How Independence Blue Cross' Early Payment Program Was Built on Accurate Supplier Data
Independence Blue Cross was looking for ways to optimize cash flow and to begin offering early payments to suppliers for a discount on their invoice. Talking to companies that provide early payment programs, they quickly learned that the success of these programs is heavily dependent on clean and complete vendor master data. However, Independence Blue Cross' vendor master data was not clean and complete. The supplier onboarding process was paper based which resulted in incomplete and inaccurate data.
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Independence Blue Cross was looking for ways to optimize cash flow and to begin offering early payments to suppliers for a discount on their invoice. Talking to companies that provide early payment programs, they quickly learned that the success of these programs is heavily dependent on clean and complete vendor master data. However, Independence Blue Cross' vendor master data was not clean and complete. The supplier onboarding process was paper based which resulted in incomplete and inaccurate data.