A/R and Deduction Management and Retailer Portals
A bot, short for robot, is a special computer program (robotic process automation) that can perform automated tasks. Bots can act as agents for a user and simulate human activity or be triggered by another computer program. In this case, we are using Bots to access and interact with trading partner platforms (portals) to exchange data and documents and facilitate quick action on claims before they are deducted from a payment to the supplier.
Most large retailers have implemented supplier portals for self-service to facilitate many aspects of their supplier relationships, including claims, chargebacks, and deductions. Suppliers must learn how to manage their accounts receivable and compliance operations using this automation.
Here is a list of some of the major portals.
Amazon Vendor Central™, Walmart Retail Portal™, Target’s Synergy™, Home Depot Suppliers Hub™, Lowe’s Vendor Gateway™, Kroger Levante Portal™ (PRGX), Albertson Supplier Central™, Nordstrom Accounts Payable Portal™, Macy’s Partners™, Walgreens SupplierNet™, Costco™, CVS Vendor Portal™, Kohl’s Supplier Portal™, Publix Business Connection™
Automated Bots used in our advanced Carixa SaaS software for accounts receivable, collection, and deduction management greatly enhance efficiency and effectiveness when using Retailer Supplier Portals. Here’s how Bots contribute to streamlining various processes and efficiency.
- Automated Data Entry: Bots can be programmed to automate data entry into the Retail Portal. This includes updating information related to products, inventory, and orders. By eliminating manual data entry tasks, Bots reduce the risk of errors and significantly speed up the process of updating and maintaining accurate information.
- Real-time Monitoring and Alerts: Bots can continuously monitor the Retail Portal for changes, updates, or specific events. This real-time monitoring capability lets suppliers receive instant alerts regarding significant developments, such as new orders, inventory status changes, or deduction resolution updates. This ensures that suppliers stay informed and can take prompt action when necessary.
- Deduction Resolution Workflow Automation: Bots can automate specific steps within the resolution workflows to resolve deductions and chargebacks. This includes initiating communication, uploading required documentation, and updating case statuses. By automating routine tasks, Bots enable suppliers to focus on more strategic aspects of deduction resolution, accelerating the overall process.
- Communication Automation: Bots can be programmed to facilitate communication between the Retail Portal and suppliers. This includes sending automated notifications, status updates, and reminders. Automated communication ensures that relevant stakeholders are promptly informed about any required changes or actions, reducing resolution delays.
- Document Management and Retrieval: Bots can assist in managing and retrieving documents within the Retail Portal. This is particularly useful for deduction resolution, where supporting documentation is crucial. Bots can quickly locate and organize relevant documents, improving the efficiency of the resolution process and ensuring that all necessary information is readily available.
- Task Prioritization and Routing: Bots can intelligently prioritize tasks and route them to the appropriate individuals or teams, especially if you use state-of-the-art accounts receivable automation. For example, if a deduction requires input from multiple departments, Bots can streamline the workflow by assigning each task to the relevant party. This prevents bottlenecks and ensures a smoother resolution process.
- Data Analysis and Reporting: Bots can perform data analysis tasks within the Retail Portal, generating reports and insights to inform strategic decision-making. This is beneficial for suppliers looking to identify trends, patterns, or areas for improvement in their interactions with the retailer, including deduction trends.
Also, vendor participation in The Retail Value Chain Foundation (RVCF) provides supplier panel discussions and high-value collaboration with retailers to streamline operations, prevent disputes and deductions, and create successful supplier relationships.
By leveraging automated Bots in the Retail Portal, suppliers can significantly reduce manual effort, enhance accuracy, and expedite various processes related to inventory management, order processing, and deduction resolution. This improves efficiency and allows suppliers to allocate their resources more strategically. Please contact us for information on how Carixa Portal Bots can help.