Retail Onboarding and Annual Requirements
You have signed a new retailer and now begin the difficult, expensive, and time-consuming effort of integrating their requirements into your business processes. Onboarding this new customer, and keeping them happy, demands timeliness and accuracy from groups across your organization which demands that these groups have real-time information and are held accountable. The manual systems you rely on today are slow and error-prone. Our Rivet™ Retailer Onboarding and Annual Requirements blueprint streamlines your processes by automating retailer onboarding tasks across every department.
What makes retailer onboarding so difficult?
Successful retail vendors typically have numerous customers and sign new customers frequently. Each of these retailers is unique, with its own processes and its own stated requirements. For your part, responsibility for onboarding new retailers, and complying with their onboarding process, is spread across your business. And activities supporting onboarding are supported by numerous systems, not all centralized (e.g., email and spreadsheets).
What do these difficulties cost your business?
The innate inefficiency and inaccuracy of the disparate systems you rely on for retailer onboarding and requirements management imposes significant time and labor costs. Your dependence on manual data entry and ad hoc communication represents a misappropriation of employee resources. Incomplete or erroneous data, and inattention to retailer requirements, subject you to financial exposure while jeopardizing your customer relationship. Less-than-complete integration with your retailer customers can lead to inefficiencies or even breakdowns in your customers' supply chain.
Rivet™ can automate your retailer onboarding process
Rivet is a Business Partner Management Solution that uses a combination of technology and professional services to automate previously manual and ad hoc business processes. It is a single platform that replaces email, spreadsheets, task management software, and the other technologies and manual processes you use today. Combined with any of our numerous Partner Management blueprints, Rivet can give you a made-to-measure automated solution to your business process management challenges.
The Rivet Retailer Onboarding and Requirements Management Blueprint
Running on top of Rivet, the Retailer Onboarding and Requirements Management blueprint shepherds your responses to each customer’s unique requests for onboarding and annual requirements. It incorporates your existing documents, data, and, where desired, data repositories and applications. It manages the assignment of tasks at each stage of the onboarding process and enforces accountability with expected completion dates. The blueprint can automatically collect customer data, removing the need for costly data entry at both ends of the supply chain. It automates deadline tracking and follow-up, as well as the redlining, review, and approval of documents. It automatically alerts appropriate personnel of erroneous, incomplete, or late tasks. Its customizable dashboards give you visibility into the status of processes, customer requirements, risk exposure, and the need for action.
The result is a machine-driven experience that supports the online completion, tracking, and verification of all onboarding documents, signatures, and approvals. It presents you and your customers with industry-specific tasks, data, supporting documentation, follow-up actions, and alerts. And its dashboards offer near-real-time status of onboarding processes.
Retailer Onboarding Blueprint ROI
Managing retailer onboarding and requirements with Rivet leads to significant labor savings through automation, typically two or more FTEs. It also dramatically reduces costly and time-consuming data errors. Rivet eliminates missteps, mistakes, and delays in the onboarding process, meaning that every new customer is brought on board correctly, annual changes are handled seamlessly, and you and your customer have the information required to sustain a profitable relationship. Finally, automation within and across organizations breaks down organizational silos, which means fewer bottlenecks and speedier resolution of issues.
