the art of supplier onboarding
TRANSCRIPT
The Art of Supplier Onboarding
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Presenters
Andrés SuayHead of Network Growth Marketing
Mihir NanavatiSenior 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 onboardingIntegration
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
40Week
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
PR
EM
IUM
SU
PP
LIE
RS
Workshop /
webinar
invitation
Supplier
workshops /
webinar
Supplier
follow-up
weekly
Q&A
webinar
dial-in
Supplier engagementOn-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, [email protected], 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
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The Art of Supplier Onboarding
Thanks for joining us!
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• Slides and recording will be sent out afterwards