APR 26 2023 Blog Onboarding

Accelerate ERP and P2P Onboarding with Graphite

Does your supplier onboarding process take too long? You’re not alone. In a recent survey, eighty percent of procurement teams say their onboarding process is too slow! Maybe you use PDFs or spreadsheets to collect supplier data. Or you have to sift through multiple duplicate records. Perhaps your team has to manually enter data into separate ERP and P2P systems that don’t play well together. Bottom line? These issues can potentially kill your team’s reputation and ability to add value.

Onboard in minutes, not months

Graphite Connect can help. Our end-to-end supplier lifecycle and risk management tool offers a secure, central location for buyers and sellers to connect, collect, and store all necessary information. Suppliers can easily upload their data into the secure Graphite profile and then click to connect and share this information with prospective new buyers.

With Graphite, your procurement team and other stakeholders gain clear visibility across supplier onboarding, due diligence/risk management, and supplier setup. Effortlessly onboard suppliers, verify their information in Graphite, then sync that data into your critical ERP and P2P tools for a de-duplicated, accurate supplier record exactly where you need it.

Eliminate duplicate supplier records

Easily search for an existing supplier or create a new account. Each time a supplier enters a tax ID and their country of registration, Graphite automatically performs a hard check to ensure that an account for that vendor hasn’t already been created. This cuts the ability to create duplicate records, so you can be confident you’re not dealing with multiple accounts for the same supplier.

Validate supplier data

Graphite simplifies data management, whether it’s data managed by the buying organization, self-reported supplier information, or third-party validations. Key commercial data like tax IDs, bank account and routing numbers, OFAC, and W-9 forms are automatically validated by Graphite, so you can be sure that you’re working with the most accurate information every time. For example, any updates to supplier banking information require two-factor authentication and secondary approvals. Because all this data is clean and ready to go, you can cut weeks out of your onboarding process.

Integrate with ERP and P2P systems

Full integration with your ERP and P2P systems saves time and eliminates the need for error-prone manual data entry. A central location for storing and managing master supplier data ensures you’re working with a single source of truth. Both buyers and sellers can edit data fields and documents, enabling rich collaboration with full encryption and security. All data updates are automatically pushed into the different ERPs you’re working with, including versions of your ERP across multiple locations and legal entities. Graphite is your centralized Golden Record for supplier data.

Manage all levels of risk

Our secure network offers stakeholders a window into the process, bringing in the right people to perform different tasks, risk reviews, or approvals at the right time. Risk assessments, action plans, tracking, reviews, and rescreens can all be automated in Graphite, allowing you to focus on your higher-risk suppliers. In addition, data is updated in real time so your procurement, compliance, and risk management teams all see the same information. As a result, they can work together to quickly analyze all risk levels and take the appropriate actions to keep things moving smoothly.

Gain enhanced visibility, speed, and efficiency

Our centralized network simplifies supplier onboarding, data validation, and secure information sharing. With Graphite, you get a standardized onboarding process, risk management, and full integration with your ERP and P2P systems. Consolidating multiple tools can significantly reduce supplier onboarding time and maximize your tech stack’s efficiency. Our platform also provides your internal business partners with a quicker experience. When you’re ready, Graphite can help you.

Ready to Learn More?

When you’re ready to speed up your P2P and ERP onboarding, Graphite can help.

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#Supplier Data Management
#Supplier Onboarding
#Vendor Data Management
#Vendor Onboarding