Vendor Portals
Utilizing vendor portal technology streamlines communication and collaboration with vendors. These platforms provide a centralized hub for managing purchase orders, invoices, payments, and other vital information fostering transparency and efficiency. This strengthens vendor relationships.
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Promote Vendor Self-Service
Allow your vendors to submit or retrieve crucial information 24/7 without contacting you.
Real-Time Collaboration
Portal forms and workflows allow you and your vendors to exchange invoices, documents, comments, etc.
Save Time and Money
When vendors take over tasks that your team historically completed, your organization saves time and money.
ICG’s vendor portal was the right solution for our business because we could introduce functionality over time. Between the Inquiry and Disputes models, our company was able to reallocate over 50% of those resources to other activities. In addition, the company was able to receive over 2,000 invoices per week to flow through the portal – it constantly saves time and money. A win-win all around. To be fair, I had some reservations about the degree of use we would actually achieve with our vendors, and in the end, I was astounded by the high adoption rate. We frequently heard vendors cite the ease of use as a strong driver to get them to use the portal features. Our experience was nothing short of astounding!
Relevant Blog Posts
Automating Vendor Management
Benefits of Automation Vendor management covers many areas regarding 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...
Vendor Diversity Tracking & Compliance
More and more companies are tracking their diverse vendor population and reporting on purchase percentages and total spend with these diverse vendors. Many companies have redoubled their efforts or started new initiatives to ensure their organizations have diversity...
PO Dispatch & Update: Ensuring On-Time Delivery
What Is PO Dispatch & Update? PO dispatch and update refers to the processes involved in managing purchase orders from when they are created to completion, ensuring on-time delivery to vendors. This also includes tracking any changes until the PO is ultimately...
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