Integrates with Passageways Invoice Management Application
WEST LAFAYETTE, IN, July 31st, 2009. Passageways, the leading provider of Portal Solutions for financial institutions, announced its newest offering: Vendor Management Application. Passageways also reports the great response from its client base on this new offering, with several customers signing up within the first 2 weeks, including Interra Credit Union, Alliance Credit Union, Arizona State Credit Union, Eli Lilly Federal Credit Union and Belco Community Credit Union.
The interest level for this new application is also evident by the more than 60 signups for free webinars organized by the Passageways team. For more information, visit our Case Studies page.
The application keeps track of all vendors in one secure location for any organization. Vendor Management Application provides an intuitive method to store vendors and vendor contacts in a simple, organized Rolodex. It allows for easy vendor due diligence by compliance and audit staff by creating and assigning custom risk categories and individual renewal dates to all vendors. This application gives an organization a one-stop solution to stay up on all of its vendors and related documents.
Like all Passageways applications, auditing is also made easy through the specialized auditing view to ensure a top-level view of all important contracts. Internal auditors and other employees will also utilize checklists for at-a-glance reports on due diligence to ensure vendor compliance. The application also promises to ensure streamlined review by external auditors, as mandated by the guidelines provided by the financial industry’s governing bodies.
Vendor Management is added to an already impressive list of applications taking advantage of the robust Passageways portal framework. This application has been built in cooperation with Passageways customers including Purdue Employees Federal Credit Union and several banks.
The Vendor Management Application can be integrated within the portal framework for all Passageways clients and will be offered as an optional modular application. This application is already being paired by Passageways clients with the Passageways Invoice Management Application. The Invoice Management Application allows customers to:
- Add and Route Invoices for Approval
- Track Invoices all through the payment process
- View payment information for paid invoices
- Allocate G/L’s and Accounting Centers to Invoices
- View Reports by G/L and Accounting Centers
- Upload the actual invoice and retrieve it at any time
“We are excited about these new offerings and already see great interest in integrating the Vendor Management aspect to the Invoice Management and Purchase Order Management applications we already provide,” says Manan Relia, Consulting Manager at Passageways. “These applications allow our clients to do a lot more on their portal infrastructure, eliminating the need to work with other vendors for such business needs and keeping back office processes consistent,” adds Relia.
Passageways specializes in providing corporate portal solutions for financial institutions, connecting their employees, directors, partners and vendors. Passageways solutions are used to streamline communications, increase collaboration and automate internal processes by replacing traditional intranet solutions. Passageway supports nearly 200 banks and credit unions portals including several dozen board portals and a number of industry wide community portals, making it a leader in collaboration solutions in the financial services industry.
Passageways success is built around the philosophy “Innovate. Connect. Grow”. That’s the quest for Passageways team and its’ customers. Passageways encourages a strong connection with their team to turn ideas into exciting new products and services. They’ve built internal processes to share ideas and best practices with customers allowing them to utilize Passageways solutions to their fullest potential. This is reflected in Passageways’ product development, project management process and implementations. In addition Passageways provides training and support programs, continuing education programs and PowWOW- their super fun and educational annual customer conference!
The Result: Increased Collaboration, Efficiency, and Profitability for all clients.