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
The Importance of Vendor Compliance
Vendor compliance is a cornerstone of a well-managed business, and keeping a close eye on your vendors to ensure compliance at all times is crucial to limiting your organization's risk. What is Vendor Compliance? Vendor compliance is the process of ensuring your...
7 Benefits of Using a Vendor Portal
For companies managing a large number of vendors, the onboarding process can be a time-consuming and error-prone task. From collecting paperwork to verifying information, a manual onboarding process can be a significant drain on resources. A vendor portal offers a...
Back-Office Automation in Food Distribution
Back-office automation in food service distribution can bring about several benefits, streamlining operations, improving overall efficiency, and adding to the bottom line. The economic and supply chain benefits of automation cannot be overestimated. Here are some key...
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