Reason 2 – Supplier / Buyer commerce: Streamline commerce transactions
Business networks provide a range of techniques for your customers to do business with you in a streamlined manner. As part of their supplier engagement strategy, they can apply a variety of methods based on the varying transaction volume and technical capabilities of different suppliers. And over time, they can work with suppliers like you to move through increasingly efficient methods to deliver incremental improvements that add up to significant savings for both them and your suppliers.
- Punch-out makes it possible for customers to directly access your website and catalog from within their Purchase-to-Pay solution.
- Electronic PO posting on a business network provides a simple electronic method for sending POs, and a convenient way for you to receive them.
- Electronic invoicing provides your customers with options for structured transmission, receipt and processing of invoice data with you using EDI, XML, PDF or other formats. This method is ideal for higher volume suppliers with the technical capability to generate electronic invoices.
- Supplier self-billing allows lower volume suppliers to create electronic invoices on a business network based on usage, date or other parameters, and provides automatic payment remittance through electronic methods.
- Purchase order flip makes it easy for smaller and infrequent suppliers to create electronic invoices from purchase orders posted to them on the portal.
- Purchase card integration enables buyers to automate processing of spend from purchase card statements.
If your customer is deploying a business network, this represents a clear win-win opportunity for you and them, with clear benefits for all parties.