Staying competitive in changing marketplace lies in the organizations ability to leverage data at its maximum for improved business performance. Global research states that 95% of the best performing companies are empowered with technology for data utilization, integration, and management. Today organizations are obsessed with data & they need to make sense of their vendor data, for this to happen implementing master data management strategy is key.
Vendora, vendor management software application assists organizations to bring in a standard way to collaborate and manage all trading partners. Adopting this software application solution, you could set up your own vendor master data management architecture. By having all your supplier data organized in one place you could allow different departments in your organization to access critical data for performing key tasks.
Vendora assists organizations to define & implement a master data management strategy and address key challenges. By implementing this product to centrally manage Vendor data you could witness reduced costs and improved efficiencies throughout your entire supply chain. As one can imagine, with Vendora software and networking advances, purchase officers can manage all strategic sourcing events like RFPs, RFIs, and RFQs faster and easier than ever before.
Likewise, this supplier master data management gives 360° view of the supplier ecosystem and lets procurement heads to proactively govern and keep track of the turnkey spend and supplier performance. Access to the right information at the right time, continuous process improvements with plan on sequential action points helps boost business performance.
Thinking of integrating various vendor data management, standardizing critical data to get visibility across multiple sources can. Get in touch with us and see how we can help you manage supplier / vendor master data visibility for informed decision making and mitigating risks.