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HOW DOES BILLHOP HELP WITH THE SUPPLIER ONBOARDING CHALLENGE ?
» Supplier onboarding is a pain point when it comes to indirect or tail spend management .
As companies continue to scale and grow , they inevitably accumulate more and more indirect suppliers that need to be onboarded onto the ERP system to get paid .
Payments to indirect suppliers are frequently given lower priority compared to their direct spend counterparts , given their ad-hoc and low-value nature .
In fact , studies have shown that it can take large enterprises up to six months to onboard a single supplier . It makes very little business sense to onboard a supplier that you ’ re only going to pay once .
Billhop addresses this by offering process efficiency in indirect spend management .
Enterprise clients can use their existing procurement cards – predominantly used for travel and entertainment – to pay indirect suppliers and treat them as ordinary expense items .
This way , they get all the necessary reconciliation data on card rails , which flow directly into their expense management system , in the same way as when they pay for hotel accommodation , for example .
By paying all tail spend suppliers with a card , our clients do not have to go through the costly and time-consuming process of onboarding these suppliers to their ERP system .
This comes with significant cost savings , without having to compromise on governance and data .
SUPPLIER ONBOARDING CAN BE A COMPLEX AFFAIR . READ OUR FEATURE ON BEST-PRACTISE ONBOARDING STRATEGIES