5 ways to accelerate supplier onboarding
Post on 08-May-2015
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DESCRIPTIONDid you know that you can radically improve your supplier onboarding rates and participation? This presentation covers the dismal enterprise onboarding numbers we routinely see today, and the cost to business. You'll learn five great ways to improve onboarding, and how the Tradeshift platform can help. Lastly, it shows how a Fortune 500 customer radically changed their supplier involvement to boost KPIs and fully reap the rewards from their technology investment.
- 1.1 5 ways to accelerate supplier onboarding Hi, thanks for joining us! We will begin the webcast shortly, but in the meantime, please keep in mind: Questions or comments should be entered into the chat box Use #tradeshift when tweeting Presentation and recording will be sent after the webinar
2. 2 Agenda Rachel Kuller, B.Sc., M.A. Senior Product Marketing Manager Former VP of Corporate Strategy at BlackRock, the worlds largest asset manager A decade of experience consulting to Fortune 500 technology companies 1. Introduction 2. State of supplier participation 3. Turning it around 4. Case study 5. Q&A @rachelkuller 3. 3 Quick note: new webinar registration process You will need to sign up and sign a commercial agreement, even if youve done other things with us before By the way, we are going to charge you for every webinar you watch You must purchase a minimum of 3 webinars as part of the registration process You will need some basic command line syntax to control the viewer 4. 4 Actual supplier onboarding instructions from one well-known e-invoicing solution Suppliers must purchase a minimum of 12 transactions as part of the registration process. Suppliers sending data files join the network with an annual membership fee which covers invoices to any customers on the network, and a small transaction fee based on the number of invoices per month. SOLUTION Xs fees/tariffs are published on www.solutionx.com. Click on "Register" button, then click on Fees on the right hand side. Andsupplier must go through a 10-step sign-up questionnaire and then wait to be contacted prior to being able to send an invoice. 5. 5 About Tradeshift Our mission is to connect every business in the world and create value for the entire supply chain Flexible, open cloud platform enabling businesses and their employees to connect, communicate and transact Modern, state-of-the-art user experience There has been an innovation drought in the transaction side of the supplier environment. The Tradeshift platform changes this. Whats more, Tradeshift will allow us to innovate and improve collaboration and transaction efficiency across our global supplier network without disrupting our existing infrastructure. - ADM 6. 6 Flexible, extensible procure-to-pay solution TRADESHIFT PLATFORM Document Transmission, Statuses, Messages, Integration, Security, API Supplier Buyer E-Document Exchange CloudScan Financial Solutions Collaborative Workflow Apps Supplier Management 7. 7 Barriers to e-invoicing adoption Source: PayStream Advisors, 2013 Supplier participation is key to AP transformation. 25% 26% 36% 56% Cost for suppliers Communicating benefits with suppliers Offering supplier easy-to-use tools Integration with suppliers 8. 8 So, how are we all doing? Best-in-class enterprises have just 40% of suppliers submitting e-invoices, with the rest averaging a dismal 8.5%. - Ardent Partners, 2014 Fortune 500 U.S. corporate real estate services company with 37,000 suppliers. # of suppliers they onboarded in 3 years: 90 Fortune 500 Global apparel company with 20,000 suppliers. # of suppliers they onboarded in 4 years: 413 9. 99 Best practices for every situation: data management and supplier awareness Total unique suppliers = X - Y Email addresses = X - Y - Z Valid Email addresses = W Need to enrich current supplier master data with valid email contact info when W represents under 60% of supplier base. Total suppliers in file = X Email Campaigns Direct Mail Web Presence Webinars Display Search Engine Mktg. PR Social Make the most of modern marketing practices and technology Manage your data effectively 10. 10 #1: Use paper and PDF to your advantage #2: Seize trigger-based moments #3: Bring in new suppliers #4: Lure with Early Payments #5: Enable one-click to connect 5 ways to get more suppliers onboarded 11. 11 #1: Use paper and PDF to your advantage 12. 12 No matter who validates, CloudScan onboards AP Validation Invoices scanned from paper by AP Exceptions corrected by AP or suppliers Supplier Validation Invoices from email attachments Exceptions corrected by suppliers Supplier invited to join Tradeshift Demo: CloudScan drives onboarding 13. 13 #2: Seize trigger-based moments 14. 14 Purchase orders lead to onboardingand straight-through processing Send PO to supplier via Tradeshift Supplier receives email prompting to review PO and to send invoice 15. 15 Required changes can also become non- boarding 16. 16 #3: Bring in new suppliers 17. 17 Signing up as a new supplier can be used to drive onboarding Demo: Supplier Registration 18. 18 #4: Lure with Early Payments 19. 19 Use offers for dynamic discounting or supply chain financing to drive onboarding 20. 20 #5: Enable one-click to connect 21. 21 Power of the network: Tradeshift users easily connect with you Existing Tradeshift User Easy to connect No new integration/ paperwork Business rules immediately apply PDF Streaming for quick time- to-value Demo: connect to new customer 22. 22 Case study: Fortune 500 global apparel company with 20,000 suppliers Before: Onboarded fewer than 100 suppliers per year Prior to Tradeshift With Tradeshift High supplier fees and low supplier value Free for suppliers and high value Inefficient call center Technology-driven Clunky, legacy system Modern, mobile, easy-to-use After: Suppliers join >12x faster 23. 23 5 ways to get more suppliers onboarded: putting it into action today #1: Use paper and PDF to your advantage #2: Seize trigger-based moments #3: Bring in new suppliers #4: Lure with Early Payments #5: Enable one-click to connect 24. 24 Questions? 25. 25 Thanks for joining us! Register for our next webcast: tradeshift.com/suppliersfirst Stay relevant, visit blog.tradeshift.com Continue the conversation #tradeshift Presentation and recording will be sent soon 5 ways to accelerate supplier onboarding