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.
It’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 FullWhy Vendor Management is Important 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 […]
Read FullFinancial Back-Office Compliance Financial back-office compliance is 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 ensure compliance. Manual tracking of such […]
Read FullWhat is a vendor packet? A vendor packet is a collection of forms and documents that a buyer sends to a potential new vendor before starting 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 simple or robust depending […]
Read FullWhat is Supplier Onboarding? 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 solution should offer functionality such […]
Read FullWhat is Vendor Management? 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. How Does Vendor Management Work? The first step in a Vendor Management is typically procurement, where a buyer sources and negotiates a contract […]
Read FullWhat are supplier portals? Supplier Portals (or Vendor Portals as some people call it) is a web-based, supplier management solution that allows you to collaborate with your suppliers in a secure, online environment. Among the functions a Supplier Portal can provide is to allow organizations to streamline the Supplier Onboarding process via supplier self-service as well as […]
Read FullWhat is a TIN Check? When onboarding a new vendor, a TIN Check is an important component of ensuring compliance. It 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. A mismatch occurs when the IRS cannot […]
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