Extended Capabilities for Your Supplier Portal
Improve Profitability and Enhance Supplier Relationships
Managing cash and working capital is a key procure-to-pay responsibility – and finding the right toolset is essential. With the Dynamic Discounting and Supply Chain Finance capabilities of our APEX Analytix Supplier Portal, you will have the big levers you need. Early payment programs can help you make the most of your working capital and improve your profitability while enhancing your vendor relationships.
Capture Early Payment Opportunities with Dynamic Discounting and Supply Chain Finance
One highly effective way to grow your bottom line is to pay suppliers early in return for a discount on what you owe. A recent report from Ardent Partners shows that paying a net 30 invoice on day 10 at a 2 percent discount can produce a risk-free, annualized return on investment of up to 37 percent. With “dynamic” discounting and supply chain finance, you can exercise even more control over discount returns by offering early payments at any time before the payment is due based on a sliding discount scale.
The powerful Dynamic Discounting and Supply Chain Finance module available with our FirstStrike Supplier Portal makes it easy for you to plan and manage a dynamic discounting program. Through a simple, easy-to-use interface, you can analyze dynamic discounting opportunities, communicate offers and track outcomes that impact your bottom line. You can even communicate directly with your ERP platform or third-party supply chain financing funding source to initiate discounted transactions – helping you turn accounts payable into a profit generator.
Suppliers have working capital needs of their own, and providing easy, online access to invoice status and dynamic discounting opportunities can provide just the relief they need. They can even propose dynamic discount offers of their own on any approved invoice.
- Analytics that help you build an optimal dynamic discounting and supply chain financing program. Using our FirstStrike rules engine, you can structure your dynamic discounting and supply chain financing program to produce the best possible outcomes. You can communicate seamlessly with funders, segment suppliers and structure offers based on the probability of acceptance.
- An operations workbench for easy dynamic discount management. You’ll find all the information needed to make business-impacting moves located front and center. You can extend dynamic discount offers, monitor acceptance, track profitability and produce high-impact reports.
- Marketing tools to improve dynamic discount adoption rates. FirstStrike makes it easy for you to communicate dynamic discount offers and to promote supplier adoption. You can trigger automatic alerts and send personalized messages over multiple media.
- Features that empower suppliers. FirstStrike also helps your suppliers manage their own cash needs. Powerful forecasting tools show the timing of pending payments and help suppliers monitor liquidity. They can proactively offer dynamic discounts of their own on a single invoice, group of invoices or any invoice approved.
Leverage a Broad Ecosystem of Support
In addition to dynamic discounting, our supplier portal includes three additional modules to extend your FirstStrike® Supplier Portal investment. Each is designed to support your operations globally in multiple languages and currencies.
- Supplier registration tools provide a cost-effective alternative to time-consuming and error-prone manual onboarding processes.
- Dynamic discounting tools let you grow your bottom line by paying suppliers early in return for a discount on what you owe.
- Supplier inquiry tools deliver 24/7, self-service access to current invoice and payment status.
- E-Invoicing and invoice automation tools convert purchase orders into electronic invoices and streamline invoice processing.
Our FirstStrike Supplier Portal itself is part of a comprehensive FirstStrike family. We offer solutions to protect against overpayments, uncover and investigate fraud, analyze large data stores for new insights, predict results...and more.