Vendor Portal ''Relationships Handled With Trust''
Business Organizations & Industries are a cumulative Group of Suppliers, Customers, and Employees, Network, Vendors, Stakeholders & such troop of people. Any organization is incomplete without any one of the pillars. The vendors & suppliers are the most important part of the Business, as they add value towards the development of the work progress & bring expected results. One of our main goals here at Amdhan is we want our clients to be able to manage their vendors directly within their Sharepoint internet. Therefore we reconstructed our vendor management system. The system is built directly into operations department under vendor management. Amdhan helps its customers in deploying a branded & customized vendor portal. Manage your vendor relationships through a branded vendor portal hosted on your own URL. Manage access to information & delegate data inputs to your supplier management portal base using unlimited public forms. Automate supplier on boarding & vendor compliance. Enhance your supplier’s experience & your master data quality. Visualize all supplier process- configure & trigger our industry unique kanban workflow engine to visualize supplier on boarding, supplier invitation, documentation updates & performance reviews. Integration: extensive integration support of the vendor registration portal forever 220 third party solutions including all major ERP & finance platforms to sync all supplier master data. Make your auditors happy and run from the comprehensive reporting suite including CFPB compliance. Build & share custom reports & schedule reports via email to make sure you are always in the know.
Vendor portal features & benefits:
- Enhance vendor performance.
- Track & share performance data to enhance vendor value. Use our service provided messaging platform to collaborate with your vendor in central, searchable archive.
- Drive optimum value.
- View your vendors by category to easily identify consolidation opportunities. Reduce your vendor tail & build deeper more valuable relationships delivering significant hard and soft savings.
Manage Vendor score card:
- Configure conditional workflows & related approvals between internal departments.
- Control vendor data updates: secure public forms allow vendor submissions to safely update key records on approval. Enhance invoice management & supplier relationship with vendor self service.
Supplier Registration Portal processes includes:
A vendor management system keeps all Purchase Quotations/Orders rising within the ERP with no external tools required for the merchant to use while allowing the supplier to conveniently access and manage quotations. Finally, let’s see how companies benefit from an ERP integrated supplier portal system.
- Companies automatically issues Purchase Orders (POs) and Purchase Order Quotations to Suppliers once raised.
- Provides easy access to the PO for the Supplier once received.
- IT gives permission to the Supplier to confirm the PO, conveniently add delivery dates and related invoices.
- Automatically updates the ERP with the expected price and confirmation of possible delivery dates once entered to the purchase order quotation by the Supplier.
- Automatically updates the ERP with expected Delivery Dates once entered to the PO by the Supplier.
- Automatically update the Supplier and internal staff of a change in the Purchase Order (i.e. : once a delivery date has been entered).
- Keeps a transparent log of each event associated with the PO.
Benefits of a Supplier Portal system
Initially, it’s worth noting that a vendor portal can offer many benefits. However, that would more or less depend on the functionality of each portal. That’s why we’re going to list here some of the main benefits that are the minimum requirement a portal should offer.
Reduce Manual Admin Tasks
The main purpose of a portal is to not only reduce time-consuming manual tasks but to provide copies of documents, invoices, statements, reminders, and data updates etc. The supplier portal automates many aspects of supplier management, drastically reducing your administrators’ workload and saving you lots of time and effort.
Supplier Account Management
A Portal will allow suppliers to sign in to their own online account and make enquiries that would normally need to have been made via phone or email. For example, they should be able to log in and view their account information, a history of open and closed quotations, purchase orders, invoices, delivery dates plus information that helps them to self serve. They will have a single access point within the supplier portal to update their account information, and on the other end, the merchant should be able to view those updates directly in the ERP.
Automated Notifications & Reminders
Notifications and reminders should be issued to suppliers at different stages of the process. These are normally sent by email to notify/remind suppliers about actions that need to be taken throughout the procurement process. This way, there’s no need for you or your suppliers to notify and remind each other to proceed with next actions every time there’s a delay. The portal should automatically do this for you so neither has to keep on following up until the process is complete.
Real-time ERP Data Integration
Portals provide both vendor and merchant with a single, shared view of data that is directly integrated with the ERP. Real-time integration with the ERP system is a key here for accuracy, speed, and the elimination of errors allowing you to manage your data in just one system, your ERP. Any changes made by you or the supplier should automatically be reflected in the other system. This saves both of you unnecessarily updating 2 systems all of the time which adds clarity and transparency to the process.
For traceability, a vendor portal allows you to track events on raised POs which add an extra layer of tracking to check the suppliers’ progress in fulfilling the PO. An admin is able to select from a list of POs and view audit events over time for a given PO. Each event tracks the action that was taken, the time and the IP address of the user carrying out the event. This way, you know who and what action has been taken during every step of the procurement process. So, in the event of a misunderstanding or a mistake, you will be able to view an audit or change history if needed, and you can rectify it before it escalates. For anyone in the procurement business managing a supplier database manually can be a time-consuming process. Entering data, following up with suppliers, updating actions, and other such tasks can be frustrating and can lead to unnecessary risks, errors, and oversights. On the other hand, with the help of a supplier portal, the whole procurement process can be painless, a lot more streamlined and automated and will provide up-to-date, accurate information in a matter of seconds, all at your fingertips. Supplier portal software is a system that helps streamline your business’ procurement process and provides you with the opportunity to communicate with your suppliers in a safe, secure, and efficient online environment. .
Vendor management portal:
Vendor management is core competence in any successful organization. Here in the ultra competitive global marketplace, businesses look at creative ways to extract more value from suppliers simultaneously reduce risk and upholds the quality. Having a vendor performance management portal is effective method for developing & monitoring 3rd party providers of goods and services, in order to derive as much value as possible from contracts, get most from renewals & build mutually beneficial goals for ling term relationship. Vendor management portal covers various aspects like spending visibility wherein analyzing and understanding the 3rd party spend is made possible. Vendor segmentation here is related with classifying your vendors, enabling segmented approach. Continuous improvement in collaboration and enhanced vendor communication, devising appropriate KPIs to measure performance. Develop a clear risk strategy & mitigation plan. Thus, Amdhan’s approach towards Vendor Relationship management is always looked at in terms of maturity. Our focus for Vendor Management portal is characterized by keeping central record on Vendor Relationship management portal solutions to store all data. Defining contract lifecycle management system is highly observed by Amdhan team. We emphasize on managing supplier relationships. Awareness about the management of risks & information about the key suppliers & overview of where the spending of most money is done. Open approach & adoption of innovation focused on clear, honest communication & positive relationship with vendors
Vendor self service portal:
With advent and continuous improvement in the technology related activities at work place, overloading of tasks and management of time & data has become very critical. At such times with a self service portal your vendors can register, become authenticated, answer their own questions, submit invoices, and check invoice status within system. By the application & implementation of self service portal the business organization are benefitted as self service portal. Authenticate vendors through a secure portal using multiple factors like TaxID (TIN), USPS address verification, OFAC sanction list & other government database. Self service portal gives permission to vendors to submit invoices electronically. No more manual collection, keying in invoices, playing phone tag with suppliers regarding inquiries. Self service portal centralizes your records, saves time & keeps all of the vendor information well organized & managed. The master records are always up to date & instantly available.