Apr42024
Supplier onboarding is a strategic imperative for businesses for compliance and fraud prevention

Strengthening Supplier Onboarding: A Dual Focus on Compliance and Fraud Prevention

Approval Routing, Supplier RelationshipLeave a comment

Supplier onboarding is not merely a logistical necessity; it’s a strategic imperative for compliance and fraud prevention for businesses across industries. To ensure seamless supplier integration while safeguarding against fraud, organizations are increasingly turning to approval-driven, highly vetted, fraud-resistant software functionalities with full audit trails of changes made to supplier files. In this article, we…

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Nov92020
negotiated price

4 Tips to Ensure Your Teams Using the Right Negotiated Price When They Order Supplies

Approval Routing, Business Process Automation, Supplier Relationship

Your business needs supplies, and when it comes to getting the said supplies, you must acquire the right quality, at the right time, and, most essentially, at the right price. However, when working on multiple projects or with multiple suppliers, ensuring you get your supplies at the right negotiated price can be challenging. The Difficulty…

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Oct292019
Supplier Channel

QAD User Supply Channel: 5 Ways on How Communication and Collaboration Can Improve Supplier Relationships

Approval Routing, Business Process Automation, Supplier Relationship

The Supply Channel is an organizations ‘life-blood’, and therefore the nature of Supplier Relationship is a huge determinant of the business’ chances to succeed. The output of the organization is, largely, dependent on the input, which is availed by the supplier. A business establishment ought to, therefore, put a great deal of effort in maintaining…

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Jul262019
Procurement Budget

5 Reasons You Need a Procurement Budget and Tips for Making One

Approval Routing, Business Process Automation, Purchase Management, Supplier Relationship

Procurement Budget: Budgeting, while many times painful, is among the most important aspects of an organization(1). In the past, the procurement department was not included in the budget-making process. It was not represented in organization-wide budget meetings. The role of procurement in budgeting was relegated to direct acquisition. However, currently, things are changing, and procurement…

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May142019
vendor relationships

Procurement: 5 Ways to Actively Improve Vendor Relationships with Suppliers

AP Automation, Approval Routing, Business Process Automation, Purchase Management, Supplier Relationship

As the operator or purchasing manager of a business, it is your responsibility to forge solid vendor relationships. Whether you have worked with a supplier for decades or are in the initial stages of building a relationship, there is always room for improvement in the vendor relations arena. Below are five strategies to help you…

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Apr32019
Vendor Relationships

7 Tips for Establishing Great Supplier Relationships

AP Automation, Approval Routing, Business Process Automation, Purchase Management, Supplier Relationship

Many businesses strive to maintain good relationships with customers, however unfortunately forget their supplier relationships. They neglect suppliers and do not bother to establish good relations with them. Suppliers are a fundamental part of your enterprise that you should not overlook. Developing a great supplier relationship is a crucial part of business survival and success.…

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How Technology Makes Building and Improving Supplier Relationships Simple

AP Automation, Approval Routing, Business Process Automation, Supplier Relationship

Technology has always been a part of building and improving supplier relationships with B2B partnerships; from the telephone to the fax machine, technology has helped businesses facilitate P2P processes and communications. This is still true today, yet the difference is the level of technology being used.   In particular, the rapid advances with online technology…

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How Effective Communication Improves Supplier Relationships

Approval Routing, Business Process Automation, Purchase Management, Supplier Relationship

    The value of effective communication with your suppliers cannot be reinforced enough. Just as strongly as poor communication techniques can harm your business, effective communication can give you a major advantage. Integrating effective communication techniques will help develop strong supplier relationships by promoting trust, improving risk management, and supporting long-term goals. Build Trust…

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Aug152018
Supplier Collaboration

Optimizing Supplier Relationships by Improving Collaboration

Approval Routing, Business Process Automation, Purchase Management, Supplier Relationship

The concept of improving supplier collaboration to improve those relationships isn’t a complex mystery, although achieving this common industry objective may seem to be at times. After a certain amount of collaboration fails, CPOs might finally ask: Is it as simple as upgrading AP departments and end-to-end P2P processes with automated digital solutions in the…

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Jul182018
Supplier Related Transactions

3 Benefits of Digitizing and Simplifying Supplier Related Transactions

Approval Routing, Business Process Automation, Purchase Management, Supplier Relationship

As markets connect on a world-wide level and technology continues to rapidly progress toward digital automation, businesses are constantly adapting to keep pace with the changes. In the process of this adaptation, businesses must be shrewd when choosing solutions; enterprise level organizations have the most to gain from streamlining their P2P processes, yet also the…

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