Are your deals with vendors smooth, timely and accurate? Are your payments going out the door quickly? Are your vendors happy and satisfied with how your company is handling invoices? Are you utilizing an AP automation or document management solution?
Your vendors would probably love to know where their payments are in the financial process – whether they’ve been approved or are still pending – and many document management/AP automation solutions offer a convenient vendor portal, like
A vendor portal allows you to alert your vendors during key stages of the expense approval process and gives them better visibility for higher satisfaction. Some of the benefits include:
- Automated emails are sent to vendors with a link to the vendor portal so they have secure access to invoices and related transaction documents.
- Visibility of the status of invoices reduces time-consuming “phone tag” and searching for documents when vendors inquire about payments and documents.
- Participation of vendors in the payment process for increased satisfaction and stronger relationships.
- More timely payments and fewer delays as a vendor portal allows you to prioritize and better manage financial processes.
Your vendors help keep your company up-and-running, so it’s important to make sure that they are kept up-to-date during the payment process. A vendor portal benefits your AP department, customer service reps, executives, as well as sellers and vendors.
So, when searching for an AP automation/document management solution, is a vendor portal a must-have? We think so!
by MetaViewer Paperless ERP for Microsoft Dynamics