Vendor Onboarding Portal
Vendor Onboarding Software provides all the necessary tools for increasing the efficiency of your onboarding team. These inputs ensure that the work is streamlined, targeted and never off the mark.
It connects your employees with their team and their managers in the most practical way!
In addition to that, there are various other benefits of the Vendor Onboarding Portal.
Why is efficient vendor/supplier onboarding important?
A good vendor onboarding process helps your company develop a fortified relationship with the vendor. When you deliver the process professionally, vendors feel that they add value and are an integral part of your company.
This increases their motivation to work with you, and hence, their efficiency.
A smooth, hassle-free onboarding process would attract good vendors to associate with you, whereas a shaky, unstandardized process might put them off, and have them lose trust in you, right at the get-go.
How to Onboard a New Vendor / Supplier – A Step-by-Step Approach
For different kinds of Vendors, the onboarding process can be entirely different. However, there are some standard steps that are always involved. Let’s look at them.
- Understand Your Vendors
The onboarding process starts with an addition of the vendors to your database, made concrete by document upload in vendor portal. It helps ensure that not only you partner with professional entities, but also understand their motivations. It reinforces the understanding that your vendors would follow the norms and policies laid out by regulating authorities.
- Upload Documents by Vendors
The next step in the process is document verification as scan copies uploaded by vendor. The verification team will weigh the vendor information like PAN, GST, Address, Bank Details with cancel cheque, Vendor’s health and other compliance related info/ documents and approve in Vendor portal.
- Convey your Requirements and Expectations
The onboarding team will explain the entire operational procedure to the vendors. They will convey the information and the company’s expectations to them. It will ensure that the vendors work by the company’s policies and give substantial results.
Key features
- Automate your Vendor Due Diligence and Onboarding Process Flow.
- Cloud server accessibility for you and your Vendors.
- Self registration on cloud server by Vendors with OTP Security.
- Self data entry and documents upload by Vendors.
- Automated approval work flow within multiple stake holders.
- Integrated with GST portal for Auto validation.
- Stage wise tracking with turned around time ( TaT).
- Cloud accessibility for you and your Vendor.
- Audit Trails with complete history.
- Dash Board with mobile support.
- Email notifications.
- Self KYC.
- Dynamic Reports.
