There are several benefits to implementation of a web-based SRM tool, all of which ultimately help make daily processes within your team more efficient.
So, here are six reasons why your company should jump on the SRM tool train:
1. Automated Processes
Through automation, your company can easily save labor resources and speed up daily tasks to focus on what matters most. Instead of operating on a one-by-one basis, you can easily set up automation flows that will do the mundane tasks like supplier reminders on it’s own.
2. Integrated Data Environment
Having one integrated system for all of the file needs when it comes to supplier evaluation, qualification and retention is essential.
3. Digital File Archive
Through digital archiving, your team can easily store and find the exact document you need at the exact time. Rather than sifting through different channels to find a file, you can save time by accessing it on a single platform.
4. Centralized Access Point
The ability to access an SRM system including needed documentation and supplier communication from anywhere is a huge plus when it comes to efficiency and productivity.
5. Better Supplier Communication
As suppliers are the catalysts for product innovation and improvement. It is essential to have central medium of communication to let them know of issues or needed documentation as soon as possible to keep a healthy business partnership.
6. Easy Set Up
Unlike setting up an expensive ERP solution that calls for staff training, consultants and a hefty sum of money - an internet hosted solution is ready for you to get started immediately.
Indeed, manual document and supplier management can become a hassle and can lead to unintended consequences. Effective supplier relationships can provides your company with an ability to boost your business relationships so that both you and suppliers can experience business growth.