• Thursday, May 23, 2024
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Duplo unveils Vendor Management Portal to optimise supply chain

Duplo unveils Vendor Management Portal to optimise supply chain

Duplo, a Nigerian-based B2B fintech firm, has launched a Vendor Management Portal to help businesses optimise their supply chain management.

In the past two years, Duplo has pioneered solutions addressing different financial operation needs of businesses ranging from accounts payable and receivable to payments, the organisation said in a statement.

During this time, the Duplo team identified the challenges businesses face when managing multiple vendors – such as communication mishaps, requests for early payments, and misplaced invoices.

To address these challenges for businesses, Duplo launches the Vendor Management Portal.

“The Vendor Portal consolidates essential resources for both businesses and their suppliers into one efficient and centralized platform,” Yele Oyekola, chief executive officer of Duplo.

“Merchants can seamlessly onboard vendors and suppliers onto this portal to receive invoices from various sources and track payments via a unified dashboard.”

He added that vendors can streamline their invoicing processes and automate payment tracking, eliminating manual tasks.

The CEO stated that vendors will also gain access to early payments through Duplo’s invoice financing feature, receiving up to 70 percent of their payment upfront with zero collateral.

This feature, according to him, facilitates better cash flow management for both vendors and merchants.

“We are excited to introduce our vendor portal, designed to revolutionise how businesses manage their supplier relationships,” he said.

“With this innovative solution, we aim to streamline transactions, improve communication, and ultimately drive success for our customers and their suppliers.”

Through Duplo’s vendor portal, users can complete seamless transactions as it streamlines transactions between businesses and suppliers, saving time and resources.

Users can manage invoicing, collections, and reconciliation processes effortlessly within the platform.

Also, it allows users to access instant financing with zero collateral as vendors take advantage of convenient financing options tailored to their unique needs.

The vendor portal builds better vendor relationships by providing clear communication channels and efficient collaboration tools, strengthening relationships between businesses and suppliers.