Want a more efficient, productive A/P staff? Then eliminate incoming calls from overzealous vendors wondering if their invoice was received or a payment is on its way.
A vendor portal can free your A/P staffers from the constant flow of calls that interrupt their work.
Vendor portals, known also as Interactive Web Response (IWR), are the Internet equivalent of Interactive Voice Response (IVR).
Most of the providers that offer automated invoice technology can also outfit your company with a vendor portal to give vendors info about purchase orders and payment status — so A/P doesn’t have to.
The majority of companies see a drastic drop in incoming call volume after being equipped with a vendor portal.
Another plus: Portals help to foster “discounting” with vendors. For example, vendors can look at invoices that are waiting to be paid and grant discounts for the ones that are paid early.
