[Webinar] How to generate 1.25% or more in cash rebates from your Accounts Payable
Time to say goodbye to piles of checks to sign, worries about safeguarding your suppliers’ sensitive banking information, and constant phone calls from vendors wondering when their payment will be coming. The future of business-to-business (B2B) payments is now digital, automated and actually pays you back for being more efficient.
In this webinar, you will learn more about generating rebates of 1.25% or more using electronic virtual payment, how to get the most out of it efficiently and economically, and how to streamline accounts payable (AP) processing and automation using SGPay™.
In case you were wondering, SGPay™ is a powerful collaboration between SupplierGATEWAY® and BluePenguin, a fintech company disrupting the B2B virtual payments market.
Watch the recorded webinar where we’ll provide:
- Step by step instructions on how to start generating cash back from AP
- An overview of the SGPay™ platform in SupplierGATEWAY®
- A quick and easy guide to figuring out your Return on Investment (ROI)
- Answers to Virtual Payments Frequently Asked Questions (FAQ)
- Q&A at the end of the webinar
SupplierGATEWAY In Your Pocket
Mobility is no longer a luxury – it’s a way of life
- We bank on our phones
- We shop on our phones
- We communicate with our phones
- We establish our identity with our phones
- We practically need our phones to function
And now, everyone wants a supercomputer in their pocket – because, well…it just makes sense.
New pandemic-induced norms aside, being “always connected” in business is the new “low bar”. Being connected, efficient, and actually able to get things done is what will differentiate the businesses that survive and thrive, from those that just get by.
At SupplierGATEWAY, we took a long hard look at the conventional wisdom that said world class supply chain management has to be done one way (expensive, slow, complicated) – and we threw that out of the window. The result is our web and mobile enabled digital platform that helps you get things done (inexpensively, quickly, and easily).
So now, you can deploy a full Supplier Enablement, Procurement and CSR/Diversity Management system in minutes and not weeks or months. And with the SupplierGATEWAY app, you can have the power of an enterprise-class digital Supplier Management engine in your pocket.
Just like everything else we face today, this will take some getting used to.
Don’t take our word for it – try it now for free.
Find the SupplierGATEWAY app on the Apple App Store and Google Play Store.
Does your supply chain process serve your organization’s local mission?
Thinking Globally, Acting Locally
A well-integrated supply chain links a firm to vendors everywhere, allowing people to immediately see the least-expensive suppliers, the fastest shipping points and the highest-quality products, often all at once. However, for all the wonders of the global marketplace made real, they’re almost irrelevant to an emergency room doctor treating a car crash victim, a master chef pushing four orders of Beef Wellington out of the kitchen door or a special education teacher working with a troubled child.
The supply chain is a tool to help solve problems. But every organization has its own unique problems to solve.
Organizations look at global technology as a means to solve very local problems. A hospital CIO in an economically disadvantaged community needs technology to help serve its poor patients cost-effectively.
That chef might care about being able to source the best ingredients worldwide, but will be more concerned about executing the perfect meal for the people in front of her. Supply chain management for a school has to serve the needs of the student.
The bells and whistles of globalization matter less than delivering on the core mission.
Insights
- Engaging local organizations (e.g., chambers of commerce) to increase insight into local capabilities.
- Would like to see Economic Impact tied to Corporate Social Responsibility (CSR) and workforce impact.
- The ability to quickly see how many local resources are available for a given opportunity.
What do you need supply chain management solutions to do to reduce your compliance costs?
Some Rules Are NOT Meant To Be Broken
Thompson Reuters’ annual survey on compliance costs revealed an inflection point in the way firms are trying to manage regulatory risk. “It is no longer sufficient to simply throw more and more resources at risk and compliance,” the report noted. “Firms are now seeking targeted risk management outcomes by utilizing technology and specific value-add compliance skills.”
It’s getting more expensive to remain compliant, but getting caught is usually more expensive. SupplierGATEWAY can help check the financial background of a potential partner, cover criminal background reports and provide other compliance functions. Our solution helps cut costs by standardizing and automating the information pulled by a customer for compliance purposes because we’ve found that customers are often asking their suppliers for the same information.
That said, we recognize that few firms rely on superior compliance for profitability – there is little appetite for an expensive compliance process that doesn’t generate revenue.
Insights
Pragmatic Linkage – Because compliance is not revenue-generating, it should be complementary to other required systems and processes that are revenue-generating to generate maximum traction.
Additional Resources:
As COVID-19 is sweeping across the global economy and disrupting supply chains in all industries, watch this webinar to learn best practices to navigate a global crisis.
Keep calm and source on: How to ensure a healthy supply chain during a crisis
With 5G networks around the corner, what do you need mobile supply chain technology to accomplish for you?
There’s An App For That
Everyone has a smartphone. Mobile applications are ubiquitous, and mobility in the supply chain has grown beyond the debates about the best way to use an RFID chip.
SupplierGATEWAY supports an app… because we know that’s how people do business today. Consider the value of providing single-use security credentials to a client based on their physical location, or instantly pulling up warranty information on a broken tool, or finding a specialized supplier while out backpacking on a camping trip.
Change seldom arrives without apprehension and resistance in tow. We had a recent experience with a client who worried that their users wouldn’t have faith in a smartphone app to conduct critical procurement business. Fortunately, they are finding their fears to be mostly misplaced. Still, the intelligence of a system living in the cloud and not on a device remains hard to grasp at times.
The technology faces other challenges. Mobile security – particularly in a Bring Your Own Device environment – may be the most serious issue. Maintaining quality of service can be dependent on outside factors. Discovering and provisioning web services over traditional networks remains a challenge. However, the advent of 5G mobile networks will dramatically reduce these problems.
Insights
- “Anything I can do on my desktop, I need to be able to do on my phone.”
How do your expectations change when it becomes easier to adopt new supply chain solutions?
This Is Supposed To Take… Months
Rolling out an enterprise computing project will scramble nerves and demand long hours, given the traditionally high rate of integration failure. Rollbacks are more than embarrassing; they can break a career.
Interoperability is answering this problem. It’s becoming easier to quickly stitch together comprehensive, secure systems built from different standardized tools, bypassing multi-year timelines for traditional integration projects.
Now, customers may want an enterprise system using cloud infrastructure they can deploy rapidly with low risk, low cost, and the same utility as a traditional enterprise system.
What does this actually mean for the customer? Having the capability to do something quickly is one thing; having the vision to use it to create a competitive advantage is entirely different.
Insights
- Efficiency – The impact of the technology should create more opportunity to focus on program goals.
- Expectation – Contemporary adoption of technology dictates that the user experience should get easier and easier over time – even if the task itself is still complex.
How do you add more value to your organization when new supply chain technology changes the game?
Making Technology Work For You
We think of automation as a threat to jobs on factory floors and in customer call centers, but most people – 65 percent of Americans according to a recent Pew survey — believe automation is coming for almost everyone eventually.
Job displacement is an old problem for people who work in technology, of course. Globalization means tech staffers often have to fight to demonstrate their value to the enterprise over a captive center or third-party vendor. Integration projects are risky all on their own; half fail, and often cost people their jobs. Moreover, IT staff can view a successful upgrade as a job threat. This can put IT staff at odds with innovation. A system that suddenly requires half as many software engineers or database administrators can present disincentives to adoption.
This isn’t a technology problem. It’s a management problem.
Enterprises should be looking for ways to derive maximum value from their staff. A software engineer would probably add more value to the organization by developing new applications than fixing code. A database administrator might help the team more by enabling Big Data analysis than simply making sure the servers are up and running. Adopting something new, like a cloud-enabled logistics service, can provide breathing room for staff to align their work more closely with the things that make money.
Insights
- Mobility – Due to the increasing reliance on mobile devices, it would be preferred if as much functionality as possible is available in the mobile app (compared to the web version) so users can complete their transactions in the app rather than having to switch in mid-process.
- Sharing with Peer Groups – Provision for establishing affinity groups for sharing information.
- Trending – Indicators for vendors that have been recommended or shared.
What do you need to know about potential business partners?
So, I Know A Guy…
Some of your business partners have probably been amazing. Some might be so bad you wonder how they stay in business. In either case, you might be inclined to keep your opinion to yourself, because a good business partner can go bad for someone else – damaging your credibility – or a bad partner can decide you’re easier to sue than placate.
Liability means businesses often don’t talk about other businesses in anything other than glowing terms. We have credit ratings and the Better Business Bureau, but there’s no equivalent to Yelp for corporate America. That means a lot of really valuable information about companies disappears into the ether for fear of repercussions.
SupplierGATEWAY is developing tools to help companies rate other companies. But even there, we are looking at ways to better address questions about accountability. We are doing so in an open and transparent system, so that users can establish enough trust with it and with their business partners, to tell people what they really think about them.
Insights
- Every industry has a list of things they check with regard to vetting possible vendors
- Ideally the solution should provide the flexibility to adjust criteria for evaluating.
- Evaluating Risk – Availability of quick metrics for evaluating risk. e.g., ratio of projected spend amounts to supplier’s annual revenue.
