# What is supplier invoice management?
Supplier invoice management encompasses all processes for handling invoices from vendors/suppliers: (1) Supplier Onboarding - collecting W-9/W-8, bank details, payment terms, and invoice submission preferences; (2) Invoice Receipt - accepting invoices via email, portal, EDI, or mail; (3) Vendor Communication - addressing questions, disputes, and payment inquiries; (4) Performance Tracking - monitoring on-time delivery, invoice accuracy, quality; (5) Payment Processing - executing payments per agreed terms; (6) Relationship Management - maintaining good vendor relationships through timely, accurate payments; (7) Spend Analysis - analyzing spending patterns by supplier. Strong supplier invoice management includes: centralized vendor database, automated invoice capture from vendor-preferred channels, supplier self-service portal for invoice status, automated payment notifications, dispute resolution workflows, and supplier performance dashboards. Benefits include better vendor relationships, improved negotiating position, reduced inquiries, and optimized working capital.
## Key Takeaways
- Supplier invoice management encompasses all processes for handling invoices from vendors/suppliers: (1) Supplier Onboarding - collecting W-9/W-8, bank details, payment terms, and invoice submission preferences; (2) Invoice Receipt - accepting invoices via email, portal, EDI, or mail; (3) Vendor Communication - addressing questions, disputes, and payment inquiries; (4) Performance Tracking - monitoring on-time delivery, invoice accuracy, quality; (5) Payment Processing - executing payments per agreed terms; (6) Relationship Management - maintaining good vendor relationships through timely, accurate payments; (7) Spend Analysis - analyzing spending patterns by supplier.
- Strong supplier invoice management includes: centralized vendor database, automated invoice capture from vendor-preferred channels, supplier self-service portal for invoice status, automated payment notifications, dispute resolution workflows, and supplier performance dashboards.
- Benefits include better vendor relationships, improved negotiating position, reduced inquiries, and optimized working capital.
## Related Topics
- supplier invoice management
- vendor invoice
- supplier management
- vendor payment