Here’s how a vendor management portal helps you
digitize your supplier relationships:

Streamline Supply Chain Interactions

Streamline Supply Chain Interactions

The larger the pool of suppliers you have the greater the difficulty in managing them without the right Vendor Portal solution. As different suppliers have different ways to interact, it can be a tough task to get them to sign up for a single process. There’s very little consistency from supplier to supplier based on how they’d like to interact with you. A self-service vendor management portal helps you streamline the interactions with your suppliers.

Eliminate manual tasks

Eliminate manual tasks

Gain supplier visibility

Gain supplier visibility

Without full visibility of suppliers and their
information, it’s challenging and costly to manage them. It’s vital to have an
accurate and updated supplier and product information to ensure accountability
and information sharing. By having communication lines open and sharing clear
expectations of service levels, performance standards, and corrective measures,
you can standardize collaboration with suppliers and prevent business
disruptions. 

Increase accuracy and transparency

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Increase accuracy and transparency

Having key vendor management processes automized and standardized makes it easier for suppliers to comply with your internal process. This also ensures that you are always in complete control of suppliers’ spend and visibility. The streamlined processing of vendor transactions through capture, matching, and approval means only exceptions need to be handled by buyers team members. Additionally, a vendor portal also keeps a check on problems such as duplicate invoices, missing PO numbers, and unregistered vendors at source before they cause bigger problems and more work downstream.

Promote best practice across the supply chain

Promote best practice across the supply chain

With a standardized approach to supplier management, it’s possible to maximize supply chain accuracy and timing, identify supply problems and improve document and payment processing. With clear cost advantages to both parties, the best way to seek continuous improvement is to gain a single unified view of supply chain activity.

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