With self service mode , supplier has all key information available 24*7, thus enabling greater satisfaction and relationship with suppliers.
With features like early payment discounts, sourcing events, query management, etc. helps to reduce the operational costs
The supplier has full visibility at all necessary levels across the Source to Pay process.
Currently, the supplier raise their queries on calls and emails. By providing the access to the information and query management capabilities on portal , the time to get the queries answered gets reduced
The supplier fills the onboarding form which ensures that all the information updated is accurate. Also eliminate paper-based forms and supporting documents as the portal allows supplier to upload all supporting document during onboarding
Invoices uploaded by the Suppliers seamlessly flows to the invoice processing application (VIM, ReadSoft), so this ensures that invoices are processed immediately and are not stuck with user departments.
Most enterprises recognize that active and meaningful engagement with suppliers is key to success. Benefits include accelerated time to market, improved margins and reduced risks. Best in class organizations recognize that this is a highly collaborative relationship. They have supplier portals that include advanced functions including onboarding / self-registration, workflows and OCR functionalities. When information exchange takes place in a timely manner, this brings about significant improvement in supplier engagement.
Velocious source to pay enables automation of supplier related activities and provides a single source of truth for both customer and supplier including for shared service environments, and also reduces cost of procurement via Reverse Auctions and Supplier Bill discounting modules.
Our product improves supplier discovery via comprehensive supplier information management with configurable and easy to deploy workflows, brings down implementation time by 40% for Invoice Portal (from about 4 months to 2.5 months) and 20% reduction for S2P and P2P via out-of-box integrations with leading AP Invoice Automation solutions, and is also easy to adopt (intuitiveness) with minimal training requirements.Learn more about us