It is critical to start your supply chain finance program on the right foot and position your program for success.
The Supplier Enablement Portal is an Artificial Intelligence-driven tool that transforms the supplier onboarding process with digitization, automation and data-driven insights.
There are four key components to the Supplier Enablement Portal:
One, an online portal for you to upload your spend files:
After you have prepared your spend files, simply click on the secure link to the buyer portal provided by Bank of America and upload your spend files.
Two, an advanced data analytics software powered by Artificial Intelligence:
The software analyzes your spend file and cross references the data against industry and bank intelligence reports, generating richer, more enhanced data and insights.
The data is then used to forecast potential supplier adoption and drive smarter and more precise supplier strategies. It can also identify additional opportunities with industry-specific best practices to help you optimize your supply chain.
Three, personalized microsites for your suppliers:
The microsites provide your suppliers with important information on your specific program, including a simple calculator to gauge associated financial benefits.
Four, real-time supplier status reports:
This functionality enables your Bank of America Program Manager to update you with supplier status and spend information on demand for greater visibility into the ongoing progress of your Supply Chain Finance program. At Bank of America, your Program Manager is your main point-of-contact for you and your suppliers throughout
the program lifecycle. The team is responsible for working hand-in-hand with you to devise supplier strategies and drive supplier adoption harnessing the enriched data and insights from the Supplier Enablement Portal.
In summary, Bank of America’s Supplier Enablement Portal is a more efficient, transparent and intelligent way to manage the supplier onboarding process. It enables:
· Data-driven analytics to drive smarter and more precise supplier segmentation and supplier strategies
· Powerful insights on your suppliers to help forecast program adoption
· Improved program reporting capabilities
· Ultimately speed to working capital optimization
Best of all, there is no need for technical integration, additional software or investment on your side.
Bank of America – a pioneer and innovator in supply chain finance.
Leading the way in the next generation of supply chain finance.
We’re here to make doing business easier.
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