Larger enterprises, particularly those engaged in manufacturing, which work with anywhere between hundreds and tens of thousands of suppliers of varied types and sizes, find themselves grappling with a myriad of supplier-related issues that pose risks to their business objectives.
Supplier interactions, which typically begin with a sourcing activity, run through procurement, shipping, delivering, invoicing, and payment. Given the complexity of formats and systems and the speed and accuracy limitations that stem from human involvement, this set of interactions becomes complicated, slow, and prone to error and fraud, all of which jeopardize the organization’s competitive position.
Nipendo’s hyperautomation platform for RFx-to-Pay processes is an end-to-end cloud solution, which places great emphasis on addressing supplier risk. The platform enjoys a track record of onboarding over 93% of its customers’ suppliers, many of which differ from one another quite significantly, thereby optimizing the platform’s use. The key elements that contribute to this success begin with simple connectivity, through proactive user guidance and enablement of automated electronic interactions, full
visibility to every event, activity, error, or mismatch, allowing suppliers to respond self-provisionally, to correct errors and resolve discrepancies in real time, to expose their performance indicators and rating, to receive early payment, and more.
The platform’s user Interface is highly scalable, user friendly, self-explanatory, and intuitive. It is designed to support manufacturing environment through guided walk through algorithms, guiding the user on what to do next based on the business logic of the specific transaction and the user role, including a link to specific action steps.
Process governance and dispute resolution
Nipendo automatically governs all RFx-to-Pay processes and verifies that both suppliers and buyers perform the required tasks, in accordance with the buyer’s corporate policy. The platform manages and controls supplier responses and guides them through the required response type and timeline.
The platform requires trading parties to exchange the correct information with each other, mandating specific actions and providing relevant notifications, alerts and escalation procedures specifically aligned with the Buyer’s business rules and policies, customized to the specific position and role of the recipient. It also automatically follows up on open issues that fall within the governed processes.
Nipendo automatically reconciles e-invoices, and automatically validates any transaction and document type that a supplier sends to a customer, including attachments, PO confirmation, Shipping Notification, and the like. It also automatically identifies and corrects errors in documents, based on predefined
business rules and policies of the buyer. It can also automatically complete or correct missing or incorrect data elements, such as reference numbers, price, quantities, and the like.
Discrepancies are automatically resolved using a Machine Learning-based, continues improvement process that learns the user’s behavior and receives feedback. It enables suppliers to correct errors as they occur, in the cloud, before the data is transmitted to the customer.
Nipendo’s supplier portal enables suppliers to manage their own details, contact and product information.
General data is managed in the Company Details module, where each supplier fills in their details, contact information and domain of activity and if so desired, publishes them such that they can be found and viewed by buyers searching for new business opportunities.