Below I have outlined the most basic benefits of EDI implementation for both the hub and the supplier. Blogs From fully managed EDI solutions to supply chain consulting. March 28, by. Shandra Locken. Benefits to the Hub Business Analytics — Manual processes leads to bad data. Not only does bad data cost money to fix, but bad data can persist once it has been imported in a system, and that bad data can play havoc with analytics, just like a cancer.
Add in a few dollars per hour for office space, utilities, and equipment. It usually takes 10 to 15 minutes for a paper document to be reviewed, entered, and filed by a skilled data entry person. If your company processes over 5 documents per month, I have a solution candidate to discuss with you. Less Errors — Wherever there is human intervention, you introduce errors, both with outgoing POs and incoming invoices.
It takes 3 times as long to identify and resolve these errors. Real-time visibility into your supply chain helps you plan for unforeseen events such as out-of-stocks or shipping delays. Cash flow for our business is crucial, and the process can be complex when trying to sell an invoice for an earlier payment. Tipalti NetNow makes it easy. Dalia Kadoch. Supplier Enablement Program The fastest path to getting your suppliers on Tipalti and promoting self-service.
Improve adoption from your supply chain Network Growth Tipalti will actively engage your suppliers, including educating them on onboarding processes. Reduce bad supplier data Data from properly onboarded suppliers improves ERP hygiene.
Request a Demo Contact us today to see how Tipalti can automate your payables processes. Getting Started: Wave 1 As indicated above, begin with a discrete implementation effort focused on enabling a manageable number of suppliers i.
Increase Business Value through Ongoing Optimization Once these initial tactical levers are in place and providing a solid ongoing base of spend data, the organization turns its focus to forward-looking, holistic strategy development to achieve its overall supplier management objectives. This phase will be comprised of deeper and periodic spend and category analyses, supplier segmentation and rationalization, and will serve as critical inputs to future waves of Supplier Enablement, planned strategic sourcing events, and category management plans.
The result will be an ongoing, dynamic management of the supply base, including retiring some existing suppliers from time-to-time as well as onboarding new suppliers who bring additional value and innovation and with whom the cycle of Supplier Enablement outreach and education activities begin anew.
The challenge some organizations face is the ability to effectively sustain the focus, resources and knowledge to support the ongoing but periodic nature of Supplier Enablement activities, without which total expected value of the P2P implementation and licensing investment will fall short.
Supplier Enablement plans have to be developed and executed including development and execution of a tailored supplier communication strategy.
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