Our configurable solutions can be rapidly implemented to equip your workers with the tools they need to process transactions and manage vendors from any location.
The investment may be worth it, but there are upfront and ongoing costs. As summer winds down and we head into budgeting season, many companies will have Artificial Intelligence (AI) solutions on their radar for the upcoming budget year. When formulating your budgets keep in mind that the costs of implementing advanced AI in an […]
Read FullCommon goals = big payoffs. Collaboration between procurement and finance is a key element to improving efficiency and profitability in your organization. Here are some ways they can work together: Cost Analysis and Budgeting: Procurement and finance teams can collaborate to analyze costs associated with the acquisition of goods and services. By sharing data and […]
Read FullA variety of functions depending on industry & vendor management process A vendor portal is a central platform for vendors or suppliers to communicate, collaborate, and transact with an organization. The specific features and functions can vary depending on the organization’s needs and the vendor management process. Common functions you can expect from a vendor […]
Read FullSave money while accruing more great benefits! Automating the vendor onboarding process can provide a number of benefits in addition to significant cost savings for businesses. Below we discuss a number of the benefits of implementing a cloud-hosted, automated vendor onboarding process: Let’s start the discussion by addressing the most obvious, and possibly most important, […]
Read FullIt’s all about the analytics! AI (artificial intelligence) increases performance, lowers supplier risk, and decreases costs in procurement operations. Here are some key areas where procurement practitioners can utilize AI to make a significant impact on their operations: Demand Forecasting: AI algorithms can analyze historical data, market trends, and external factors to provide accurate demand […]
Read FullAI can be an enabling technology and need not be an “all or nothing” proposition. Using elements of AI to augment and strengthen embedded technology solutions can provide significant short-term benefit
Read FullArtificial Intelligence (AI) plays a crucial role in data capture and OCR (Optical Character Recognition) applications, revolutionizing the way we process and extract information from various sources. For accounts payable (AP) departments and other financial back-office areas, AI assisted data capture can provide tremendous efficiencies and increased accuracy.
Read FullWhat are they? Why do I need one? Vendor management portals, also referred to as vendor portals or supplier portals, are cloud-hosted software platforms that allow organizations to efficiently manage their relationships with suppliers, vendors, and contractors. Some of the key features and benefits of a vendor management portal include: Centralized Database: A vendor management […]
Read FullIncrease efficiency, decrease vendor risk and track service levels Vendor portals offer many benefits to procurement departments. We will look at some general benefits these highly collaborative, cloud-hosted portals provide. Then, we’ll dig a little deeper at some specific procurement-related functionality. Vendor portals and supplier portals offer many benefits to procurement: Vendor portals can offer […]
Read FullCost per invoice = (Total personnel costs + Total overhead costs + Total technology costs + Other costs) / Total number of invoices processed
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