendors and suppliers who supply goods and services to their organization in exchange for payment. The processes involved in managing these vendor centric activities can vary greatly by industry, company, and even departments within a company. Companies that rely heavily on […]
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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, or at very least missing out on opportunities for more efficient supply chains by not taking a more strategic view of vendor management? For organizations in […]
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It is time to take a look at your back-office processes and target areas where you can increase efficiency.
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Today as cloud based applications are becoming more ubiquitous, AP automation, including many of the sophisticated technologies that were out of reach in the past, has become more affordable and available to many more companies.
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Lately one trend seems to be a swing back to companies looking at “best-of-breed’ solutions to address a myriad of business issues. This seems to be reversing a cycle where many CIOs were choosing to go with ubiquitous ERP systems to address most of their business processes.
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By taking a proactive approach you can better manage your critical supply chains and avoid costly delays and last minute surprises. ICG’s solution even provides the capability for the buying organization to request updates on specific line items within the PO.
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