Vendor payments are one of the most important financial transactions and are an integral part of operations for a business. The final step in the procure-to-pay (P2P) cycle is carrying out vendor payments.
Managing vendor payments efficiently, systematically and punctually helps build a positive relationship with an organisation’s suppliers. Also, it helps in the smooth functioning of an organisation and ensures that a business owner does not have financial obligations for an extended period.
However, in many cases, businesses complain that managing multiple invoices from multiple vendors is cumbersome. That’s where the RazorpayX Vendor Portal comes into play.
How is RazorpayX’s Vendor Portal different?
RazorpayX’s Vendor Portal is a vendor-facing platform that enables vendors to submit bank details, invoices, and track invoices. It also offers one dashboard for all vendors.
This portal enables the vendor payment merchants to send a vendor-facing portal request to concerned vendors. After that, the vendors can upload their invoices and track payments.
Vendors can log in to x.razorpay.com/vendor-portal/ via which they can submit the invoices. Afterwards, merchants can view these invoices on the Vendor Payments dashboard, accept them and pay against them effortlessly.
How is the Vendor Portal Helpful?
For businesses:
- Easily source invoices from multiple vendors
- Remove effort to retrieve invoice details
- Hassle-free vendor relations
- Schedule payments, receive payment reminders, make partial payments
- Make bulk payments
- Autopay TDS
- Auto-reconcile with accounting
For vendors
- Receive Payments on time
- Track payments in real-time seamlessly
- Reconcile with the bank statement seamlessly
- Generate payment requests at ease
- Get paid faster and improve DSO (Days Sales Outstanding)
With all this, the Vendor Portal ensures transparency across merchants and vendors. Click here to see the steps to get started.
Switch to RazorpayX Vendor Payments today
Vendor payments can be a tedious and time-consuming task with manual invoicing, physical tracking, data entry, keeping up with late payments, statutory payments, and reconciliation of invoices. And with a business growing, all this becomes increasingly challenging to manage.
But if you use the RazorpayX Vendor Portal, you need not fret about managing all of these. So, switch to a simplified, streamlined, and automated vendor payment experience with RazorpayX.
Join 9 out of 10 founders considering switching to vendor payments with RazorpayX.
