Hands down, vendor registration is one of the most important elements for any channel partner program. It’s a useful tool for both your company and your partners, helping reduce the on-boarding time and building relations quicker.
The problem with most of the vendor registration programs, however, is that these programs are time-consuming to manage, which takes your salespeople away from their primary task of selling.
For a long time now, vendors have been on-boarded through salespersons, but they’re registered on paper or Excel sheets.
And perhaps the biggest drawback to a human-managed vendor registration system is the lack of data.
Automated solutions are needed, and these solutions can take the pain out of registration, providing benefits for both parties.
A scalable, adaptable & customized way for registering vendors will benefit you and your organization in many ways.
Streamlined processes helps save time and money. When you automate mundane tasks like on-boarding a new vendor, you free up your sales team to focus on just relationship building.
An automated portal also serves as a single access point for vendors to update their information, and it verifies against a constantly updated database.
When additional info is needed, the vendor enters the information once, and it’s pushed out to all companies connected to the database.
Are you contacting vendors individually for company-wide updates?
With a vendor registration portal, you can eliminate administrative workloads with automated notifications, such as certification expiration, certificate of insurance, code of conduct and small business affidavit collections.
A vendor system is only as good as its ability to process the data effectively and secure it.
Reducing the risk for both businesses and vendors in terms of data security and maintaining its integrity is one of the key features of a successful automated system.
Automated dashboards make it easy to see what’s going on in your program over time with specific partners or vendors.
The integration of relevant data with the CRM allows your channel account managers to better engage with their partners not just through deal registration, but also in everything else your partner portal provides.
The result is a more collaborative working relationship, and, hopefully, a better close ratio.
5. It’s a Good Return on Investment
The biggest benefit of a vendor registration portal is the ROI.
In most cases the returns begin immediately as labor-intensive tasks are transferred from in-house to the vendor.
Our Take on This
A well-automated vendor portal that can pre-populate and auto-fill the vendor fields is a great addition to the businesses.
On top of that, if it’s cloud-based with a mobile application, it ensures your sales team is well connected to your vendors around-the-clock. Businesses need to move away from legacy systems and recognize the benefits these systems can bring.
NameDrop Can Help
NameDrop is driven by “enhancing your customer experience”. NameDrop is here to revolutionize how people can securely share information with businesses, trade shows and conferences, filling out forms at the click of a button. We are the primary way in which businesses and people share structured data.
We are a GDPR-compliant service, and our mission is to provide an easy, fast & secure platform for sharing information between people & enterprise systems.
Want to see how NameDrop works?