Strategic Sourcing engagement
The Strategic Sourcing organization at Voya is primarily responsible for executing competitive bidding (RFx) and negotiating contracts for the enterprise. Voya will start leveraging the Voya Supplier Portal (powered by Oracle Cloud) for RFx activity. You should expect to receive and respond to RFx requests online going forward. Suppliers refusing to participate online may be disqualified in being awarded Voya business.
Voya expects all suppliers to begin contracting activities starting with Voya pre-approved contract templates. If there is interest in contracting for goods and services, a member of Voya's Strategic Sourcing department will contact you with a Voya approved contract to review. Contracting activity will be the one area in the Source to Pay lifecycle where Voya Supplier Portal is not leveraged.
The Voya Supplier Portal (powered by Oracle Cloud) is an intuitive browser-based, supplier self-service solution that brings a holistic approach to supplier management by removing communication barriers between Voya and Voya suppliers.
With the Voya Supplier Portal, suppliers gain access to a secure, integrated work area that provides full visibility to transactions, offers closed loop collaboration, and enables electronic invoicing. Instead of struggling with disparate systems, faxes, emails, or voice messages, suppliers access a secure work area that provides a complete summary of all transactions that require attention. With just a few clicks, suppliers get the most current status purchase orders, advance shipment notifications, and invoices.
It is easy and quick to register to use the Voya Supplier Portal. Potential suppliers can be quickly on-boarded through a simple online registration process. The following information must be provided and maintained directly through the Portal:
- Tax ID Registration
- Duns Number Registration
- Insurance Certifications
- Business Classification Certifications
- Corporate Addresses
- Banking information
Supplier Code of Conduct
Our corporate values and our Code of Business Conduct and Ethics (opens new window) are the cornerstones of our culture and central to our success. Together, these clearly define the expectations of our employees and directors at Voya. While our corporate values represent who we are, our Code of Business Conduct and Ethics (opens new window) represents how we act and reflects our commitment to maintaining the highest level of quality and integrity in everything we do.
This Supplier Code of Conduct (download PDF) sets forth Voya’s standards and expectations with respect to key areas of corporate responsibility. Our goal is to work with suppliers to ensure alignment with our corporate values, operate ethically and responsibly, and comply with applicable laws, regulations and corporate policies.
The Voya Supplier Portal (powered by Oracle Cloud) is Voya’s preferred method for suppliers to submit invoices.
The Portal use reduces unnecessary paper handling and improves the timeliness of payments. It is also allows suppliers to easily manage profile data such as contact information and banking details, and to efficiently manage transactions.
All Voya suppliers are expected to register on the Portal.
Voya standard payment methods for domestic suppliers are: Purchasing Card/ePayables and Automated Clearing House (ACH).
Unless otherwise negotiated, payment terms are net 60 days after receipt of a correct and undisputed PO-related invoice.