One of the biggest challenges suppliers face in managing their cash flow is knowing when they will get paid. Did my customer receive my invoice? Has my invoice been approved? Are there any adjustments to the amount invoiced? When will my invoice be paid?
These are questions each of your suppliers are asking. To get answers, they are calling your Accounts Payable (AP) department, which is very disruptive to your staff. They need to stop what they are doing, answer the questions they can or research the answers they cannot answer. This is a very time consuming task. Research shows that supplier inquiry calls can account for 15% or more of your AP staff’s time.
Is there a way to get your suppliers the information they need without taking your AP staff away from invoice processing?
Yes – TradeRocket’s Supplier portal is your solution.
Through its portal, TradeRocket provides full visibility of the invoice process to your suppliers. They can go to TradeRocket and see if their invoices have been received, are in process or are approved and scheduled for payment. Your suppliers can see if there are any adjustments and when they can expect to get paid. Also, once you approve and schedule an invoice for payment, TradeRocket notifies your suppliers. If your suppliers have any questions, they can send a communication directly to your AP department through the TradeRocket portal.
TradeRocket can help your AP department become more efficient and can provide suppliers with visibility into the status of their invoices. With TradeRocket, there is no reason for your suppliers to be in the dark or to call your AP department.
For more information, please visit the TradeRocket website at www.traderocket.net.