Supplier Self Service

Supplier Self Service portals are a best practice enablement tool that can improve the performance of your eProcurement, and eInvoicing systems, but did you know they are good for suppliers as well?

Supplier Self Service portals

Supplier Self Service portals are a best practice enablement tool that can improve the performance of your eProcurement, and eInvoicing systems, but did you know they are good for suppliers as well?

Supplier self-service portals, long seen as a pivotal piece of your internal supplier satisfaction strategy are now being recognised for the major benefits that are seen be the companies that make up your supply chain.A community of suppliers is typically much larger than the internal company’s community, within a business organization itself. Therefore, it is essential to evaluate supplier benefits associated with an electronic purchasing set of solutions that are supposed to help your business handle the overwhelming supplier numbers. In addition, suppliers can gain as many benefits from a properly structured eProcurement solution as the company which successfully implements and uses it. Some of these benefits include improved security features, increased time efficiency, and the full transparency of orders, including the receipting process itself.

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Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.The ability to adjust and change account details in a safe way online, which also includes an approval process for any additional account changes, is an essential feature for any eProcurement solution that simply cannot be overlooked. On the other side, the immediate system updates, in the real time, ensure that your payments are always executed promptly and associated with the appropriate bank accounts. Additionally, this benefit of supplier self service portals also minimizes the risk of unwanted and fraudulent activities.

Improvements of the cash flow process are among the top priority for many companies and an eProcurement system can assist in this field, as well. Electronically received and processed purchase orders contribute to simplicity and efficiency of payment and delivery of goods process. In this way, the concept of so-called early payment discounting is being both promoted and supported within supplier self service portals.

Assisting the monitoring process of outstanding payments particularly comes in handy when your company has to deal with invoices, which are overdue. This benefit helps suppliers to keep up to date when it comes to payments and necessary actions associated with the delayed payment problems.

Besides these financial benefits for a supplier, the electronic procurement system can also save a great and an invaluable amount of time thanks to the reduction of errors, which often follow manual processes. This important goal can be achieved with a simple introduction between your supplier self service portals and an online eCatalogues that provide all users with a useful transparency of the entire ordering process.

 

Finally, when you add to it a user-friendly, and easy to navigate system interface, where the required training time is minimized, then you’re strengthening the argumentation for introducing an electronic procurement system even more. In this way, you’re contributing to the development of your supplier community with the help of new technologies and eProcurement solutions. On the other side, it almost comes without saying that implementing a new system is never an easy and a painless task. Yet, with the proper understanding and continuous highlighting of these key benefits to your suppliers and their business, you can ensure that both parties find themselves in a true and rewarding win-win position. The numerous benefits from almost each and any eProcurement solution are waiting to be discovered and exploited by your organization. It’s up to you to identify and apply the most suitable ones.

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