Significantly increase supplier engagement and bring down costs with the Source To Pay Platform.
Significantly increase supplier engagement and bring down costs with the Source To Pay Platform.
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.
With the Velocious Source To Pay Platform, enterprises could automate the engagement with their suppliers across the lifecycle, right from RFP/RFI issuance, to supplier registration, issuance of PO, receiving of electronic invoices, processing of invoices and intimation of payments. The solution combines the unique features of AI Chatbot, OCR and integrations with the Accounts Payable / ERP solution to deliver a differentiated experience.
The Velocious Source To Pay Platform is a one of its kind solution, with rich features including:
Currently, the supplier raise their queries on calls and emails. By providing the access to the invoice information we reduce the time to get the queries answered Frequently asked queries can be handled by bot and transferred to live agent when needed.
The supplier can quickly find answer to their own queries using various reports in the portals. A portal is available 24 X 7 and provides a better way to track their information.
The supplier and buyer can agree on discounts for the early payment and supplier can at any time view open invoices and request for early payment resulting in a win — win situation.
The supplier fills the onboarding form to make sure all the information provided is correct. Also eliminate paper based forms and supporting documents as the portal allows supplier to upload all supporting document during onboarding.
The AP Automation usually starts once the buyer receives the invoices from supplier. By providing first level of validation at invoice upload, supplier can make sure the invoice data is correct thereby reducing delays.
The supplier can check the status of the invoice at any time which provides visibility and transparency to the entire process.