Overcoming the challenge of supplier portal adoption

  • 06 Oct 2015
  • Research
Overcoming the challenge of supplier portal adoption Image

Daniel Ball, Product & Innovation at Medius discusses how to best manage the process of supplier portal engagement in an exclusive blog for Spend Matters.

Adopting processes such as Medius Accounts Payable Automation can offer quick and efficient transactions for suppliers and buyers, however organizations are still facing challenges with suppliers adopting the technology and engaging electronically through a supplier portal.

It may seem simple enough to mandate trade through a supplier portal and expect suppliers to easily adopt these new practices but experience of working with clients around the globe has shown that a number of key steps need to be taken in order to achieve the successful adoption of a supplier portal.

"A supplier portal that is used effectively by both suppliers and buyers will deliver benefits to both sides of the fence."
Daniel Ball, Product & Innovation, Medius
Speaking with Spend Matters, Daniel highlights the 5 key steps to consider in supplier portal engagement:

  1. Segment the supply base.
  2. Early and regular communication with suppliers.
  3. Be firm, but fair.
  4. Be prepared to handle objections and deal with queries.
  5. Make sure the selected supplier portal is easy to use.

Read the full blog here 

The Financial Professional Census

For every organization, big or small, the finance teams serve some of the most critical functions — enabling these businesses to quickly improve control, reduce risk, drive efficiency, and reduce costs. This huge responsibility inevitably comes with risks and struggles which can be amplified in uncertain economic times.

Download the report to learn more

More finance and procurement resources

Our library of case studies, guides and much more are here to help you become a better spend management professional

View all our resources

Articles that may interest you

Medius Announces its Partner of the Year Award 2022 Winners Image
How to Streamline Supplier Payments Image
Top Accounts Payable KPIs for Health Systems Image

Articles that may interest you

Click book a demo to talk to our advisors who will ask you some basic questions to understand your challenges.