Introduction
Client belongs to electrical home appliances manufacturing industry in India. They have vast network of distributors, direct dealers, retailers and service centers to reach every nook across the country.
Problem Outline
As many manufacturing industry clients face, the biggest challenge to this client was also missing communication with vendors, as their procurement teams use multiple platforms (ex: vendor onboarding software) to communicate with suppliers. Every issue with a PO, AP, or RFQ leaves the buyer-supplier relationship at risk and was leading to costly problems throughout the business. With a large project probably outsourced to multiple teams, it becomes very difficult to monitor the progress and quality at the same time.
Solution Summary
To overcome the above challenge their procurement head was in need of a solution that would cover their entire procure-to-pay(P2P) process effectively without gaps. We suggested Vendora – our automated vendor onboarding software solution that is designed, developed and improved based on subject matter experts.
Centralizes & Simplifies – Vendor Automation
Vendora helps the client to avoid multiple follow-ups being done between buyer & supplier. It had all basic features like vendor on boarding, RFQ, Price change request and many more in specific to rate vendors, integrate with ERP and few customization’s to meet their need. Now with this electronic vendor management system, single window communication is made possible, any related person can track PO transaction status & delivery against it.
This Solution ultimately led to a reduction in non-strategic time spent on PO transactions & delivery status tracking. The client was also able to glean additional insights onto vendor performance & Quality. Automating the manual vendor onboarding / management processes removes errors and ensures seamless communication.
Outcome
- Brings simplicity to the supply chain tracking activities
- Gain control over quality supplier selection for value addition
- Saves a significant amount of data entry time at the company level
- Real time solution for digitizing procurement management process
- Select few suppliers – ones you know provide excellent quality service
- Access a single-entry point for all of your locations and business units
- Helped them gain Complete visibility across vendor related transactions
- Open communication channels to maintain a collaborative environment
Client Testimonial
I would say it an ideal system that frees employees and vendors from tedious manual tasks and allows them to focus on the strategic side, like decision making and strategizing.
Conclusion
To invest in buying or developing your own Vendor Management System with automated vendor onboarding software to streamline your business & increase ROI, Contact us for a brief Demo & Free Quote.
