You've invested millions in your enterprise source to settle business systems. Perhaps you have ERP procurement and payables, best of breed sourcing, stand-alone eProcurement, or niche services and asset management systems. Regardless of vendor, age, or technology, they all rely on one key ingredient to deliver their expected ROI and process efficiency: accurate, timely, and complete information on Third Parties. Incomplete or inaccurate Third Party information costs you money in the form of inaccurate payments, duplicate supplier records, maverick spend, and more.
Add decentralized global operations each with their own unique set of Third Party information requirements, and it's not surprising that Third Party management continues to be among the primary challenges facing sourcing, procurement and supply chain professionals today.
Aravo's Third Party Management solution was purpose-built to help companies save money by designing, implementing and powering best-in-class programs to manage extended, global networks of Third Parties.