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Streamlining Vendor Onboarding

The Benefits of a Vendor Portal-Based System Vendor onboarding is a necessary and important process for any business. Streamlining vendor onboarding and managing vendors can have a significant impact on a company’s operations, supply chains, and bottom line. One way to enhance this process is through the use of portal-based vendor onboarding systems. These digital […]

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Benefits of Dynamic Discounting

A win for buyer and supplier in a high-interest rate environment In today’s fast-paced and high interest rate environment, maintaining strong supplier relationships is essential. One way to achieve this while also maximizing savings is by offering suppliers a dynamic discounting program. This financial strategy becomes even more compelling in a high-interest rate environment where […]

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Vendor Portal Functionality

A 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 […]

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Automated Vendor Onboarding Process

Save 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, […]

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AI-Assisted Back-Office Applications

Where to leverage artificial intelligence AI-assisted applications can greatly drive financial back-office automation by streamlining processes, reducing manual effort, and increasing accuracy. Here are a few AI-powered applications that can be utilized in financial back-office automation: Accounts Payable Automation (AP): AI-assisted software can automate repetitive tasks such as data entry, report generation, and invoice processing. […]

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Vendor Management Portals

What 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 […]

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AI’s Impact on the Financial Back-Office

May 8, 2023

AI Leads to Efficiency AI is already having a significant impact on financial back-office operations, and its influence is expected to increase exponentially in the coming years. While many will see opportunity others will not be so be so optimistic. AI is here to stay and its influence and presence will become ubiquitous. Here are […]

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Why Procurement Needs Vendor Portals

Increase 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 […]

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