Vendor Portals, or Supplier Portals as some refer to them, have been around for many years but recently are rapidly becoming a must have technology for vendor management. From Procurement to Accounts Payable, a vendor portal provides an important platform for parties to communicate, collaborate, and transact 24×7 from anywhere in the world. In the current challenging times we find ourselves in, vendor portals also provide a business critical platform to support a remote workforce.
Vendor portals are rapidly becoming the hub at the center of the vendor management and vendor transaction life cycle. With the tremendous economic and operational benefits that come from vendor self-service, vendor portals and supplier portals have exploded in popularity. Consider what a comprehensive vendor portal can deliver:
- Vendor onboarding (supplier onboarding), sourcing & information management
- AP Automation
- PO dispatch and updates
- Payment inquiry
- Online invoice submission
- Payment dispute submission & tracking
- Dynamic discounting & supply chain finance
- AR transaction management
- Reporting & dashboards
- and much more all in a self-service environment on a single platform
Do What’s Best For Your Business
ICG Consulting’s cloud hosted, vendor portal solutions can be deployed in a phased approach as needed, building a PtoP vendor self-service platform over time. The benefit of having all of this functionality on a single platform with the vendor now assuming many manual tasks and research that was once entirely the responsibility of the buying company is truly compelling!
Much like we have seen in other areas of back-office operations, users are looking for efficient, comprehensive, single platform solutions. Platform independent solutions that do not rely on closed networks or force you and your suppliers to pay and pay and pay are becoming the standard. Take a look at what is out there, and you may be surprised how far these solutions have come. Contact ICG Consulting today for more information. Or click here to schedule a demo of one of ICG’s cloud hosted portal solutions.