Free Supplier Portal: The Best Way to Involve Suppliers
When considering an accounts payable automation solution, it is important to think about every party involved – and that includes the suppliers, or vendors. The greatest thing that your AP department can do to best serve your department and your suppliers is choose a solution with a free supplier portal.
What is so great about a supplier portal?
Utilizing a supplier portal means that your company is using a solution that is the easiest and most efficient for all parties involved. In fact, the iPayables 2021 Supplier Survey found that most suppliers are willing, and even want, to use a portal. But why?
First, invoice management solutions that include a supplier portal allow for high levels of visibility for both parties in a way that is not available through other forms of invoicing. Electronic invoicing combined with supplier portals mean that every step of the invoicing process is tracked and highly visible – both parties can view what is changed and by whom, get immediate access to issues and disputes, and resolve issues faster than could be done by paper and mail. Additionally, the supplier can download, forward, and print invoices without having to go through your AP department, further saving time in the process. An invoice management solution that includes a supplier portal is necessary if you want to be able to effectively work with suppliers and process invoices.
Second, supplier portals ensure that the relationship between you and your suppliers is stronger than ever. AP automation solutions that include a supplier portal eliminate the risk of human error and clerical mistakes, resulting in better business relationships. Additionally, your suppliers will be happier than ever that your payments are not only on time, but early. All of this is made possible through a free supplier portal.
A vendor portal allows you to assist your vendors and suppliers in a secure online setting, with invoice information available 24/7. It’s a dynamic self-service doorway that is priceless for any organization. If you’d like to learn more about iPayables’ invoice management system, InvoiceWorks, check out this page.