Inaccurate Vendor Data Can Make Critical Corporate Initiatives Seem Foggy. From procure-to-pay, supplier diversity and tax compliance to strategic sourcing and social responsibility, vendor data touches multiple processes and can have a dramatic impact on priorities throughout an organization. Without current, accurate vendor data, a long list of corporate initiatives can be rendered unmanageable or even impossible to execute....
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Your Supplier Database contains the data that is the foundation of most of your day-to-day purchasing decisions. Regular scrubbing is not only a best practice, but it is a necessary process if you hope to optimize your core enterprise functions. There’s plenty of room for improvements in this field. Without any exaggeration, we can freely claim that almost each and any supplier database comes with...
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Supplier evaluation checklist strategies vary from company to company, but in all cases, can be a proactive way to expand your organization’s ability to attract and maintain the right suppliers....
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Know Your Vendor overview and best practices Modern businesses face quite a few risks associated with an overwhelming number of financial transactions, where every single one of them presents a potential risk. So, what’s the best way to identify suspicious transactions on time, when you have to deal with the large number on a daily basis?...
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ERP upgrades can be an expensive, challenging and inflexible. One System to manage all Enterprise Resource Planning has been an intriguing concept the world over. Just the whisper of ERP upgrades grabs the attention of both IT and finance executives everywhere....
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Vendor File Cleaning is fast becoming a necessary on-going process rather than a nice-to-have once in a while project....
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Vendor Master Management strategies are what makes it possible for you to create a strong and mutually beneficial relationship with your service providers and suppliers. That’s why it’s completely wrong and unjust to say that vendor management is nothing more than a couple of negotiations aiming to win the lowest price possible for your business. Vendor master management offers so much more if you press...
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Your Supplier Database contains the data that is the foundation of most of your day-to-day purchasing decisions. Regular scrubbing is not only a best practice for you and your team, but it is a necessary process if you hope to optimize your core enterprise functions. There’s plenty of room for improvements in this field. Without any exaggeration, we can freely claim that almost each and any...
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Using a vendor Portal to de-risk your supply chain. A supply chain is a living business organism, which inevitably has to go through periods of intense disruptions or high risks, every now and then. According to the findings of the Zurich Global Insurance Group in 2011, more than 85% of companies, which took part in the survey, experienced the consequences associated with the supply chain...
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