Vendor Portal: How To Simplify Procurement

A vendor or supplier portal is an online platform for businesses to communicate and collaborate with their vendors in real-time. It is a centralized hub where suppliers can access relevant information and processes. Organizations that engage with a large volume of vendors regularly can utilize this interface to streamline the procurement process. They can source, onboard, and manage vendors while maintaining quality and speed. This lowers the manual effort companies must expend on each task, improving accuracy and cultivating positive supplier relationships.