Our Supplier Onboarding Service
There are five steps we complete to ensure a seamless introduction to your Approved Payables Programme:
- Step 1 – Supplier analysis: quantify working capital benefit for the buyer and its suppliers and determine optimal supplier segmentation.
- Step 2 – Procurement training: increase scope of training to include the procurement team and provide documentation and ongoing support.
- Step 3 – Programme setup: the funder will decide on the due diligence requirements. Funders are also responsible for reviewing and accepting the documents provided by the supplier during the onboarding process.
- Step 4 – Approach suppliers: we will put together an onboarding strategy and implement the use of calls and emails including financial calculator and benefits. Our dedicated Onboarding Team will support suppliers through the onboarding journey to ensure they are comfortable with what is required of them.
- Step 5 – Supplier go-live: we help with the completion of due diligence requirements directly onto the platform. Suppliers can move seamlessly from the onboarding journey to selling invoices on the platform.
What are the benefits of supplier onboarding?
- Maximise supplier uptake: getting suppliers on board is key to achieving working capital objectives.
- Lower cost of funds: we help you receive competitive, market-leading rates, which are usually lower than the supplier’s current financing cost.
- Procurement alignment: we provide training to your procurement team, aligning all teams to the same financial objectives.
- Seamless onboarding: we make sure suppliers can onboard, view and trade invoices within one platform.
- Dedicated onboarding team: our team work with you to:
- Analyse: complete a detailed analysis for your supply chain.
- Plan: define and agree the onboarding strategy.
- Onboard: contact suppliers and guide them through the onboarding journey.
- Collaborate: engage in structured calls with the treasury and procurement teams to review programme successes, lessons learnt and next steps throughout the life of the payables programme.