The signs are all here: supply chain disruptions, increasing interest rates, high levels of inflation, and layoffs in certain companies and industries. A financial slowdown, perhaps even a recession, is here, and for those of us who have been doing this for a while,...
An important part of smooth operating supply chains is onboarding and managing the vendors that are key to your organization’s success. Once onboarded, all key stakeholders from procurement (purchasing), finance (accounts payable), and the vendor must...
Vendor portals, especially tailored ones, are powerful business tools that can address numerous pain points in your current accounts payable operations. Vendor portals can provide a platform for vendor self-service that can have immediate financial and human resource...
What are Vendor Packets? A vendor packet is a collection of forms and documents that a buyer sends to a potential new vendor to gather the required information to establish a business relationship. These packets generally include all the necessary information to set...
Document and data capture has long been one of the most discussed and researched technologies in the financial back-office and accounts payable worlds. The need to automate the digitization of documents and the capturing of data from those documents was the driver of...
Workflow and process automation are an ongoing part of the business in most organizations. Companies are continuously looking for ways to improve internal and external processes to accomplish many goals. Here are some examples of goals that workflow and process...
Importance of Vendor Management Now more than ever, it is critical to manage key vendors by ensuring compliance and supporting vendor health. Maintaining a healthy supply chain is vital where demand exceeds supply in many industries. We have seen an increase in...
Want to learn more about ICG’s software analysis process? We spoke with Leslie Valencia, one of ICG’s business analysts, to dig a little deeper into the process. Here’s what she said: As a software business analyst, it’s fun to work alongside...
Why You Should Utilize E-Invoicing Every year, buyers and vendors exchange millions of invoices in the supply chain without using an e-invoicing solution. This creates inefficiencies for the buyer’s Accounts Payable organization, and can thus increase the Days Sales...
All About Vendor Management Vendor management covers many areas involving how companies identify, onboard, and transact with vendors and suppliers who supply goods and services to their organization in exchange for payment. The processes involved in managing these...
