For finance and procurement teams, engaging effectively with suppliers can be difficult, from keeping supplier information up to date, handling a high quantity of PO and invoice transactions each month and answering queries about payment status. Often, the relatively simple tasks of requesting quotes, accepting proposals and negotiating agreements are carried out through email, phone and post, which can be extremely slow and cumbersome.
In the current economic climate, which is filled with uncertainty and concern since the Brexit vote, organisations cannot afford to have such highly fragmented and inefficient spend control processes. There needs to be a move away from manual processes to improve efficiencies, reduce costs and keep up with the accelerating pace of business.
Finance and procurement teams require a faster, easier and more cost-effective way to interact with their suppliers. They could benefit from leveraging a secure network that can receive, manage, and share information across the buyer-supplier business relationship at every point of engagement. An example is the PROACTIS Supplier Network. The network combines the capabilities of a transaction hub, buyer and supplier portals and ecommerce connections into a single entity that connects buyers and suppliers in ways that remove time, cost and risk for both parties every day. It replaces slow, expensive and inconsistent manual communication methods with fast, low-cost, electronic methods that help buyers reduce the cost of their purchasing and payment processes, while at the same time helping suppliers of all types and sizes reduce the cost of servicing their customers.
For further information, call us on +44 203 866 8800 or download the, 'Supplier Network: A Guide to Getting Started with Electronic Commerce' whitepaper: