What are the advantages of supplier portals?

•You can accept e-Invoices and various electronic files, in multiple formats (even Web forms). This streamlines vendor relation activities, and reduces supplier calls, as it promotes vendor self service.  All this leads to reduced costs and a more efficient transaction processing operation.

• Your suppliers/vendors can make web-based inquiries as to the status of invoice payment, invoices submitted, disputes, etc, regardless of how the invoices were submitted (portal, mail, EDI, etc).  And these inquiries can be made any day, at any time, from anywhere without having to contact your staff.

• In addition to the above, a portal allows your vendors to access a "real-time" snapshot of all their invoice and payment related activities, and enables vendors to track invoices through the entire approval and payment cycle.

• Real time collaboration means disputes and discrepancies are resolved quickly.

• A simplified Onboarding process means vendor recruitment simple and supplier participation is great.

However, the single greatest benefit of an ICG Vendor / Supplier Portal is the ability to save millions of dollars annually through Dynamic Discounting programs. 

Dynamic Discounting is definitely a hot topic amongst CFO’s, Treasurers, and Corporate Controllers. And with good reason – literally, millions of dollars can be at stake.

It’s simple to take advantage of Dynamic Discounting when you have a few invoices, but what happens when you have several hundred thousand? Or several million? That’s when an efficient back-end approval process can make a tremendous difference. Which is exactly where ICG Consulting shines.  We can assist you with your back-end payables processes to further streamline your operation and achieve additional substantial savings.

Our Vendor / Supplier Payables Portals are completely configurable and modular allowing us to implement a Dynamic Discounting program when you are ready so you can  take full advantage of the tremendous economic benefit these programs offer. The results are obvious – this is literally found money. Found money that can reach into the millions of dollars (quite the nice find indeed)!

Does My Company Need a Supplier Portal?

A Portal only reaps you benefits when vendors and suppliers actually use it.  ICG Consulting ensures enthusiastic vendor/supplier participation by making the onboarding process an effortless affair.

Unlike many competitors, an ICG portal does not establish (or rely on) a closed buying community or the like. This means vendor system/file integration (or any IT involvement for that matter) is simply not necessary at best, and requires little involvement at worst. Your suppliers and vendors need only to fill out a simple online registration form to participate. And the Portal itself is very user-friendly – little to no training is required. This makes it very simple for your vendors and suppliers to come onboard.

Our approach makes recruitment and Onboarding more of a simple notification process than a selling / training process. The following quote, received three weeks after Portal launch from one of ICG’s clients, illustrates that:

“One hundred and twenty-two vendors have submitted a total of 1,052 cases via the supplier portal so far this first week. Out of the 122 vendors, 84 of them were non-pilot vendors. This is going to be a record breaking week of cases opened on the portal.”

An ICG Supplier Portal Can Save You Money!

ICG Consulting understands the nuances of larger businesses, multiple locations, thousands of suppliers, and millions of invoices – that’s why we are able to produce results. Results that can be easily measured on your balance sheet, and are also clearly reflected in your bottom line.

Open a new Profit Center by Contacting ICG Consulting today.