TECHNOLOGY
The benefits of a well implemented supplier portal are unquestionable compared to the alternatives . A properly implemented system can avoid many of the obvious pitfalls that can surface from communicating only via emails or manual data entry . This can lead to increased human error and security risks for business data .
Michael van Keulen , Chief Procurement Officer at Coupa , believes there are a great many benefits as it promotes transparency between buyers and suppliers , streamlines operations , and helps resolve conflicts quicker .
“ With multiple users engaging in a purchase order or invoice , it ’ s easier and moreefficient to collaborate in a centralised network where all parties can work on the sameitem simultaneously ,” he says . “ This reduces the risk of errors by reconciling purchase orders , invoices , and payments .”
CEO of Vroozi Shaz Khan adds to this , as there are also benefits to the supplier by using a supplier portal . “ Frequently , suppliers resort to calling and posing the infamous questions , ‘ Did you receive my invoice ?’ and ‘ When am I going to get paid ?’ This accounts for 25 % of accounts payable ’ s ( AP ) time ,” says Khan . “ By utilising a supplier portal , suppliers gain visibility and can verify whether the invoice is in process , along with the payment status . This visibility significantly reduces the time spent by AP personnel , freeing up approximately 25 % of their time .”
What makes a good supplier portal ? As with all business solutions , the ease of use and the intuitive nature of the portal
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