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The Art of Supplier Onboarding

The document outlines the importance of supplier onboarding and details an interactive webinar focusing on effective strategies for onboarding suppliers. Key topics include the onboarding process, success stories, and the use of modern marketing automation and 'white glove' service to boost supplier engagement. It emphasizes the need for quality data and tailored approaches to achieve faster onboarding rates and includes case studies showcasing successful implementations by Tradeshift.

Related topics:
AP Automation Solutions•Accounts Payable Insights•
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The Art of Supplier Onboarding Hi, thank you for joining us! We will begin shortly. In the meantime, please keep in mind: • We want this to be an interactive webinar, enter your questions and comments in the chat or Q&A box • Slides and recording will be sent out afterwards
Presenters Andrés Suay Head of Network Growth Marketing Mihir Nanavati Senior Vice President of Product
Agenda ▪ Intro ▪ Onboarding Process ▪ Success Stories ▪ Digital Marketing Examples ▪ Product Demo
Why is supplier onboarding so critical to your success?
Total supplier base Existing suppliers New suppliers PO or high frequency suppliers Non-PO or low frequency suppliers PRIMARY ON-BOARDING APPROACH Event-driven onboarding PO “flip” to invoice CloudScan Campaign-based onboarding White glove Marketing automation Supplier Registration Composition of supplier base determines approach
5 unique keys to onboarding success 1. Modern marketing automation 2. “White glove” service 3. Superior supplier value 4. Consultative excellence 5. Event-based supplier onboarding
5 unique keys to onboarding success 1. MODERN MARKETING AUTOMATION SUPPLIER Email Campaigns Direct Mail Web Presence Webinars DisplaySEM PR Social
5 unique keys to onboarding success 2. “WHITE GLOVE” SERVICE
5 unique keys to onboarding success Free Many ways to interact Get paid faster Online profile Easy to use Use with own suppliers Transparency Use with all customers 3. SUPERIOR SUPPLIER VALUE 4. CONSULTATIVE EXCELLENCE • Strategy development for multi-country deployment • Supplier communication best practices 5. EVENT-BASED SUPPLIER ONBOARDING
Onboarding Process
Principles of a good onboarding campaign We know your suppliers are precious to you, and onboarding is an ongoing process. We encourage you to take joint responsibility for onboarding to ensure long-term success. Joint journey Enforcing e-invoicing as a mandatory requirement will dramatically increase supplier participation. Enforcement Tailoring approach and approach to suppliers based on key characteristics yields better results. Supplier segments and multi-channel onboarding The campaign must be “high-energy” in order to build momentum quickly, and all communication should be authentic: simple, honest and to-the- point Momentum and authenticity Status change, instant messaging and personal recognition are the best way to motivate your suppliers Give something back A good data set is vital to starting the process successfully. Ultimately, the time taken to reach the right decision-maker is the most important factor in achieving fast onboarding rates Good data
On-boarding effectiveness improves exponentially when good email contact data is available Total unique suppliers = w - x Email addresses = w – x - y Valid email addresses = z Need to enrich current supplier master data with valid email contact info. After removing invalid, duplicate and generic email addresses Total suppliers in file = w
Campaign-based onboarding Integration Method PR Segmentation of suppliers based on invoice volume Personal Workshop Webinar Email campaign Direct Mail Extra small (1-35) Small (36-120) Medium (121 – 600) Large (601 – 3000) Extra large (>3000) Upon customer approval and budget Standard offering Web UI Web UI/Clou dScan Web UI SFTP/F TPS API or SFTP/F TPS API or SFTP/F TPS Note: Campaign effectiveness depends on quality of data available (e.g., % of email addresses) SEM/ Display
All onboarding efforts run in parallel Week 1 Week 40 Week 35 Week 30 Week 25 Week 20 Week 10 Week 5 Week 45 Email data enrichment Week 15 Premium Suppliers outreach Premium Suppliers integration Long Tail automated campaigns Premium VIP supplier onboarding Data quality “Long Tail” onboarding Email data enrichment Email data enrichment Event-based onboarding PO Flip CloudScan If PDF streaming – start campaigns with available email address
PREMIUMSUPPLIERS Workshop / webinar invitation Supplier workshops / webinar Supplier follow-up weekly Q&A webinar dial-in Supplier engagement On-going supplier support Week 1 Week 9Week 8 Week 7Week 6Week 5Week 4Week 3 Week 2 Week 10 1 on 1 Supplier on-boarding 1 on 1 Supplier integration High touch personal communications with premium “White Glove” suppliers
Success Stories
3. World’s largest sports apparel brand: 36X faster than competitor 1. Global distribution and logistics firm: 0% to 48% e-invoices 2. World’s largest healthcare provider: 75X faster than leading competitor Tradeshift leads the industry in onboarding
1. World’s largest healthcare provider: 75X FASTER THAN leading competitor • Prior to Tradeshift, only 100 of NHS’s suppliers were electronically onboarded by a leading competitor over 4 years • Tradeshift has already onboarded 2,794 suppliers in 18 months • CloudScan is the next tool to be used to convert suppliers from paper to e-invoices Tradeshift leads the industry in onboarding
• Phase one: from zero to 48% of the 3M invoices in scope • 1.4M invoices now received electronically • 33% of the labor time in scope has been reduced • 21 of 63 FTEs handling invoices were redeployed • Invoice handling increased from 4,000 to 6,000 per person, per month 2. Global logistics provider: 0% TO 48% E-INVOICES Tradeshift leads the industry in onboarding
3. World’s largest sports apparel brand: 36X faster than leading competitor • Prior to Tradeshift, 8% (350) of North American suppliers (4,400) were onboarded by leading competitor over 4 years • Tradeshift has already onboarded 94% (4,176) of the suppliers in 16 months • Full scope of 5,000 workflow users are already live after 7 months • On track for total business case savings of $30M, with additional risk avoidance savings TBD Tradeshift leads the industry in onboarding
Digital marketing examples
Example: http://de.tradeshift.com/supplier/dhl/ Tools to onboard suppliers: landing page
Tools to onboard suppliers: Olark (example) Can also be implemented on your own sites
Tools to onboard suppliers: info on your own site Example: http://www.sbs.nhs.uk/home/working-with-suppliers
Events Driven Onboarding
Various product events drive supplier onboarding Receiving Purchase Orders Sending PDF invoices as email attachments From scanned paper invoices Supplier initiated connection request
Receiving Purchase Orders
Receiving Purchase Orders
Receiving Purchase Orders
Receiving Purchase Orders
Sending PDF invoices as email attachments
Sending PDF invoices as email attachments
Sending PDF invoices as email attachments
Sending PDF invoices as email attachments
Sending PDF invoices as email attachments
From scanned paper invoices
From scanned paper invoices
From scanned paper invoices
From scanned paper invoices
Supplier initiated connection requests
Supplier initiated connection requests
Supplier initiated connection requests
Supplier initiated connection requests
Supplier initiated connection requests
New Supplier Sign Ups
“There is a very common and big pain around managing Vendor Master Data / Supplier Portal. It’s something that usually has no owner, very painful to update - garbage in/garbage out. Not a simple database problem, it’s an upstream problem reliable on business users to comply upstream. Some people are using third party firms to manually clean up data. And people would love to have this problem taken care of magically - if we could provide a supplier portal that each supplier could update their own info including W9/W8, this would be a data-as-a- service that would be very valuable.” - Tradeshift buyer
Eltec Inc. requires your company Staples Advantage to join the Eltec Supplier Network on Tradeshift As a supplier to Eltec Inc. you must complete the supplier registration via Tradeshift to be able to do business with Eltec. After completing the supplier registration it will be validated by Eltec Inc. within 5-7 business days. Any questions you may have can be sent to your contact person Mihir Nanavati, mna+salesus_buyermaster@tradeshift.com, or simply as a reply to this email.
Total supplier base Existing suppliers New suppliers PO or high frequency suppliers Non-PO or low frequency suppliers PRIMARY ON-BOARDING APPROACH Event-driven onboarding Campaign-based onboarding Supplier Registration Summary ✔ ✔ ✔
The Art of Supplier Onboarding Thanks for joining us! • Visit tradeshift.com/resources • Slides and recording will be sent out afterwards