Everyone agrees that in order to increase ROI from a P2P implementation, suppliers must be on-boarded quickly and efficiently. What does this mean and how is it done?

First, on-boarding means allowing the Buying company to place orders electronically, access electronic supplier catalogs, and receive invoices electronically.

It should be noted that connecting to a Global Network with thousands of suppliers does not necessarily mean you have “on-boarded” your suppliers. If you do happen to find your suppliers on a Global Network, it may just mean they can receive an emailed PO from a buyer.

Even if your software provider offers a supplier network, expect to do some heavy lifting to get your suppliers, your catalogs, the suppliers invoice preferences (paper or electronic), and payment preferences set-up in your P2P system — either you or your software suppliers will need to do this.

Supplier networks are not all they’re cracked up to be. As one company recently put it, “If you’re going to connect with a Global Procurement Network, expect to do a lot of work yourself.”