Vendors expect to be paid promptly. When those expectations aren’t met, frustrations arise. Not only do late or lost payments degrade vendor relationships, but they also elevate stress levels for AP staff, and eliminate any possibility of vendor discounts.
An efficient AP system that tracks payment status and automates vendor payments is hugely beneficial for any organisation. In this blog, we’ll explore how Quadient AP provides an efficient payment system to empower your teams and help you stay in good standing with all your vendors.
The importance of good vendor relationships
In many ways, your business success depends on your suppliers. Having strong, positive vendor relationships is essential to control costs, satisfy customers, and offer a quality product or service. Vendors are your allies.
However, you can’t expect to enjoy a productive and profitable buyer-supplier relationship without paying your invoices on time. That’s where Quadient's AP automation solution comes in.
How Quadient AP streamlines your process
Quadient AP lets you look up the status of your vendor payments anytime and from anywhere. All documents are stored in real-time and accessible from the cloud, making visibility and transparency a guarantee. Quadient's global search feature enables your teams to use keywords and filters to find any AP document in seconds.
Quadient AP's sophisticated platform also lets you easily search through all exported invoices, sorting by type, reference number, amount, or process date. This helps you quickly identify where each individual payment is in your workflow and ensures your AP team members always have the information they need to manage vendor relationships effectively.
See how it works: https://www.youtube.com/watch?v=724kp8ZAEjU
Customisable approval matrices eliminate approval bottlenecks, with invoices routed directly to the appropriate team member. Regular follow-up emails are then sent until the invoice receives approval and has been passed along for payment. By expediting the process, the likelihood of late payments is greatly decreased, helping you maintain a positive working relationship with your vendors.
Uplift your vendor relationships with Quadient AP
Quadient AP helps you have positive and mutually beneficial vendor relationships. Book a demo with us today to see how Quadient AP can elevate and automate your vendor payment workflows.
