{"id":14639,"date":"2024-08-02T13:38:37","date_gmt":"2024-08-02T13:38:37","guid":{"rendered":"https:\/\/trustpair.com\/blog\/new-trustpair-and-jaggaer-white-paper-the-ultimate-guide-to-supplier-onboarding\/"},"modified":"2025-03-25T10:50:40","modified_gmt":"2025-03-25T10:50:40","slug":"new-trustpair-and-jaggaer-white-paper-the-ultimate-guide-to-supplier-onboarding","status":"publish","type":"post","link":"https:\/\/trustpair.com\/gb\/blog\/new-trustpair-and-jaggaer-white-paper-the-ultimate-guide-to-supplier-onboarding\/","title":{"rendered":"New Trustpair and JAGGAER White Paper: the Ultimate Guide To Supplier Onboarding"},"content":{"rendered":"<p>In today&#8217;s complex supply chain environment, <strong>mastering vendor onboarding is critical.<\/strong> Vendor onboarding is a stepping stone in the Source-To-Pay process. A mismanaged onboarding can put the entire payment chain at risk of <a href=\"https:\/\/trustpair.com\/gb\/vendor-fraud-prevention\/\">vendor fraud<\/a> or mistakes.<\/p>\n<p>JAGGAER and Trustpair are happy to share their latest white paper: Supplier Risk, The Modern Guide To Secure Vendor Onboarding.<\/p>\n<p><!--HubSpot Call-to-Action Code --><span id=\"hs-cta-wrapper-88b50917-262d-4c09-8b55-d106aa5dfdf8\" class=\"hs-cta-wrapper\"><span id=\"hs-cta-88b50917-262d-4c09-8b55-d106aa5dfdf8\" class=\"hs-cta-node hs-cta-88b50917-262d-4c09-8b55-d106aa5dfdf8\"><!-- [if lte IE 8]>\n\n\n<div id=\"hs-cta-ie-element\"><\/div>\n\n\n<![endif]--><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/5278241\/88b50917-262d-4c09-8b55-d106aa5dfdf8\"><img decoding=\"async\" id=\"hs-cta-img-88b50917-262d-4c09-8b55-d106aa5dfdf8\" class=\"hs-cta-img\" style=\"border-width: 0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/5278241\/88b50917-262d-4c09-8b55-d106aa5dfdf8.png\" alt=\"New call-to-action\" \/><\/a><\/span><script charset=\"utf-8\" src=\"https:\/\/js.hscta.net\/cta\/current.js\"><\/script><script type=\"text\/javascript\"> hbspt.cta.load(5278241, '88b50917-262d-4c09-8b55-d106aa5dfdf8', {\"useNewLoader\":\"true\",\"region\":\"na1\"}); <\/script><\/span><!-- end HubSpot Call-to-Action Code --><\/p>\n<h2>Navigating Supplier Risks in a Globalized Market<\/h2>\n<p>Businesses face increased supplier risks due to <strong>complex global supply chains and evolving regulatory environments.<\/strong> This was very visible during the COVID-19 pandemic. Disruptions in one region had a global impact on production and growth.<\/p>\n<p><a href=\"https:\/\/trustpair.com\/gb\/blog\/what-are-the-benefits-of-digital-transformation\/\">Digitalization is beneficial for businesses<\/a>\u00a0but introduces cyber risks, and geopolitical instability can lead to significant supply chain challenges. Workforce volatility also adds to the complexity of supplier management.<\/p>\n<p>Businesses now face seven key supplier risks: financial instability, regulatory non-compliance, cybersecurity threats, quality inconsistencies, geopolitical disruptions, ESG (Environmental, Social, Governance) shortcomings, and the viral nature of social media which can amplify minor issues into major crises.<\/p>\n<p>In this context, supplier onboarding is more critical than ever.<\/p>\n<h2>Effective Supplier Onboarding: the Key to a Reliable Source-To-Pay Process<\/h2>\n<p>Effective supplier onboarding is critical in the Source-to-Pay (S2P) process. It helps <strong>prevent fraud, data inaccuracies, and regulatory violations<\/strong>. On top of that, it\u2019s the occasion to test the budding supplier relationship and set the stage for future interactions.<\/p>\n<p>The main steps involve gathering operational and compliance information, as well as controlling bank account information. Establishing clear KPIs and streamlining requests by importance ensures a smooth start and paves the way for open communication and collaboration.<\/p>\n<p>By defining specific expectations and creating efficient approval workflows, businesses can strengthen their supplier relationships and ensure a balance between thoroughness and efficiency in the onboarding process.<\/p>\n<p>In the end, it\u2019s all about striking a balance between asking too much or too little.<\/p>\n<h2>Streamlining Supplier Risk Management with Automation and AI<\/h2>\n<p>Automation and AI are revolutionizing vendor onboarding &#8211; and <a href=\"https:\/\/trustpair.com\/gb\/blog\/risk-management-definition-steps-and-best-practices\/\">risk management<\/a> overall &#8211; by securing the entire Source-to-Pay (S2P) cycle.<\/p>\n<p>Adopting supplier management platforms that automate tasks like data validation and performance tracking is efficient and helps avoid fraud or mistakes. These solutions offer real-time alerts, reduce manual tasks, and increase the time for strategic missions. Throughout the S2P journey, automation ensures traceability of actions and data security.<\/p>\n<p>Trustpair and JAGGAER\u2019s integration facilitates supplier onboarding by <strong>automating <a href=\"https:\/\/trustpair.com\/gb\/automated-account-validation\/\">account validation checks<\/a> during the onboarding phase<\/strong>. It also ensures data security throughout the entire payment chain, thanks to ongoing vendor data audits.<\/p>\n<p>Do you want to streamline and secure your vendor onboarding process? <a href=\"https:\/\/trustpair.com\/gb\/demo-5\/\">Request a demo!<\/a><\/p>\n<p><!--HubSpot Call-to-Action Code --><span id=\"hs-cta-wrapper-f6e13c4c-1fff-4855-95b0-42a38b8c9acd\" class=\"hs-cta-wrapper\"><span id=\"hs-cta-f6e13c4c-1fff-4855-95b0-42a38b8c9acd\" class=\"hs-cta-node hs-cta-f6e13c4c-1fff-4855-95b0-42a38b8c9acd\"><!-- [if lte IE 8]>\n\n\n<div id=\"hs-cta-ie-element\"><\/div>\n\n\n<![endif]--><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/5278241\/f6e13c4c-1fff-4855-95b0-42a38b8c9acd\"><img decoding=\"async\" id=\"hs-cta-img-f6e13c4c-1fff-4855-95b0-42a38b8c9acd\" class=\"hs-cta-img\" style=\"border-width: 0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/5278241\/f6e13c4c-1fff-4855-95b0-42a38b8c9acd.png\" alt=\"New call-to-action\" \/><\/a><\/span><script charset=\"utf-8\" src=\"https:\/\/js.hscta.net\/cta\/current.js\"><\/script><script type=\"text\/javascript\"> hbspt.cta.load(5278241, 'f6e13c4c-1fff-4855-95b0-42a38b8c9acd', {\"useNewLoader\":\"true\",\"region\":\"na1\"}); <\/script><\/span><!-- end HubSpot Call-to-Action Code --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In today&#8217;s complex supply chain environment, mastering vendor onboarding is critical. Vendor onboarding is a stepping stone in the Source-To-Pay process. A mismanaged onboarding can put the entire payment chain at risk of vendor fraud or mistakes. JAGGAER and Trustpair are happy to share their latest white paper: Supplier Risk, The Modern Guide To Secure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14640,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117],"tags":[],"class_list":["post-14639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fraud-protection-gb"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trustpair and JAGGAER white paper : supplier onboarding tips - Trustpair<\/title>\n<meta name=\"description\" content=\"Vendor onboarding is a critical step for businesses - buyers and suppliers alike. 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