Stay connected
Subscribe to our corporate payments blog to stay on top of payment innovations.
"*" indicates required fields
You鈥檝e embarked on a supplier enablement campaign to expand your ability to pay suppliers with virtual cards (or another form of payment). You鈥檝e analyzed which suppliers can quickly be transitioned, and you鈥檝e now identified additional suppliers who are willing to be onboarded to this new form of payment. These are big wins!聽
Now that you鈥檙e at the supplier onboarding stage, what should you expect from your payments provider and this process? We break it down in the final blog post of our three-part series on supplier enablement.
Check out Part 1 on supplier enablement and Part 2 on supplier analysis.听
Supplier onboarding is the process of bringing on a supplier鈥檚 accounts receivable team to process payments from a buyer. The supplier onboarding process begins once a supplier has agreed to accept a new form of payment.
Payment acceptance is a critical factor when buying decisions are made. When suppliers don鈥檛 accept a certain form of payment, that comes at a cost to you in many ways, including that you may:聽
Plain and simple, you can buy from more suppliers using the payment methods you prefer. And if we鈥檙e talking about virtual cards, that means:
The buyer-supplier relationship is vitally important to your business. To effectively onboard suppliers, that relationship needs to remain top of mind. In onboarding suppliers to virtual cards, your payments provider should:
Stay up to date on the latest in business payments by subscribing to our blog! Simply hit the 鈥淪ubscribe鈥 button above or submit your email address in the form below.
Subscribe to our corporate payments blog to stay on top of payment innovations.
"*" indicates required fields