Medius Launches Updated Supplier Onboarding Tool
Supplier Management software integrates with both payables and procurement processes, to provide an end-to-end solution that enables customers to manage supplier information, lifecycle, performance, and risk all in one place.
Responding to customers’ needs and changes in the market, Medius has updated its supplier onboarding solution, to help customers quickly onboard new suppliers and easily maintain accurate supplier data.
The Medius Supplier Portal, a self-service portal for suppliers, provides a secure management system based on a supplier network to simplify business processes, communication, and to provide enhanced efficiency for spend management. Importantly, suppliers can register, record, and update their details in a single, cloud-based location, helping customers gain control and visibility of all supplier data.
Ultimately, Medius’s supplier portal will save customers time, while also helping them have complete control of supplier data, while reducing the risk of fraud by flagging suppliers that don’t have appropriate accreditations in place, and ensuring master data remains accurate and compliant.
Daniel Ball, EVP Product, Medius, says: “There’s a lot of talk in the industry about AI, and autonomous and touchless processing of invoices - but the reality is that many businesses, regardless of size, location, or industry, still receive invoices out of the blue for any service or product that has been bought by anyone within a business. This process is still run largely offline, and when these invoices are received new suppliers have to be registered and onboarded - leaving little to no paper trail, and taking place in a manual and opaque manner, detached from other parts of the business.
Ultimately, this process and lack of technological innovation in supplier onboarding leaves businesses open to fraud, and less able to control spend. This is why we’ve updated the supplier onboarding solution for Medius customers - increasing efficiency and reducing risk.”
The new supplier onboarding solution will be rolled-out to new customers and for those renewing their Medius subscription. The solution will be available globally.
Simon Madders, Project Implementation Manager, Mitchells & Butlers says: “Our procurement teams can be confident that all information provided by the supplier is captured correctly, quickly and efficiently, and approved via the appropriate channels.”
Medius links invoice capture, processing and payment to replace the worry and wondering of managing AP with calm and confidence. Medius goes far beyond basic automation by using artificial intelligence to do most of the work – so invoices get confirmed, coded and paid; AP teams get to go home and rest easy; and businesses can trust their budgets and forecasts. Medius has more than 4,000 customers across 102 countries and processes $180 billion in annual spend through its system. Visit medius.com to learn more.