TECHNOLOGY
By fostering better interaction with suppliers , it becomes more logical to attain the desired level of engagement ,” he says . “ So what that means is , it can be a true marketplace where I ’ m not a supplier waiting on the portal for orders to come to me , but I should be able , as a supplier , to actually go out and try and get orders and make deals proactively . It shouldn ’ t always be like a supplier waiting for the order to come in , but their active participation in the marketplace .”
That longer term trend is balanced again the march of AI powered innovations , and the rapid realisation of the potential they can have to improve performance .
“ This could not have come at a more crucial time ,” says Keulen .
“ Organisations are handling massive amounts of invoice data but often lack the resourcesto streamline their processes . AI enables companies to reduce reliance on manual , error-prone tasks and increase invoice processing speed with automation .”
The ultimate aim of a supplier portal is to streamline and standardise the relationships between the customers and the suppliers , to reduce frictions and make every transaction seamless . The explosion in AI tech is providing an ever increasing selection of solutions that help maximise business efficiency at every step of the purchasing process .
“ For supplier portals , this specifically applies to automating inputs for key information like address changes on invoices ,” continues Keulen . “ It may seem like a small detail , but having the correct information for each supplier can be the difference between getting paid on time or two weeks late .” procurementmag . com 127