Engaging effectively with suppliers is essential but often a buying organisation can become overwhelmed by the sheer number of interactions with all their suppliers, including keeping supplier profiles and catalogues up to date, requesting quotes, issuing tender documents, handling PO and invoice transactions, monitoring contract dates and terms and answering questions about payment status.
Adding to the volume of interactions is the variety of ways you are expected to communicate with suppliers including post, email, phone calls, with some contact in a more conversational style but other occasions calling for formal questionnaires and public tenders.
All of which is time consuming and steals time away from a procurement officer’s ability to review pricing, seek proposals and negotiate agreements, the very things they are judged by and that the business sees as the prime source of value generation.
The options to deal with this all
seem either unrealistic or unlikely; hire more people, work longer hours or
become faster at re-keying information, all while somehow managing and
rationalising the number of suppliers without knowing enough about them.
A Supplier Network connects you and your suppliers in the most efficient way possible at every important touch-point as you do business together. It provides essential support to all Source-to- Contract and Purchase-to-Pay applications and can connect in similar ways with other existing systems.
The web-based portal allows for suppliers to create and maintain their records on your behalf, receive notifications including requests for quote or tender, participate in auctions, administer their documents and contracts, and trade via electronic Purchase Orders and Invoices.
Cumbersome manual communications
and transactions are replaced by quick, low cost electronic methods that
deliver accurate information from a single viewpoint. The Supplier Network
becomes the ideal ‘one-stop’ collaboration channel that serves your buyers and
suppliers alike, sharing key information and transactions in the most efficient