Is your goal to help keep your transactions moving seamlessly? If so, then effective communication with your vendors and suppliers are essential. With dispute resolution you can easily manage and view all of your supplier communications in one location. This can help you to eliminate paper processing to handle disputes and resolve problems easily and quickly.
Dispute resolution enables both the company and its vendors to have clear communication and avoid costly confusion. Unsure whether or not dispute resolution is right for you? If so, you should consider some of the benefits dispute resolution has to offer.
What Is Dispute Resolution?
Dispute resolution allows you to handle issues among yourselves rather than having to get third-party individuals involved. As a result, you can easily save time, money and stress that you would otherwise have to spend trying to settle the issue at hand.
Even if you still aren’t convinced you need this, it is a good idea to learn about some of the benefits that this has to offer. When you are informed, you will know if the option is best for you.
Benefits Offered by Opting for Dispute Resolution
When you are able to establish supplier submission validation rules prior to a supplier sending you a dispute, it will help to eliminate unacceptable requests and the need for more work. Some of the specific benefits offered by dispute resolution services include the following:
One-Stop, Secured and Centralized Portal for All Types of Disputes
With dispute resolution software, you can have your vendors log in to a centralized portal, then look up any invoices they have questions about — both unpaid and paid ones. This allows the vendor to have their questions answered without ever having to call a buyer.
Reduce the Processing Costs
With digital dispute resolution services, you don’t have to worry about dealing with endless documents. You can also avoid having to scan anything to have a digital copy of it.
Once your have viewed your invoice chargebacks online, then the supplier will be able to simply click a button in order to submit their proposed dispute. There are also validation rules, which you can customize to ensure that the supplier is sending all of the required information, eliminating the need for reworking the dispute being filed.
Improve Your Supplier Relationships
The majority of suppliers expect you to respond to them in a timely manner after an invoice has been disputed. In fact, there are some that even expect immediate feedback — whether it be good or bad.
With dispute resolution software, you can quickly and completely respond to disputes that have been filed, keeping your suppliers happy and informed. This will lead to better relations now and in the future.
Why Is Dispute Resolution the Best Option?
With dispute resolution methods in place, you will be able to save time, money and frustration. You won’t have to worry about finding or keeping up with endless documents or taking steps to ensure you vendor has the information necessary to resolve the issue.
However, keep in mind, not all dispute resolution software is created equal. If you don’t take your time to find the right company to help you along the way, you may not be able to reap all the benefits that have been highlighted here. Make sure to keep this in mind when you are considering dispute resolution as an option for settling issues among you and your vendors/suppliers. In the long run, this is the method that will help you save time and money.