While managing a supplier database, we might need to go through an unending routine of verification follow-ups, annoying inaccuracies, and tedious data entry which can result in unwanted mistakes and risks. Otherwise, it could also be a simplified, automatic, and streamlined procedure providing accurate and updated information that can make your supply chain quite strong. It is a customized supplier portal which can prove to be the main difference between these two types of experiences. Here, we will take a look at the benefits of having a supplier portal at present.
1. Comprehensive supplier enablement
Supplier Portal Solutions in Malta allows an innovative tier of suppliers for automating supply chain execution transactions like commercial invoices, ship notices, and purchase orders. EDI (electronic data interchange) had gained a significant mass of use among the bigger companies. Nevertheless, smaller companies often had a hard time finding the budget, resources, as well as in-house expertise for implementing EDI. The white space was filled by the portals in the market quite fast. It was possible for anybody with a stable Internet connection and a personal computer to connect to a portal without a lot of investment and training. Consequently, it minimized the obstacle to making an entry into e-commerce allowing numerous small suppliers to communicate with their clients electronically.
2. Real-time integration of ERP data
It is imperative for the Supplier Portal Solutions in Libya to offer a single and shared view of data to the merchant and vendor that is integrated with the ERP directly. Before the existence of supplier portals, the supplier and the purchaser viewed information in their personal business applications that were mostly out of sync.
Real-time EFP system integration will be responsible for the elimination of mistakes as well as speed and accuracy, thus enabling you to manage data in simply one system, the ERP. The other system will automatically reflect the modifications made by the supplier or even by you. In this way, there is no need for you to update the 2 systems at all times and this can help to add transparency and clarity to the entire procedure.
3. Minimize manual admin jobs
A portal is not only meant for minimizing manual tasks that are quite time-consuming, but it also provides copies of invoices, documents, reminders, statements, data updates, and so forth. Many aspects of supplier management are automated with the supplier portal, and this helps to minimize the workload of your administrators to a great extent. In this way, it is possible to save plenty of time and effort in the long run.
4. Automated reminders and notifications
It will be imperative to issue reminders and notifications to the suppliers at various phases of the process. On most occasions, these are dispatched by email for notifying or reminding suppliers regarding actions that they ought to take during the process of procurement.
Thus, you or your suppliers do not need to notify and remind one another for proceeding with the subsequent actions whenever there is any delay. There is no need to follow up until the process becomes complete since this will be done automatically by the portal on your behalf.