- It considerably reduces the time it takes to process documents. The digital medium enables rapid access to information.
- Access across devices and places offer greater flexibility in the workplace, ensuring that information is always available from any point of access.
- Digital trumps paper when it comes to searching for and evaluating information.
- Standardization promotes process consistency by establishing mandatory fields and standardized routines.
A supplier portal, also known as a vendor portal, is an online platform that allows businesses to communicate with and interact with their vendors. It’s a collaborative platform where both the customer and the supplier may enter data, send documents, track orders, and manage their business relationship. A supplier portal, at its most basic level, eliminates paper. To take it a step further, it’s an interface that significantly improves and combines B2B communication. When we consider all of the implications of using paper or not using paper, of integrating or not integrating, we’ll realize how many facets of doing business a supplier portal can affect. Many of the broad benefits of digitization are already well-known—for example, consider the following: