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          Finally! The trick to securing greater T&E compliance
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Tool makes annoying vendor calls a thing of the past

Jared Bilski
by Jared Bilski
October 1, 2008
1 minute read
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Want a more efficient, productive A/P staff? Then eliminate incoming calls from overzealous vendors wondering if their invoice was received or a payment is on its way.

A vendor portal can free your A/P staffers from the constant flow of calls that interrupt their work.

Vendor portals, known also as Interactive Web Response (IWR), are the Internet equivalent of Interactive Voice Response (IVR).

Most of the providers that offer automated invoice technology can also outfit your company with a vendor portal to give vendors info about purchase orders and payment status — so A/P doesn’t have to.

The majority of companies see a drastic drop in incoming call volume after being equipped with a vendor portal.

Another plus: Portals help to foster “discounting” with vendors. For example, vendors can look at invoices that are waiting to be paid and grant discounts for the ones that are paid early.

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CFO Daily News, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day’s headlines, CFO Daily News delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.

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