| Global trade requires global communication and | | | | where key data is stored. Software-as-a-service |
| automation. In today's complex supply chains, it is | | | | solutions eliminate technology barriers that once |
| important for manufacturers, vendors and everyone | | | | hindered small overseas factories. Today, just a |
| in between to be able to communicate quickly and | | | | web-browser is needed to access purchase orders, |
| effectively. This is difficult when companies are based | | | | amendments. invoices, payments, and even trade |
| in many different countries and time zones. New | | | | financing. When documents and workflows are |
| strides in software-as-a-service platforms and supply | | | | automated on a single platform, buyer, seller and |
| chain management services are breaking down the | | | | factory are all linked, breaking down barriers that |
| communication barriers by delivering automated | | | | previously prolonged the transaction. Picture accounts |
| software. As a result, the world of global trade just | | | | payable automation (AP automation) extended all the |
| got a little more user-friendly. | | | | way down to the factory floor. An automation |
| Automation | | | | purchase order serves as the catalyst for visibility |
| Much of the process can now be automated. Use of | | | | and communication as the product moves through its |
| paper invoices eats up valuable time and resources, | | | | lifecycle. |
| for both the buyer and supplier. Manually keying in | | | | Communication |
| data, shuffling papers to sort out amendments, and | | | | Location and time zone differences were formerly an |
| manually matching purchase orders to invoices are | | | | issue in supply chain management. With |
| inefficient and they lead to errors. Paper in the supply | | | | software-as-a-service platforms, this is no longer an |
| chain creates visibility gaps at every steps of the | | | | issue. Some supply chain management companies |
| process, all the way down to the creation of shipping | | | | offer support teams in other countries that eliminate |
| labels at the factory floor. Errors or | | | | the need to add staff and resources overseas. |
| miscommunication can delay a shipment to a retail | | | | These local services ensure suppliers and factories |
| store so long that the customer faces stock outs | | | | are up and running on the system. |
| and empty shelves. | | | | Shifting market conditions and consumer buying |
| Online Platforms | | | | patterns make it more difficult than ever to align |
| Today, online supply chain platforms are available to | | | | supply and demand. Consumers are picky and they |
| enable electronic documents and correspondence to | | | | know what they want, when they want it. Supply |
| be sent to different parties involved quickly and | | | | chain automation is vital to the success of |
| efficiently. This saves time and, of course, money. | | | | merchandising and retail, as businesses strive to meet |
| For example, a supplier manufacturing widgets in | | | | consumer demand. When processes and documents |
| China can find out important contract and shipping | | | | are automated, retailers have agility to react quickly |
| information by simply clicking on to the platform | | | | and easily. |