No hassle of finding contacts from business cards, emails and spreadsheets
Keep track of supplier performance history, internal notes with rating and find when you need with easy search
Maintain approved vendors by item and keep track of any price contracts with them
Invited vendors would be able to access your supplier portal and interact with you free of charge or simply respond to emails
Solicit vendors and streamline the application process through self-service supplier portal
Ensure required information and documents are submitted and maintain the same
Save time dialing and emailing suppliers to get quotations and find order status.
Exchange messages with suppliers in the context of quotations, orders and invoices plus notifications by the system
Run email campaign requesting your existing suppliers to update their information by filling a form launched directly from the email. Check for duplicate supplier entries
Find new suppliers in the network or import and invite your existing suppliers into your account as a first step to streamline and improve relationship with suppliers
>> Publish categories/items you intend to look for new suppliers
>> Get notified of empanelment requests based on interested categories/items
As an organization evolves, it is important to keep the data of existing supplier and potential supplier’s information clean and available. Most often small businesses would have their vendor data hidden in their emails, excel spreadsheets, business cards or on individual mobile phones. This would lead to inconsistent and incomplete information while making it hard to find at the right time as it is not centralized and kept accessible to the team when they need. In most cases, contacts stored on mobile phones would include first name, email, phone number and name of the company. Not having supplier data information organized and available would hinder digitization of sourcing and procurement processes.
SourceRFX gives a provision for the sourcing and purchase managers to import their supplier information and contacts into the system. It also, allows them to send a message to the imported contacts periodically and request them to update their contact information. Supplier contacts receiving this message from the buyer is more likely to update their information by simply clicking a personalized link to verify and update their information. This approach is far more effective to improve data quality than using expensive automated data cleansing, data enriching tools in the market and can easily be used by buyer companies irrespective of their size.
From time to time companies publish vendor solicitations through their website and other public channels to attract qualified vendors for their new product introductions (NPI) procurement or project procurement sourcing requirements or for other strategic reasons. Interested vendors need to submit their application through the vendor registration process. Along with the application they are expected to answer questionnaire and submit various documents, which get verified internally through a workflow followed sometimes by site visits, reference verifications and other qualification criteria. Many legacy companies still use offline, paper based submission process, which is not only is time consuming but also error prone with missing information.
Digitizing supplier registration process streamlines eliminating unnecessary paper work. Suppliers would be able to simply review and submit the application form, questionnaire along with uploading required documents online. Buyer internal teams can review, keep track of internal notes while digitally communicating back to suppliers for any clarifications. SourceRFX enables to define application forms and attach questionnaires with provision to upload files. Applications can internally be reviewed and approved, while the suppliers be able to not only get automated notifications on the status of their applications but also be able to verify their submissions & update from time to time.
Public online vendor registration process would eliminate the need to scan and maintain loads of application forms and supporting documents submitted, while making them easy to access and search for future reference. It provides self-service for the suppliers to maintain supplier information as and when there are changes, improving supplier data quality while reducing administrative overheads and delays. Helps to digitally organize vendors by product/service categories, service area keeping a pool of preferred suppliers ready to be invited when needed.