From a compliance perspective, new vendors are a leaky bucket and can slip in without the proper “credentials”. The approval and set up process is time consuming and involves multiple departments, including Buyers/Category Managers, Accounting, Food Safety, and Legal to ensure they are “compliant” with your company’s requirements. Suppliers can sometimes get stalled or lost in this process, increasing risk and delaying revenue, or worse, Buyers waste time scrutinizing vendors that will not pass the compliance requirements you have in place.
Automating your new vendor set up could save hours of time for all involved, reduce your risk, and help expedite shipments to meet deadlines.
- Save you time and money by automating your new vendor paperwork. Just invite new vendor prospects to login to access all of YOUR vendor agreements and forms and share required documentation.
- Automate review for completion, accuracy and compliance. ReposiTrak will confirm and alert both you and the vendor when all documents are complete, or if documents are missing or inaccurate.
- Approve! Just assign an AP Vendor # and ReposiTrak will alert the vendor of their approved status. Their documents can now be managed in ReposiTrak for compliance moving forward.