Why manage supplier information?
Improve Compliance. Ensure a single source of truth across your supplier data.
- Creating and updating vendor records can get really tedious and burdensome especially when there are myriad internal and external policy compliances to check on
- Fetching necessary documents from your suppliers is often dependent upon traditional channels like e-mail and sometimes even mail!
- Searching for relevant information hidden in heaps of e-mails and files can be very time consuming
- Also, blacklisted suppliers can creep into your payables history without necessary approval checks at the time of onboarding and 3rd party validations on an ongoing basis
Invocus with its robust and flexible mechanism for supplier information management via a self-service supplier portal makes life easy for all involved – be it your suppliers, your internal stakeholders, or you in accounts payable! Our supplier management solution not only takes care of preventing papers and calls coming your way, but also ensures that you improve overall compliance, have a smooth and hassle free onboarding process for all your vendors and prevent risks associated with engaging with blacklisted suppliers. On top of all of this, Invocus’ supplier management solution will ensure you get access to the most comprehensive, accurate, and unduplicated supplier master data at any given time, all of which is integrated with your ERP source systems!
How can an e-Invoicing Software help you
Invocus helps you streamline day to day supplier transactions while providing you the single source of all your supplier information. Some of the key benefits include:
- Flexible and conditional approval workflow for supplier onboarding
- Tightened control over regulatory compliance with supplier documentation requirements, e.g. W9, insurance or diversity certificates
- Custom 3rd party validation which gives you a heads-up when a supplier is blacklisted
- Easy search for suppliers using multiple parameters and user configurable views
- Accurate, up-to-date, consistent, complete and de-duplicated supplier master data and seamless integration with the source systems
- Cost savings of up to $950 per supplier on information management
Key features of Invocus’ Supplier Information Management solution
Faster & more efficient
Accurate & complete
Supplier Risk Management
Automated & preventive
Benefits of our Supplier Information Management solution
- Supplier portal for self-registration of supplier
- Pre-qualification, de-duplication and regulatory compliance check
- Automated approval workflows to obtain timely stakeholder and supplier input
- Document tracking and audit trail management
- Single source of supplier information with powerful supplier search
- Integration with ERPs and parent-child linkage
SUPPLIER RISK MANAGEMENT
- Supplier data enrichment
- Automated alerts and risk scoring
- Supplier trend analysis for preventive risk management