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On February 5, 2020, Jon Titel and Scott McKeon of iPayables hosted a brief, informative webinar about supplier, or vendor, portals. iPayables patented their original portal 20 years ago and has continued to update it to give suppliers and the accounts payable department the best tools to work with in the payables process. Suppliers play a big role throughout the process, so it’s important that they’re able to be on the same page, without having to call the AP department. With the iPayables modern accounts payable solution, suppliers are able to be engaged in the process, from the creation of an invoice to when payment is received.

The key three functions of InvoiceWorks (the iPayables portal) are being able to submit online, check invoice status, and respond to issues. Suppliers receive live feedback if their invoices contain any errors that don’t match a purchase order, or other guidelines in place, so mistakes can be fixed when they are made. Plus, suppliers and AP personnel can comment on invoices through portal so they’re on the same page should there be any disputes over the invoice. As the invoice goes through the process, the appropriate supplier is able to track its progress and can even choose to receive payment early, at a discounted rate, if the invoice is ready.

One of the biggest questions iPayables receives as an accounts payable automation solution provider is whether or not suppliers are really willing to switch to a portal, and the answer is a resounding yes! A supplier survey conducted in 2019 shows that suppliers appreciate working with a portal and of those surveyed, 94.7% prefer working with a free portal. When given the tools necessary, suppliers have a better experience and managing the invoice process becomes easier for the AP department.


 
 
 

iPayables is the leading provider of enterprise-grade accounts payable automation solutions specifically tailored for large, complex accounts payable departments. Boasting a number of Fortune 100, 500 and 1000 clients, iPayables reduces paper processing costs the world over with a blend of innovative technology and excellent service.

 

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