isupplier portal- manage supplier/vendor challenges
TRANSCRIPT
Supplier/Vendor Management Challenges
iSupplier Portal – Closed loop supplier management1
How can we address critical issues managing your suppliers
iSupplier Portal= Supplier Communication+ Automate Supply chain + Remove pain areas
Pain areas in Supplier/Vendor management
2
Processing Purchase orders manually to suppliers/vendors or from ERP
Key critical areas in procurement process
Tracking goods/services delivery in appropriate time
Processing invoices from suppliers/vendors
Tracking supplier queries- for invoice processing, payments processing, remittances advice
Managing supplier information up to date
Manage paper based purchase orders/invoices every year- Purchase manager
Key issues people faces while managing procurement process
Tracking invoice processed/payment status for suppliers– Accounts receivables
Validating supplier data multiple times in a year to keep up to date – Supplier manager
Handle supplier queries regarding invoice & payables- Support
Frequent communication to track deliveries in proper time- Procurement manager
Manage storage space (hard drives, equipments) to record paper based supplier documents- Administrator
iSupplier Portal – Closed loop supplier management
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TCO shoots up every year– Why?
This might look like a sales pitch but in reality, 15% to greater than 20% of a companies' operating revenue is spent on establish proper supplier communication
Payment reconciliation- Issue tracking supplier
payments
Communication- Supplier/vendor communication
issue for invoices & payables
Order Delivery- No firm process in sharing delivery
information by suppliers in REAL-TIME
Manual process: Manually manage purchase
orders/supplier invoices/supplier information
iSupplier Portal – Closed loop supplier management
Did you know ??1. Average time company spend to process PO to suppliers/vendors manually is
10 minutes
2. Company spend around £20K per year just to process purchase orders
3. Average cost a company spent to handle supplier/vendor queries to track
invoices and payables is more than £15K
4. Company spend around £10K per year to process supplier payment
remittance advices
5. Many organizations spend a considerable amount of resource cost to update
supplier/vendor master information (£3K )
6. Companies spend around £15K every year to track goods/service deliveries
due to lack of sharing delivery information by suppliers/vendors
7. Perhaps the most important cost by company is to manage storage space by
a hefty amount of £9K per year
8. Managing supplier data impacts a company operation 20% of the time
9. Lack of information triggers operation cost by a staggering 45% annually
10. On top of the above stats, lack of accessing information on the move by
higher authorities cost 20% on the operation cost
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£0 £5,000 £10,000 £15,000 £20,000 £25,000
PO
vendor queries
Remittance advice
Supplier information
Track deliveries
Storage space
iSupplier Portal – Closed loop supplier management
iSupplier Portal- Supplier-Company Co-ordination
15%
15%
20%20%
20%
10%
iSupplier Portal- Cost savings areas
Purchase orders
Supplier invoices
Supplier queries
Supplier information
Tracking Delivery
Payment reconciliation
Graph shows the share of reasons how iSupplier Portal can help to manage
Supplier/vendor management
Effective collaborative tool between companies and suppliers
Purchase orders• Process purchase orders to suppliers electronically in iSupplier Portal
• Integrate with existing ERP application to fetch PO directly
Supplier Invoices• Electronically process supplier invoices for purchase orders iSupplier Portal
• Post invoices to ERP automatically from the application
Supplier/Vendor queries• 24*7 real-time information availability
• Complete information sharing for supplier invoice & payments status in iSupplier
portal
Supplier/vendor master information• Supplier self-service to update their information directly from iSupplier Portal
• Removes manual errors or engagement of company resources to update information
Goods/Services delivery• Real-time information sharing on shipment status from suppliers
• Post all delivery information to ERP from iSupplier Portal
Payment reconciliation• Track all payables with invoices& PO electronically from iSupplier Portal
• Automatically post all transactions to ERP from the application
iSupplier Portal – Closed loop supplier management
iSupplier Portal- Modules
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iSupplier Portal
Handling supplier queries
Dashboard & Reports
Electronic document
filing
Supplier/ Vendor master
Invoice processing• Supplier can create an invoice directly
from iSupplier portal• Electronically manage supplier invoices
within the application
Dashboard & Reports• Graphical representation of purchase
process within the company• Quick information about supply chain
process
Electronic document filing• Feasibility to store invoices/purchase
orders/remittance advices electronically
• Removes paper based documents
Supplier/ Vendor master• Supplier self-service portal to directly
access and update their details• 100% accurate information for supplier
compliance
Supplier queries• Company can handle and response to
multiple supplier enquiries in real-time• Suppliers can access information 24*7 for
their invoice/payments status
Goods/ Services delivery• Suppliers can share delivery information• Organization can track deliveries in real-
time
Goods/ Services delivery
Invoice processing
ERP Integration
Purchase orders• PO are electronically processed in the application• Purchase orders are directly pulled from ERP
(Sage/Oracle) applicable to the logged in user
ERP Integration (Sage/Oracle)• Integrates with ERP to pull critical
information directly (PO, Suppliers• Automatically post all transactions to
ERP
Purchase order processing
iSupplier Portal – Closed loop supplier management
iSupplier Portal- Benefits
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iSupplier Portal Implementation
Supplier can share information Reduce manual errors Electronic filing
Information access
Supplier self-service portal to minimize any miscommunication
Effective reporting tool for complete Supplier/vendor management
24*7 Real-time information- Speeds up all process of supply chain
Helps in reducing delivery lead times & inventory level
Transparent information flow
Operational efficiency Track goods/service deliveries
Reduce storage cost (hard drives, equipments) for paper documents by moving electronically
Allows companies & vendors to share information using effective technology
More time for sales/purchase department to focus on strategic issues
iSupplier Portal – Closed loop supplier management