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With the right supplier portal, work between companies and suppliers becomes much simpler and tasks can be completed at a higher level. Features like dispute resolution and supplier inquiry allow for more open and direct communication, without excessive phone calls. Instead, any information the suppliers need is available to them on the portal.
Dispute resolution allows both suppliers and buyers or approvers to create an issue if something is wrong with an invoice, like if an approver feels a supplier charged too much. Whoever creates the issue can address it to the person who would be responsible for correcting it. If the problem is big enough, the invoice can be placed in dispute, which causes a temporary hold. Additionally, whatever messages are exchanged are attached to the invoice for future reference should the problem come into question again.
Status inquiry is a feature that serves to answer the most common questions suppliers have, like where an invoice is at in its process or where their payment is. Rather than needing to call the approver or buyer, a supplier can simply log onto their portal and see where each invoice is, whether it’s been approved for payment, and when it was paid. This also allows suppliers to do invoice reconciliation on their own and helps you better manage potential early-pay discounts with your suppliers.
What does it cost my suppliers?
Do I need to install anything on my computer?
Can suppliers see the changes I make to their invoices?
Can suppliers tell if their invoice is on my work list?