Announcing the new Supplier Information Module in Buy-to-Pay
VPF is launching a new module within Buy-to-Pay (B2P) called Supplier Information Management (SIM). The new module provides suppliers who work with MIT’s DLCs the opportunity to update their own information, including payment preferences, mandatory tax information, and their status as a small, diverse, or sustainable business. The improvements to B2P will help onboard new suppliers to MIT accurately and efficiently while reducing the amount of time DLC administrators spend coordinating the process. The new module and process change goes live November 20, 2021.
This change to Buy-to-Pay is part of a VPF-wide effort to strengthen financial systems and better track data on suppliers that do business with MIT. While the old process asked DLC purchasers to work with suppliers to provide VPF with contact and W-9 tax information, this new process will have the supplier directly upload that information into the B2P system. DLC financial staff will also be able to view where the suppliers are in the onboarding process in real time – providing more transparency intro the process. View the video below to see a demonstration of the new supplier onboarding process. For detailed step-by-step instructions, review the Request a New Supplier page.
By providing suppliers direct control of their information, VPF anticipates a reduction in the time spent onboarding new suppliers and in data entry errors. Questions about the new SIM module? Please contact VPF Accounts Payable.