Onboarding Suppliers

It is not uncommon for it to take a month to onboard a new supplier and can take up to six months at many large organizations. Whether 30 days or six months, the pain and delay stem from manual processes that buying organizations use to vet supplier data and documentation such as ISO certifications, bank account information, tax documents, and certificates of insurance.*
  • Long cycle times around company information verification​
  • Lack of standardization across industries leads to repetitive and unnecessary tasks​
  • Absence of a central vendor master complicates integration with various company systems like ERP, contract management, and procure-to-pay systems​