Supplier Onboarding Challenges
Trading Partner Onboarding is an important growth lever in business. When done quickly, it enables business users to easily collaborate with their trading partners or customers to drive the business forward. On the other side, those who don’t have a robust trading partner onboarding regime in place fail to grow at the speed of business. To summarize, organizations must quickly add new trade partners and suppliers to their existing ecosystem for realizing remarkable growth outcomes.
For a long time, organizations have relied on legacy systems to onboard trading partners. But, these systems make the process complex, time-consuming, and not reliable. These systems are not able to support secure communication protocols (AS2, OFTP2, SFTP, and more) as well as the EDI and non-EDI formats that the trading partners use. In this situation, companies cannot support new partner requirements and newer trading partner integrations with SaaS applications, such as Salesforce and NetSuite. Since old-styled solutions cannot reliably communicate with their customers and partners, risks of companies violating SLAs. Additionally, conventional trading partner management solutions need IT to build custom code that slows their ability to connect with those trading partners and effectively conduct business.
When IT teams have to self-custom-code, configure, test, and manoeuvre new integrations for every additional trading partner connection, the time required to deliver value lengthens, which, in turn, damages business relationships, pushing out ROI and ultimately making companies difficult to business with.