It is one of most hidden secrets, especially in the range of luxury hospitality products. One of the essential ingredients necessary to reach excellency and to fix prices with more liberty, is the provider list.
The provider experience have a fundamental importance, and can be a key piece that contributes to the successor failure of a company.
Providers experience: Its importance
The quality of the product, that complies with the date and amount agreed, that are capable of responding in moments of crisis or unforeseen circumstances...A company that can depend on good providers has an important part of the company well covered.
For this reason, the businessmen or managers with a good view of the business, give importance to the provider experience with the company. Naturally, you always have to comply with the due date and method of payment , but in general, everything that can improve the provider-company relationship is important to be able to count on a good provider service.
Closing the digital divide from providers
There are still many business that have not made the jump to digital. In the case artisan products or specialized raw materials it is quite normal. The question is can we still receive paper invoices from some of our providers.
This should not be a barrier between provider and company, and the key is in the flexibility and versatility of the Accounts Payable process. If the provider is not technologically adapted, it is the company that should absorb the format in which the invoice is issued, managing it with speed and efficiency so that it can played by the due date.
A supplier who has to put up with late payments or who is forced to use a specific invoice format with a customer, if they have sufficient demand elsewhere with fewer complications, will stop working with that customer, or at least will not give them priority when demand peaks, which could compromise that company's supply.
A place for the provider
That we live in the information era is no longer in doubt. If we were speaking about a provider who has not totally digitalized or who has problems in adapting to new technological models, now we are going to the other extreme, the provider who is totally comfortable in the online environment, and is accustomed to having at hand information and visibility in all the process in which they are involved.
As in this case, and in the other provider profiles that the company may have, is is advantageous to count on a space where the provider can follow the state of their payments, communicate with the area responsible of this and resolve possible incidents.
A provider portal allows for the maintenance of a climate of confidence between provider-company, and a collaborative space so that the process from receipt of invoice to payment is solved efficiently and effectively.
