Vendor Portals, or Supplier Portals as some refer to them, have been around for many years but recently have become 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 can also provide a business critical platform to support a remote workforce both internally and externally. And a vendor portal (or supplier portal) can be adapted to many more processes than most people realize.
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)
- AP Automation
- PO dispatch and updates
- Payment inquiry
- Online invoice submission
- Payment dispute submission & tracking
- Dynamic discounting & supply chain finance
- Reporting & dashboards
- and much, much more
Take your back-office operations to the next level!
ICG Consulting’s cloud hosted vendor portal solutions can be deployed in a phased approach as needed, building a P-to-P vendor management, self-service platform over time. The benefit of having all of this functionality on a single platform with the vendor now assuming many of the 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 efficiency, automation, and increased collaboration with internal and external stakeholders. Cloud-based vendor portals and supplier portals offer the perfect platform to build your vendor management/self-service program and start realizing the tremendous economic and operational advantages they offer. Contact ICG Consulting today for more information. Or click here to schedule a demo of one of ICG’s cloud hosted portal solutions or view a recorded demo on our YouTube site .