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
Four Areas of Opportunity in Vendor Management
Vendor management is very complex and with the increasingly important role of stable supply chains, this complexity will only increase. Technology-based systems and process re-engineering can improve efficiency and reduce some of the pain of complexity. However, with...
Vendor Management: Are You Doing It Right?
Does your company view vendor management as just another back-office function administered by procurement and accounts payable? Is your company putting your organization's supply chains at risk with unstable suppliers? Are you missing out on opportunities for more...
Are You Ready for a Financial Slowdown?
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, we...
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