Supplier onboarding Process

What is Supplier On boarding?

Supplier on boarding is a standardized process used by customers to collect information (including tax forms) from new suppliers in an integrated ERP database. Supplier on boarding systems validate Supplier information, facilitate Supplier selection for procurement, share company policies, centralize documents, including purchase orders, contracts, and invoices, and communicate status.

It includes process of collecting the information needed to approve a company as a supplier and enabling your organization to conduct business, purchase goods and services, and make payments to that company. One of the most important aspects of the Supplier on boarding process is making sure the prospective supplier complies with laws, regulations, and standards required by your organization.

Having defined the basic principles you need to determine the exact steps, responsible departments or people and the flow of the on boarding process.