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 is too slow!

Maybe you use PDFs or spreadsheets to collect supplier data. Or you have to sift through multiple, often duplicate records. Perhaps your team has to manually enter data into separate Procure-to-Pay (P2P), Enterprise Resource Planning (ERP) systems, and other accounting software that don’t play well together. Bottom line? These issues can potentially kill your team’s reputation and ability to add value.

Onboard Supplier In Minutes, Not Months

Graphite Connect can help. Our end-to-end supplier lifecycle and risk management software system offers a central location for buyers and sellers to connect, collect, and securely store all necessary information. Suppliers can easily enter their own data through Graphite’s secure supplier portal and then click to connect and share this information with buying organizations looking for those exact products or services.

With Graphite, your procurement team can streamline processes and automate repetitive tasks like supplier onboarding, due diligence, and data management. Effortlessly onboard suppliers, verify your data is accurate in Graphite, and then sync that information into your critical P2P and ERP systems for a de-duplicated, accurate supplier master record exactly where you need it.

Eliminate Duplicate Supplier Records

Easily search for an existing supplier or create a new supplier account. Each time a supplier enters a tax ID and country of registration, Graphite automatically performs a hard check to ensure an account for that vendor hasn’t already been created. This reduces the chances of creating duplicate records and ensures data integrity, so you can be confident you’re not dealing with the added confusion of 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 within Graphite, so you can be sure that you’re working with the most accurate data 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 potentially cut weeks out of your vendor onboarding process, like this company did.

Integrate with P2P and ERP Systems

Full integration with your ERP technology and other critical business management software 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 across the entire business.

Both buyers and sellers can edit data fields and documents, enabling better collaboration with full encryption and security. All data updates are automatically pushed into the different ERP systems you’re working with, including versions of your ERP across multiple locations and legal entities. In other words, Graphite is your centralized Golden Record for supplier data.

Manage All Levels of Risk In A Centralized System

Our secure network offers stakeholders supply chain visibility, bringing in the right people to perform different tasks, risk reviews, or approvals at the right time. Graphite can automate processes such as risk assessments, action plans, and rescreens based on your unique business requirements, freeing you to focus on higher-risk suppliers.

In addition, supplier 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 supplier risk and take the appropriate actions to keep things moving smoothly.

Enhance Visibility, Speed, and Operational Efficiency

Our centralized network simplifies supplier onboarding, supplier data validation, and secure information-sharing. With Graphite, you get a standardized onboarding process, accurate supplier data, robust risk management, and full integration with any P2P or ERP system.

By consolidating multiple tools into one comprehensive solution, you can significantly reduce supplier onboarding time, maximize your tech stack’s efficiency, and streamline business processes. The Graphite platform also provides internal business partners with a faster, more efficient user experience and greater visibility into supplier performance and your supply chain.

Graphite Can Help.

Ready to learn how to simplify your core business processes, facilitate collaboration, and enhance your supplier relationships? Request a free demo today!

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#Supplier Data Management
#Supplier Onboarding
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#Vendor Onboarding