SayPro Provide Monthly Reports to Vendors Detailing Order Volumes, Invoicing, and Payment Status

SayPro Vendor Coordination Provide monthly reports to vendors detailing order volumes, invoicing, and payment status from SayPro Monthly January SCMR-17 SayPro Monthly Order Management: Track and manage orders, invoices, and receipts by SayPro Online Marketplace Office under SayPro Marketing Royalty SCMR

Objective:

The purpose of this process is to ensure that vendors receive detailed, accurate, and timely reports on their order volumes, invoicing, and payment status. This helps foster transparency, strengthen vendor relationships, and streamline communication between SayPro and its vendors. These reports should help vendors monitor their performance, improve forecasting, and resolve any discrepancies related to payments or invoicing.

Key Information and Targets:

1. Order Volume Reporting:

• Target: Provide vendors with clear and accurate details about the number of orders they have fulfilled within a given month, including quantities, products sold, and customer information, ensuring that 100% of orders are correctly tracked and reported.Details:
  • Order Volume Overview:
    • The monthly report should include a breakdown of all orders fulfilled by the vendor, including:
      • Total number of orders received for their products.
      • Product-wise breakdown: Quantity of each product sold.
      • Order status: Whether the orders are processed, shipped, or pending.
      • Customer locations (if relevant for the vendor’s planning).
  • Report Frequency:
    • Monthly reports should be provided to the vendor no later than the 5th business day of the following month to ensure the vendor has enough time to review and respond.
  • Data Sources:
    • The data should be pulled directly from the Order Management System (OMS) to ensure accuracy and consistency.
  Tools and Systems Used:
  • Order Management System (OMS): For tracking and generating order volumes.
  • Vendor Portal: A secure online platform where reports can be accessed by vendors.
  Performance Metrics:
  • Order Volume Reporting Timeliness: Ensure 100% of monthly reports are delivered to vendors on time (target: by the 5th business day).
  • Order Tracking Accuracy: Ensure 99% accuracy in the reported order volumes, quantities, and product details.

2. Invoice Status Reporting:

• Target: Provide vendors with detailed invoicing information, including the status of all invoices, whether they have been paid or are pending, and any discrepancies that may have occurred. Ensure 100% accuracy in invoicing status reporting.Details:
  • Invoice Breakdown:
    • Each report should include:
      • Invoice number and the corresponding order number.
      • Invoice amount, including any taxes, shipping costs, and discounts applied.
      • Payment status: Whether the invoice has been paid, is pending, or is overdue.
      • Invoice due dates: To highlight any upcoming payments or overdue invoices.
  • Discrepancies Reporting:
    • Identify and explain any discrepancies between the invoice amount and the order details, such as errors in pricing or missing payments.
  • Data Sources:
    • The report should pull data from the Accounts Payable System and Order Management System (OMS) to ensure full reconciliation between order and invoicing data.
  Tools and Systems Used:
  • Accounts Payable System: To track invoicing and payment statuses.
  • Excel/Reporting Tools: To compile and format the invoice status information into easy-to-read reports.
  Performance Metrics:
  • Invoice Status Reporting Accuracy: Ensure 100% accuracy in invoice data and payment status.
  • Discrepancy Resolution: Ensure that any discrepancies reported to vendors are addressed and resolved within 48 hours.

3. Payment Status Reporting:

• Target: Provide vendors with an accurate overview of their payments, including details on when they will receive payment and if there are any pending issues. Aim for 100% clarity in payment status communication.Details:
  • Payment Overview:
    • Include in the report:
      • Total payments made during the month.
      • Payment dates, with reference to each specific invoice paid.
      • Payment method (e.g., wire transfer, check, etc.).
      • Outstanding payment amounts or any delays.
  • Pending Payments and Overdue Invoices:
    • If there are overdue payments or pending invoices, the report should highlight these items and specify the expected payment date or the reason for the delay.
  • Reconciliation with Vendor Records:
    • Ensure that the payment information aligns with the vendor’s own records and that there is no discrepancy between what is reported and what the vendor expects to receive.
  Tools and Systems Used:
  • Accounts Payable System: To generate payment details.
  • Bank Statement Integration: For payment method verification and accuracy.
  Performance Metrics:
  • Payment Timeliness: Ensure 100% of payments are reported on time in the monthly vendor payment status report.
  • Payment Accuracy: Ensure 100% accuracy in reporting the payment method and amounts.

4. Report Delivery and Access:

• Target: Ensure that the monthly reports are delivered to all vendors in a timely manner and that they are easily accessible for review and reference. Aim for 100% delivery accuracy and accessibility.Details:
  • Report Delivery Methods:
    • Reports should be emailed directly to the vendor contact person.
    • Provide vendors with access to a secure online portal where they can download their reports at any time.
  • Report Format:
    • The reports should be delivered in Excel or PDF format, ensuring that they are easily readable and can be used for further analysis.
  • Feedback Mechanism:
    • Include a feedback section within the report or a contact person in case the vendor has any questions or discrepancies regarding the provided data.
  Tools and Systems Used:
  • Email & Secure Vendor Portal: For report distribution.
  • Cloud-based Storage (e.g., Google Drive, Dropbox): For storing and sharing reports with vendors.
  Performance Metrics:
  • Report Delivery Success Rate: Ensure 100% delivery rate of reports to vendors each month.
  • Vendor Access Rate: Ensure 100% of vendors have access to and can download the reports from the vendor portal.

5. Vendor Feedback and Support:

• Target: Ensure that vendors can easily provide feedback on the reports and get any questions or issues addressed within a timely manner.Details:
  • Feedback Collection:
    • After the reports are sent, send a follow-up email to vendors asking for feedback on the clarity, usefulness, and accuracy of the reports.
  • Issue Resolution:
    • Vendors should be encouraged to contact the support team if there are any discrepancies, questions, or feedback about the reports. Aim to resolve any issues within 48 hours.
  Tools and Systems Used:
  • CRM System or Email: To collect feedback and track support tickets.
  • Customer Support System: To log and address vendor issues regarding reports.
  Performance Metrics:
  • Vendor Satisfaction Rate: Ensure that 90% of vendors report satisfaction with the monthly reports.
  • Issue Resolution Time: Ensure that 95% of issues raised by vendors regarding reports are resolved within 48 hours.

Conclusion:

The provision of monthly reports to vendors detailing order volumes, invoicing, and payment status is crucial for maintaining transparency, improving vendor relationships, and ensuring smooth payment processing. By ensuring accurate reporting, timely delivery, and effective communication, SayPro can foster strong partnerships with vendors and help them make informed business decisions. Regular feedback and continuous process improvements will also contribute to the long-term success of the vendor coordination efforts.