Vendor Portals are the front face of the organizations while dealing with your alliances. Organizations can offer high-quality products with affordable prices by maintaining strong relationship with their vendors.
Why Vendor Portal ?
Offering your vendors an engaging platform ensure their alignment with the company. Ease of doing business reinforces your brand for your vendors to be loyal with. Vendor portal offers an umbrella to execute several vendor-related activities.
The extensive engagement on a day-to-day basis with both of your teams establish a strong relation and if it’s backed up by best practices, help you develop a seamless engagement. A well strategized vendor strategy would help the entire eco-system to operate smooth.
Benefits of Vendor Portal
- Engage and align all your vendors with your business
- Smooth interaction and communication trails
- A concrete system to collaborate with huge number of vendors
- Real-time integration with other applications – Emails, Skype, ERP, etc.
- Eliminate person-dependent processes
- Automated Notifications
- Central place to deal with vendor ecosystem
- Hassle-free supplier management with visibility of supplier performance
How to Implement
Vendor Portals can contribute at a greater extent to the organization’s bottom line. They engage multiple teams who could contribute to the vendor management process. Implementing them keeping the objective of its investment is crucial. All participants must be aligned to the objective and trained accordingly.