Digital Supplier Management

Securing the goods and services your organisation needs with the best possible terms and conditions contribute significantly to your ability to drive your business in the most cost-effective way. It has been estimated that companies are outsourcing up to 70% of their turnover to their supplier network. And as companies choose to concentrate on their core business and rely on outsourcing more and more, this figure is likely to increase. In other words, there are big figures at stake. And yet most companies don’t prioritise supplier management. Or, after putting much effort in drafting a stellar contract, they leave it up to the supplier to follow-up on the contract.

Supplier Management Eases Biggest Buying Challenges

Professional buyers often struggle with the simple task of discovering possible suppliers and also with how to separate the wheat from the chaff. In addition, they often also cite the following as their biggest challenge: How to maintain at the same time a steady supply flow whilst keeping the quality of the goods or services high and the costs at a reasonable level? The answer lies in active and processed supplier management.

Digitalize your Procurement Process

Recognized best-in-class procurement departments:

  1. apply a holistic approach to procurement
  2. utilize technology to a greater degree
  3. bring supplier management to the core of their decision making

Digitalization is an on-going megatrend and it has found its way to procurement. Don´t condense it to a mere buzz word, though. Going digital on your procurement process will help you create online networks with the right supply partners, help you store and handle data like never before and optimize the way you handle your procurement process from start to finish.


Don´t Forget Cyber Risk Management

One significant risk not to be overlooked is the cyber security risk an enterprise´s supply base can pose. Evaluating this potential risk profile has to be one major criteria in the appraisal and final choice of a supplier done by procurement professionals.

The Cloudia Solution

Cloudia Supplier Management is a centralized tool for comprehensive organization-wide supplier relationship management.  You can pick the best suppliers for you from a large supplier pool and categorise them for further use. You can hone your procurement process and negotiate better contracts and deepen your collaboration with your supplier for mutual benefits. All this will steer your business towards smoother, faster and more effective supplier management and procurement.

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