Operations: Streamlining supplier payments
Driving performance efficiency by automating supplier interactions
The headline
Businesses rely on their suppliers to deliver them the inputs they need in their value chain. Yet naturally, their focus is on their own customers, driving innovation and looking for growth. Managing suppliers is a necessity, rather than a desire.
But what if managing suppliers can be a positive experience, value-adding, equity-building, and highly efficient? With our Vendor Portal solution, our customers are gaining a comparative advantage with their own suppliers through transparent processes, frictionless payment, and excellence in communication.
The challenge
Our clients are global organisations, with thousands of suppliers across the world. Similar to Purchase Order Scanning, supplier invoices can come in almost unlimited formats, and often come with a high service demand; suppliers want to have multiple follow-ups on payment status, and around invoice queries.
All of this takes time and effort. None of it drives growth. It doesn’t ‘help the boat go faster’. But it is necessary, and to have a sustainable business companies need a reliable supply chain. How can technology enable closer and more effective supplier relations, whilst driving a win for enterprise performance and efficiency?
The solution
Our vendor portal for supplier management solution provides a central web portal integrating into the host client system. It automates the ingestion process of incoming supplier communications, such as invoice submissions, and enquiries. RPA processes invoices and notifications with suitable approval governance to provide the host client with accurate management information and full control.
Suppliers are benefiting too. They gain real-time visibility through a secure self-service dashboard, reducing manual enquiries and reducing their uncertainty over payment status.
The result
We forecast this automation will save our clients an average of 400,000 hours of adminstration per annum.
The intangible benefit is through the comparable benefit for our clients with their suppliers. Think about it from your perspective – would you prefer to work with a client who shows you what your current payment status is for all outstanding invoices, when you’ll get paid, and how to query any variances? All without any time cost to you, or them?
“By automating a process to match our client's needs, we’ve turned a cost centre on its head to become an enabler of efficient supplier relations.”
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