Daniel Ball, Director at Wax Digital discusses how to best manage the process of supplier portal engagement in an exclusive blog for Spend Matters.
Adopting processes such as eInvoicing can offer quick and efficient transactions for suppliers and buyers, however organisations are still facing challenges with suppliers adopting the technology and engaging electronically through a supplier portal.
It may seem simple enough to mandate trade through a supplier portal and expect suppliers to easily adopt these new practices but experience of working with clients around the globe has shown that a number of key steps need to be taken in order to achieve the successful adoption of a supplier portal.
“A supplier portal that is used effectively by both suppliers and buyers will deliver benefits to both sides of the fence.”
Daniel Ball, Director, Wax Digital
Speaking with Spend Matters, Daniel highlights the 5 key steps to consider in supplier portal engagement:
- Segment the supply base.
- Early and regular communication with suppliers.
- Be firm, but fair.
- Be prepared to handle objections and deal with queries.
- Make sure the selected supplier portal is easy to use.