A supplier portal similar to a vendor portal refers to an online e-Procurement platform that enables enterprises to interact with vendors, qualify them, and do business with them. Supplier portals are integral they are in the entire vendor management process.
Supplier portals are typically presented as software-as-a-service solutions, making them incredibly appealing to procurement teams as there is no additional hardware investment. Characteristics that make supplier portals popular include their safe and secure nature as well as their intuitive interfaces which make them easy to use.
Finding suppliers and vetting them can be a laborious, time-consuming endeavor with a lot of manual back and forth between procurement teams and vendors.
A supplier portal system steps in to automate this entire process by eliminating disparate communication channels and syncing information and communication onto a centralized platform.
Without a supplier portal there is reduced data visibility and inaccurate information being passed back and forth. Information might not always appear congruent meaning each side is looking at a different set of data.
With a supplier portal, however, this is eliminated as both parties are looking at the very same data, and any changes made are immediately seen by the other side.
There is a immense need for safe and secure communication mediums for businesses and supplier portals provide suppliers and sourcing teams with just the right solution.
Handling of a purchase requisition and purchase order need not frustrate you any longer thanks to supplier portals. Vendors will be able to verify information – invoices, POs, quotations, and various other financial metrics without the need to call or email the buyer.
A supplier portal software reduces manual tasks, procurement teams no longer need to keep track of each and every single contract in order to issue reminders to vendors. With the automated nature of supplier portals, notifications and reminders are sent on a predetermined date without any input from the sourcing team.
Part of good supplier management is taking time to evaluate the supplier to see whether they are fulfilling their promises and delivering according to the contracted schedule. Having access to a platform where one can quickly log in and track the series of events including POs, goods delivery, and invoice issuance definitely makes light work for all involved.
Zortal is an innovative software solution for global businesses and organizations, providing an efficient supplier portal to automate numerous organizational processes including procurement, inventory, warehousing, and sales.