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Vendor management

Streamline vendor management and payment requests with automation

Manage vendor relations with ease

Organizations of every size encounter hundreds to thousands of vendors on a regular basis. A high volume of vendors can often make the management of each vendor as well as payment processing difficult to track. Poor vendor management and untimely payments can result in unreconciled payments and loose financial controls, which can produce financial risk for any business. Streamlining and automating vendor management and payments can eliminate wasted administrative time and speed up financial processes, ultimately reducing operational costs and saving money.

Capabilities Used
Reconcile payments quickly
Ensure payment deadlines are met by automating notifications and deadline reminders, and escalate payments if they are high priority or rush delivery is needed.
Ensure compliance
Provide a clear audit trail on each payment that can streamline and support financial reporting and auditing.
Save time with data integration
If multiple records exist, users can select and validate which vendor information is correct. Record updates can be synced back to ERP systems to ensure data is consistent across platforms.
Improve financial control and visibility

Our vendor payments system provides organizations a simple tool to help finance departments make payments to vendors as well as onboard and register any new vendors the company is encountering for the first time. The solution can also automatically deactivate vendors in the system along with a final payment, ensuring vendor records are updated accurately.

See the vendor management process in action

Learn how the K2 Software solution helps you automate management of thousands of vendors, payments, and documentation to reduce your financial risk.

Automatically review and approve
payment requests

Using a Nintex K2 SmartForm, employees can submit payment request information and automatically route to the correct approver to review. Once all the necessary steps are in place, the finance department is notified to make the payment.

An automation solution for every industry

No matter your industry or business role, the Nintex Process Platform gives your team the tools - and time - to get your best work done.

Request a live demo
See how you can manage, automate and optimize your business processes today ‐ get a demo from one of our experts.
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