SLM Process Automation
Are you manually handling supplier information updates and compliance information? Is your supplier management team mired in tactical paper pushing rather than focused on strategic relationships?
Automation. It’s not just about replacing manual processes with electronically managed ones. It’s also about linking processes together...about linking data seamlessly across legacy systems...about centralizing information to provide a single source of truth...about making people not just more efficient, but more effective...about doing more with less.
Sourcing, procurement, finance, supply chain, and compliance organizations across the company are faced with a hodge-podge of manual and legacy systems managed through decentralized processes that continuously foster data quality issues, delays in processing critical information, and errors in everything from payments to compliance filings. Supplier data reviews often highlight supplier:
- Contradictory payment terms
- Incomplete records with little verification for accuracy
Because of the overwhelming number of suppliers that must to be managed using manual and fragmented processes with limited resources, limited efforts to correct, update, or validate supplier data can be supported. The result is high costs for poor supplier data, and compromised decision-making for managing supplier risk, performance and compliance.
The Answer...SLM Process Automation
Automated, configurable surveys can be sent to suppliers to capture sales contacts, addresses, tax and banking data, agreed upon payment terms, diversity certifications, sustainability and CSR information, OSHA and contractor safety data, insurance, and any current dual signature contracts. A workflow engine can push supplier data to the appropriate team for review and approval.
Automation can also simplify outreach for discovery of potential new suppliers. Through a self-registration supplier portal, interested suppliers can:
- Click on a website link and request to become an approved supplier
- Enter required supplier information
A registration workflow that automates the review and pre-qualification process among multiple approvers including:
- Human resources
- Facilities/ construction
- Insurance or print & publications
The solution can be further enhanced by the ability to seamlessly interface with 3rd party data sources to enrich or validate supplier information, such as linking to the IRS to verify tax id information. The result is a pre-screened, qualified pool of potential new suppliers.
Automation...higher quality data, seamless integration, improved process execution and management, improved scalability, greater strategic focus...all at LOWER COST!
Aravo can help
Aravo has helped many companies across industries deploy our industry-leading cloud-based SLM solution suite resulting in automated business processes and significantly lower administrative costs. For more information, please click on one of the choices in the Learn More box to the right.
"With Aravo our Commodity Managers can spend more time on developing and managing our preferred suppliers. My team now has the ability to evaluate and manage supplier data in multiple dimensions in order to assess their value to the University."
Richard Stack, Director of Sourcing and Procurement