SpendEdge’s supplier intelligence solutions empower procurement organizations to streamline supplier processes to reduce time to market. The experts gain specific supplier insights pertaining to different categories and identify the potential suppliers for client requests before initiating RFPs. Our supplier intelligence solutions enable businesses to monitor suppliers in the supply market and identify supplier risks. Supplier selection and evaluation becomes much easier for clients with our supplier market intelligence solutions and classified information.
CPOs face immense pressure to reduce cost, ensure contract compliance, and reduce the complexity of source-to-payment processes due to poor supplier data management. This process compels businesses to leverage strategic sourcing processes to analyze what they buy, from whom, at what price, and at what volume to devise effective strategies.
- Supplier Selection
With the increasing reliance on complex services and product outsourcing, businesses across industries have started identifying, evaluating, and contracting with suppliers. They are looking for new avenues to meet the needs of companies. SpendEdge’s portfolio of supply market intelligence solutions provides businesses with an understanding of how to evaluate and select the right suppliers, organize external resources effectively, and mitigate supplier risks.
- Supplier Profile Evaluation
Today, organizations seek suppliers who can support strategic goals and objectives while continually identifying the best practices to manage costs. Our experts examine suppliers concerning best value with a particular emphasis on quality, pricing, delivery, and innovation to meet clients’ requirements. Suppliers need to be evalulated on their ability to meet compliance with specifications, customer service, quality system for deliverables, capability, and past performance. We have you covered with our supplier intelligence solutions, from supplier competence to performance evaluation.
- Supplier Diversity
Embracing supplier diversity is important for companies to contract with the government and meet consumer expectations for corporate social responsibility (CSR). However, finding qualified diverse suppliers, verifying if it is truly a diverse supplier, and understanding the risks involved with them is a real challenge. Our supplier intelligence solutions can help companies to identify diverse suppliers with required business tangibles, partner with certified organizations, and stay on top of the world of supplier diversity.
Reduce the Risk of Fraud by Accessing Supplier Details
SpendEdge’s supply market intelligence solutions prevent internal fraud by implementing better control over changes to supplier details. As the links between businesses and suppliers grow, it becomes imperative to understand the supply base. The process arguably started with just-in-time manufacturing and has become insistent with the changing business’s unique requirements.
Gain Specific Supplier Insights to Make Informed Decisions
Specific supplier insights drive a better understanding of supplier risks, allowing businesses to make more informed decisions. Leveraging SpendEdge’s supply market intelligence solutions can help companies to build a successful procurement function, dive into each supplier’s detail, and gain instant access to detailed supplier profiles, including scorecards and past performance data.