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From onboarding to payments, boost business & goodwill and make every vendor a strategic partner
Automate KYC checks, clean up your vendor master and profile vendors based on their risk. Share documents, payment updates and collaborate with vendors - all from a single dashboard.
Talk to Sales
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Safe and secure. Compliant with RBI guidelines & IndAS
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Talk to Sales
Safe and secure. Compliant with RBI guidelines & IndAS
Trusted by more than 3000 companies
The Problem Today
Process of vendor onboarding and day to day interaction are broken
Vendor KYC and contact data are almost always out of date. New GSTs and mobile numbers, struck off PANs are never updated. Further, vendors have no visibility on invoices or payments, and no way to dynamically discount invoices.
Compliance is ignored
Invoices are rarely checked for compliance issues - struck off PANs, incorrect GST, MSME,
e-invoice checks and more.
No central database
Invoices and vendor data is distributed, and often inaccessible when required for audits and future reference.
Unreliable OCR systems
Legacy OCR scanning only offers about 65% accuracy, reducing trust in the system and leaving invoices to be checked manually.
The Problem Today
AP teams spend 100s of hours booking invoices
This is not only a waste of time and productivity, but many a times the invoice booking process has compliance loopholes, uses outdated technology and there is no central storage system for audit readiness and future reference.
Compliance is ignored
Invoices are rarely checked for compliance issues - struck off PANs, incorrect GST, MSME,
e-invoice checks and more.
No central database
Invoices and vendor data is distributed, and often inaccessible when required for audits and future reference.
Unreliable OCR systems
Legacy OCR scanning only offers about 65% accuracy, reducing trust in the system and leaving invoices to be checked manually.
Messy vendor masters
Vendor contact data is rarely updated. KYC is done only once, and never updated. Distributed data means vendor master are messy.
Drain on AP teams
AP teams attend to every payment-related inquiry from vendors via phone/ email. Vendors have no other way to check but followup.
Increased risk
Lack of regular KYC checks, updated contact data increases chances of fraud and unauthorised payments being made.
Presenting the most comprehensive vendor management suite built for large Indian enterprises
Vendor Onboarding & KYC
Implement a digital onboarding process for vendors with KYC checks built right in
Onboard vendors digitally, while verifying their PAN, MSME & GSTIN statuses as well as their bank account details. Catch any non-compliance ASAP.
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Vendor Portal
Manage all your vendors & collaborate on their POs, invoices, payments and more
Allow vendors to communicate on POs, GRNs, invoices, track payments and access their ledger. All via a single dashboard.
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Vendor Payment Communication
Instantly and efficiently update vendors on completed payments
Send detailed payment advice to vendors on email and WhatsApp so they never have to raise queries again on adjustments made, payment breakups
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Vendor Risk Analysis
Automatically profile vendors on risk basis compliance data and previous transactions
Profile and label vendors at different thresholds of risk. Make informed decisions by evaluating vendor risk through credit mismatches and disputes.
✨ Coming Soon ✨
✨ Coming Soon ✨
Dynamic Cash Discounting
Offer early payments to vendors in lieu of discounts to boost your EBITDA. It’s a win-win
Use CashFlo’s dynamic discounting system to maximise vendor discounts, while offering vendors a way to get paid early.
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Explore our entire suite of Corporate Finance Automation Products
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Unlock the potential of your finance team & boost productivity 10x. Let us show you how.
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Exploring Vendor Management & its Business Impact
Vendor management is a strategic approach that enhances how businesses oversee and engage with their suppliers, ensuring a seamless vendor management process. By implementing a vendor management system, companies can select the best vendors, monitor performance, and build strong relationships, all of which are crucial to maintaining efficient operations. This strategy not only reduces risks but also optimizes costs, aligns with vendor management best practices, and supports compliance.
1. Tackling Financial Hurdles: Vendor management services enhance cost control and budgeting.
2. Addressing Cash Flow Disruptions: A vendor bill management system ensures timely payments and smooth cash flow.
3. Managing Unexpected Expenses: Vendor management solutions help reduce unexpected financial impacts.
4. Reducing Manual Processes: Automating vendor lifecycle management saves time and resources.
1. Tackling Financial Hurdles: Vendor management services enhance cost control and budgeting.
2. Addressing Cash Flow Disruptions: A vendor bill management system ensures timely payments and smooth cash flow.
3. Managing Unexpected Expenses: Vendor management solutions help reduce unexpected financial impacts.
4. Reducing Manual Processes: Automating vendor lifecycle management saves time and resources.
When Should You Adopt a Vendor Management Solution?
Complex Vendor Management: If handling multiple suppliers is challenging, a vendor management system simplifies processes and improves efficiency.
Performance & Compliance Issues: Inconsistent vendor performance or compliance difficulties call for a solid vendor management strategy and onboarding best practices.
Manual Tasks & Data Management: Automate workflows and use data management solutions to reduce manual tasks and errors.
Cash Flow & Financial Accuracy: Use a vendor bill management system and accounts payable integration to address payment delays and reporting inaccuracies.
Growth & Outsourcing: Ensure your vendor management solution scales with your business and supports lifecycle management for effective outsourcing.
Performance & Compliance Issues: Inconsistent vendor performance or compliance difficulties call for a solid vendor management strategy and onboarding best practices.
Manual Tasks & Data Management: Automate workflows and use data management solutions to reduce manual tasks and errors.
Cash Flow & Financial Accuracy: Use a vendor bill management system and accounts payable integration to address payment delays and reporting inaccuracies.
Growth & Outsourcing: Ensure your vendor management solution scales with your business and supports lifecycle management for effective outsourcing.
Benefits of Vendor Management
Enhanced Vendor Selection and Negotiation
A robust vendor management system improves the vendor selection process and leverages vendor management best practices to negotiate better rates and terms, optimizing cost savings.
Streamlined Onboarding and Integration
Implementing effective vendor onboarding strategies and vendor management solutions speeds up the onboarding process, reducing the time and effort required to integrate new suppliers into your workflow.
Reduced Risk of Supply Chain Disruption
By using vendor lifecycle management and effective vendor account management, businesses can minimize the risk of supply chain interruptions, ensuring more reliable and consistent supplier performance.
Vendor Management Workflow
1. Vendor Selection & Contracting: Streamline supplier selection and contract negotiation with a vendor management system, aligning with strategy and best practices.
2. Onboarding & Integration: Apply vendor onboarding best practices and strategies for smooth integration using vendor management solutions.
3. Performance & Risk Management: Track vendor performance and mitigate risks with vendor lifecycle and account management.
4. Payment & Financial Management: Use a vendor bill management system to manage payments and ensure accuracy in accounts payable.
2. Onboarding & Integration: Apply vendor onboarding best practices and strategies for smooth integration using vendor management solutions.
3. Performance & Risk Management: Track vendor performance and mitigate risks with vendor lifecycle and account management.
4. Payment & Financial Management: Use a vendor bill management system to manage payments and ensure accuracy in accounts payable.
Factors for Selecting the Right Vendor Management Solution
1. Strategy Alignment: Choose a system that supports your vendor management strategy and goals.
2. Data Management: Opt for robust vendor data management for efficient information handling.
3. Best Practices: Ensure adherence to vendor management best practices like onboarding and risk management.
4. Automation & Integration: Select systems that automate workflows and integrate with existing processes.
5. Scalability: Pick a flexible solution that handles multiple vendors and scales with business growth.
2. Data Management: Opt for robust vendor data management for efficient information handling.
3. Best Practices: Ensure adherence to vendor management best practices like onboarding and risk management.
4. Automation & Integration: Select systems that automate workflows and integrate with existing processes.
5. Scalability: Pick a flexible solution that handles multiple vendors and scales with business growth.
Top Providers of Vendor Management Tools in India
India's top providers offer advanced vendor management tools for businesses. Cashflo excels with a platform for seamless vendor lifecycle management, covering onboarding, automated payments, and risk management. Other providers offer integrated systems that enhance vendor data management and compliance with best practices. These tools optimize vendor relationships, ensure timely payments, and improve procurement efficiency. Choose solutions that align with your needs and scale with business growth.
Frequently Asked Questions
How does a vendor management system work?
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Why is Vendor Management Important?
Why Choose Cashflo for Vendor Management?
How Does Vendor Management in Accounts Payable Ensure Compliance?
How can vendor management help with compliance?
How Does Vendor Management Software Benefit Businesses?
What role does vendor lifecycle management play?
How can a vendor management system handle multiple vendors?
Power your corporate finance team with CashFlo
Speak to an expert from our team to see how CashFlo can help you automate and elevate your corporate finance function
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