itim provides EDI services and a number of supplier collaboration portals to allow retailers to extend their business opportunities, through increasing digital supplier engagement.
Benefits to retailers
Essentially our objectives is to help Retailers as follows
To enable retailers to become ‘marketplaces’.
To ensure all engagement with suppliers is managed electronically using ‘structured documents’ and ‘structured data’. Moving away from email and PDF only communications. We believe this will increase efficiency and effectiveness.
We want Suppliers to do more of the work on behalf of Retailers. Like providing product information, supporting drop-ship capabilities and doing where appropriate ‘vendor managed inventory’.
We want to help Retailers to be able to do new product launches faster, including taking sales ahead of stock.
We want to allow retailers to drive sales with minimum stock investments – for example using consignment stock models with suppliers.
We can allow suppliers to set up promotions.
Benefits to Suppliers
We think there are also benefits to Suppliers in using our collaboration Portals
It will allow suppliers to build/upload product catalogues with rich product information to send to retailers – speeding up routes to market.
It will allow suppliers to digitally upload invoices.
Suppliers can send quotes and receive and view Purchase Orders – as they are raised.
Suppliers can see matched invoices and will be able to get access easily to Supply chain finance through invoice discounting.
The payments hub will allow overseas suppliers to get funds transfers from retailers at much lower costs.
Suppliers will be able to offer drop-ship services.
Suppliers will be able to offer consignment stock, and the portals will allow them to do vendor managed inventory.
Here are the portals we provide
This allows retailers and suppliers to share and exchange Quotes, Purchase Orders, Delivery Notices, Invoices – by entering them through a portal as opposed to using EDI services.
If you want to become a market place and sell products online that your suppliers provide, one of the hindrances to this process is the ability to capture rich product information quickly and easily. The Data hub allows suppliers to upload a data catalogue and allow any retailers to download product details and digital assets very easily.
If a retailer uses Itim’s invoice matching product Didos, the Suppliers are able to see the status of their invoices, both for raising and tracking queries.
This allows suppliers to provide ‘consignment stock’ to retailers and allows them to manage stock within a retailers presence through a portal. Essentially this portal facilitates for the supplier a ‘vendor managed inventory’ model.
This allows retailers to optimise their supplier payments process. Using innovative Block Chain technology, Itim offers advanced invoice matching, using online supplier portals and cheaper FX transfer mechanisms to considerably reduce transfer charges (particularly incurred by overseas suppliers).
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