Introduction/Purpose:

Vendor registration request in a procurement system refers to the process by which a company or organization invites and collects information from potential vendors or suppliers who are interested in doing business with them. It is an essential step in establishing a formal relationship between the buyer and the seller in the procurement process.

The vendor registration request typically involves the submission of detailed information by the vendor, including company name, contact details, business address, financial information, legal documentation, product or service offerings, and any other relevant credentials. The procurement system may have a specific form or online Vendor portal where vendors can enter this information.

After a vendor submits a request through the vendor portal, it will be forwarded to the admin user for validation. The admin user can then approve or decline the registration request, providing a reason for the decline. The vendor will receive a notification indicating that the request has been declined along with the specific reason. The vendor can then resubmit the request if desired. Additionally, the admin user has the option to conditionally approve the request, allowing the vendor a specific time period to fulfill the requirements mentioned during the approval process.

After the vendor request is accepted by the admin user, there are additional details that need to be filled in the vendor master from the procurement system. These details include the parent general ledger, date of incorporation, maximum advance allowed, and preferred bank. Once these details are filled in the vendor/supplier master in the basic information section, the vendor information will be synchronized with the FINAS system. The FINAS vendor code will then be stored in the vendor/supplier master in the procurement system. 

Dependency:

The dependency of a vendor registration request in a vendor portal typically involves several steps and processes. Here is a general overview of the dependency of a vendor registration request:

• Registration Form: The vendor portal provides a registration form that vendors need to fill out with their relevant details. This form usually includes information such as company name, address, contact information, tax identification number, product or service offerings, and any certifications or qualifications.

• Verification Process:  Once the registration form is submitted, the vendor portal initiates a verification process to ensure the provided information is accurate and valid. This process may involve verifying the vendor’s business registration, conducting background checks, confirming the authenticity of the provided documentation, and validating any certifications or qualifications.

It’s important to note that the specific steps and processes may vary depending on the organization’s policies, industry, and the functionalities provided by the vendor portal.

How To Navigate:

The navigation to record a Vendor Registration Request in a procurement system typically involves the following steps:

• Click on the main navigation icon: The main navigation icon may be located in the top right corner of the screen. Clicking on this icon will open the navigation menu, which typically includes links to various sections of the procurement system.

• Click on the Master section: The Master section is located under the left section of the screen clicking on this section will display a list of Masters related to procuring.

• Find the Vendor section: The Vendor section is located in the list of Masters under the Master section. Clicking on this section will display a list of Master related to Vendor.

• Click on the Vendor Registration Request link: The Vendor Registration Request link is located under the Vendor section, after clicking on this link you can navigate to Vendor Registration Request in the listing and from that you can easily upload new transactions into the system.

Listing:

In addition to the basic functionality mentioned, the listing of vendor registration requests in a procurement system may include the following features:

• Export All Records: Users have the option to export the entire vendor registration request list to a different file format like CSV,XLS, PDF

• Refresh All Records: Users can refresh the listing to ensure that it displays the most up-to-date information. This feature is particularly useful when there are multiple users accessing and updating the procurement system simultaneously.

• Quick Search:  A search bar is available to quickly search for specific vendor registration requests based on keywords or specific criteria. This allows users to locate a particular request without having to manually scroll through the entire list.

• Filter: Users can apply filters to the listing based on various conditions. For example, they can filter requests by status (pending, approved, rejected), or any other relevant parameters. This helps users narrow down the list and focus on specific subsets of vendor registration requests.

• View Record in Card View: The vendor registration requests may be displayed in a card view format, where each request is represented by a card. The card typically includes key details such as the vendor’s name, request code number, form of business, currency, relationship manager, contact information (mobile, email), email verification status, and approval status. This card-based view provides a concise summary of each request and allows users to quickly scan through the information.

• Activity Log: The procurement system may maintain an activity log for each vendor registration request. This log records all the actions taken on the request, such as updates, approvals, rejections, and any other relevant activities. Users can access the activity log to track the history and progress of each request.

• Mark as Junk: In some cases, vendors may submit irrelevant or spam registration requests. To manage such requests, the procurement system may include an option to mark a request as junk. This helps filter out unwanted or irrelevant registrations from the main listing.

These features provide users with a comprehensive and organized view of vendor registration requests, enabling effective management and decision-making within the procurement system.

Recording & Update:

The process of recording and updating the vendor registration request in a procurement system involves several steps. Here’s an overview of how this process typically works:

• Vendor Registration from Portal: The vendor initiates the registration process by accessing the vendor portal and providing the required details through a registration form. This information may include company name, contact information, business address, tax identification number, product or service offerings, and any certifications or qualifications.

• Validation and Approval: Upon submission of the registration request, a user within the procurement system, typically a procurement officer or administrator, reviews the vendor’s details for validation. The user verifies the provided information and checks for any discrepancies. If the vendor’s details are valid and meet the necessary criteria, the user approves the registration request. If any discrepancies are found, the user declines the request and notifies the vendor accordingly.

• Notification and Resubmission: If the vendor’s request is declined, the vendor receives a notification explaining the reason for the rejection. The notification may include instructions for the vendor to rectify the discrepancies and resubmit the registration request if they wish to proceed.

• Addition of Missing Details: Once the vendor’s registration request is approved, a user with access to the FINAS system, which is typically the financial accounting system, adds any missing additional details to the vendor master record. These details may include financial information, payment terms, banking details, and any other relevant information required for financial transactions.

• Sync with FINAS System: The updated vendor master record is synchronized with the FINAS system, ensuring that the vendor’s information is accurately reflected in the financial accounting system. This synchronization enables seamless financial processes such as invoice generation, payment processing, and reporting.

• The email with Login Credentials: After the vendor master record is synchronized with the FINAS system, the vendor receives an email containing login credentials for the vendor portal. These credentials allow the vendor to access the portal and perform various activities such as submitting invoices, updating contact information, viewing purchase orders, and participating in procurement processes.

The recording and updating of the vendor registration request in the procurement system ensure accurate vendor data, streamlined financial processes, and efficient collaboration between the vendor and the organization using the procurement system.

Key Notes Vendor Registration Request:

• After the login credentials are shared with the vendor for the vendor portal, the vendor can submit their response to the invited proposal/quotation. 
• Additionally, they can perform other activities related to the portal.