Supplier & Vendor Relationship Management (SRM) : Overview
The iSRM is a Supplier and Vendor Relationship Management software and platform provided by HAND Global Solutions. It is integrated with intelligent digital solutions for corporate procurement and transactions such as supplier management, sourcing and collaboration.
A vendor or Supplier Management System is a cloud-based platform that mitigates common issues that many global enterprises face. It facilitates and enhances business relationships and processes between companies and suppliers. Supporting agile collaboration and evaluating suppliers based on performance, this one-stop solution will provide companies with a competitive edge by improving the entire supply chain.
Leveraging on Supplier Relationship Management software tools can help businesses establish beneficial relationships with their suppliers and improve procurement efficiency. This is possible through the centralized supplier-related data, adoption of different sourcing strategies, and supplier collaboration planning.
WHY DO COMPANIES NEED A SUPPLIER MANAGEMENT SYSTEM
Increase Visibility
Providing insights into a supplier’s operations and contract compliance, leveraging on a Supplier Relationship Management Software leads to better visibility of your supplier relationship. With data applications such as indicator systems, supplier performance management can be handled effectively to make data-driven decisions.
Better Communication, Collaboration & Sharing of Information
A Supplier Management system supports deep collaboration between purchasing enterprises and supply chain partners. This can improve efficiency and enhance buyer-supplier transparency and ensure that information is delivered for both sides to improve the overall accuracy of forecasting.
Efficient Use of Time & Resources
Maintaining a supplier relationship can entail its fair share of busy work. SRM software tools and features will automate menial tasks, such as the creation of electronic invoices, saving companies time and resources. By reducing such time-consuming tasks from procurement team members, the focus can be on increasing productivity efficiency.
Features of HAND iSRM
With Hand Global Solution’s SRM software, you will be able to visualise every point of control in the process for the efficient handling of all business operations. Our Supplier Relationship Management software tools fall into three broad categories: Supplier Management, Procurement Sourcing, and Procurement Collaboration.
Procurement Sourcing
Covers all pricing behavior of enterprises.
Supplier Management
Achieve everything from centralised supplier management to standardised qualifying processes required to build a premium supplier management system.
Procurement Collaboration
Comprises of procurement collaboration module and the procurement mall module.
HAND SRM Integrated Solutions
For more information, talk to our experts.
Whether you are just starting out with supplier relationship management or looking to improve the existing process used by your company, having a supplier management system is essential, Take your SRM to next level with HAND Global Solutions. Get in touch with us for more information on our IT enterprise solutions or complete the enquiry form below and we will get back to you on the next business day.
