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Starting a new relationship with vendors can be complicated without a streamlined process. It is important to have a clear system in place to keep everyone on the same page and organized when going forward with the partnership. We recommend creating standardized forms for your vendors, using a vendor portal to record all information between the two parties, and having a point of contact on staff for vendors to contact in case issues arise.
An easy way to keep things organized across the board with suppliers and vendors is to create standardized forms and contracts. Keep fillable paperwork or digital files of onboarding paperwork such as service contracts, work orders, etc. that every vendor must fill out before partnering with you. For example, making sure there are clear steps in place that the vendor must take to become approved to work with your business. It’s important to take into consideration the differences between each vendor you bring on and adapt your onboarding plan to adapt to them.
Setting up a vendor portal will allow you to keep all of the important documents, invoices, and receipts together in one place for all your suppliers. Your portal should allow vendors to login with credentials and upload any necessary documentation. At Dynamics eShop, our Vendor Portal connects directly with Microsoft Dynamics 365 Business Central and Finance & Operations. You are able to see all documents, profile information, etc. for each of your vendors right on your ERP.
Creating standardized forms and having a vendor portal make things easier for your business, but it can lead to confusion for vendors if not outlined properly. For this reason, assign vendors to a specific staff member that is to be their point of contact for set up, invoices, and more. If there is a question on their end, this point of contact should be reachable by email and phone. Having one person handle these details and questions helps vendors to feel that their side of the relationship is respected, and allows them to get their job done efficiently by avoiding miscommunication.
If your eCommerce business is looking for a smooth process to onboard new vendors, our Supplier/Vendor portal offers just that! Learn more about how we can help.