Introduction Buying goods and services seems easy. But onboarding and registering vendors is not so easy for most organizations, especially those that try to manually complete the process. The drives for increased efficiencies, information security concerns, fraud and ever-increasing penalties are raising the stakes for organizations to get onboarding “right.” Collecting documents and data from … 2020 Challenges of Vendor Onboarding & Registration Survey
We’re going to take a break from our usual focus on vendor inquiry self-service, vendor onboarding, compliance and vendor relations. Instead, here are a few fun facts for the busiest shopping (and shipping) season of the year. (Have you finished your holiday shopping?) Can you name the top ten retailers? Here they are, according to … Fun Facts for the Shopping Season
It may be the season of giving, but we’re guessing a “gift” to the U.S. Department of Treasury is not on your list. Whatever the season, though, beware. OFAC happens! Most recently it has happened to Apple. On November 25th, the technology giant entered an agreement with the Treasury Department to pay a civil penalty … Giving Gifts to the Treasury Department?
November is the gratitude month in the U.S. A little over a week into it comes Veterans Day, when we remember and thank those who have served or are serving in the military for their service and sacrifice on our behalf. Then towards the end, of course, comes Thanksgiving, when we take time off to … Vendor Relations Tip: Say Thanks
The latest vendor service survey by InvoiceInfo asks: Can an online vendor self-service portal provide the same or better vendor service answering invoice inquiries as manually responding to calls, emails and faxes? For some, this question requires conjecture. If you do not have experience with a vendor portal, then you must speculate. Others — 12 … Can a Vendor Self-Service Portal Serve?
The General Electric Company, e.l.f. Cosmetics, Expedia, Atradius Trade Credit Insurance and Stanley Black and Decker are in a special club. All of these organizations have paid civil penalties in 2019 for sanctions violations. Individual settlements ranged from $325,000 to $2.7 million are all part of $1.28 billion in civil penalties levied by OFAC so … Want to Join a Special Club?
Dealing with vendors can be difficult. An unhappy vendor’s call can ruin your day. Complaints from purchasing just make it worse! If those people had any idea of the volume you’re dealing with! And their calls just interrupt your efforts to find the invoices and get them paid. Half the time you never got the … The Problem with Vendors
Passwords. Can’t live without them. Now that we have moved our personal and professional lives online, passwords are an essential part of life. And the line between personal and professional applications is often blurred (think Dropbox, Google, Evernote …). The problem is there are so many passwords! There’s way more to IT and cyber security … The Nuisance of Passwords
You know what a vendor self-service portal is. But are you aware of all that a vendor portal can do? The forthcoming 2019 Financial Operations Networks survey on Accounts Payable Customer Service asked that question among many others. The result of that particular question revealed that while the most common functions of — and good … You Know What a Vendor Portal Can Do, Right?
For more than a decade-and-a-half, the business press has touted automation for accounts payable. It’s been going on so long that many AP managers quietly assume theirs is the only AP department on earth that is still shuffling paper. The truth? It ain’t necessarily so. Now tipping points may have been reached for some kinds … Behind the Curve on P2P Automation? Here’s a Secret!
As every consultant can (and probably will) tell you, process metrics are “invaluable for monitoring, evaluating and improving operational performance (blah blah blah).” Yet most companies carry on without them. What? You thought you were the only one? Well rest assured you’re not. It is common enough to believe your organization is behind everyone else … What? Me Measure?
Imagine going to a store 100 years ago: you approach a counter and hand over your shopping list to a clerk. Then you wait as the clerk goes about gathering the items on your list from the shelves behind, placing them in a box (while a line of customers gathers behind you, waiting their turn). … Self-Service: Trending Since 1883