The financial back-office – accounts payable, accounts receivable, procurement, payroll, etc. is often considered necessary but not strategic. As a result of this view, the back office doesn’t get the executive exposure needed to unlock the value hiding...
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...
What are Vendor Packets? A vendor packet is a collection of forms and documents 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 up a...
Importance of Vendor Management Now more than ever it is critical to manage key vendors by ensuring compliance and supporting vendor health. Maintaining healthy supply chains is vital where demand exceeds supply in many industries. We have seen an increase in...
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...
