5 Steps for Better Supplier Onboarding

5 steps for better supplier onboarding

By PrimeRevenue • Published August 5, 2016 • 3 minute read

As part of an organization’s financial wellness strategy, supply chain finance can deliver transformative benefits. By unlocking working capital, organizations can improve cash flow to become more productive, more competitive and more innovative. These same benefits extend to suppliers participating in a customer’s supply chain finance program.

So, why do some supply chain finance programs outperform others? What makes a program underperform? The answer comes down to supplier onboarding. How well a company onboards its suppliers directly impacts the program outcome.

Having implemented supply chain finance onboarding programs for more than 30,000 suppliers across the world, PrimeRevenue has identified several best practices to help companies avoid these pitfalls and ensure the success of supplier onboarding. In this white paper, we share an end-to-end, five-step onboarding process that has been proven to increase supplier program adoption rates as well as the value each supplier receives from the program.

5 Steps for Better Supplier Onboarding