Supplier Relationship Management (SRM) application automates, simplifies, and accelerates procure-to-pay processes for goods and services.
Your company can take advantage of the tools SRM provides to drive superior results through an end-to-end procurement process.
SRM can help your company achieve the following business benefits:
• Sustainable cost savings –SRM supports tight process integration. As a result, you are able to achieve a closed source-to-pay loop.
• Contract compliance –SRM provides visibility into enterprise expenditures and gives your procurement organization the ability to effectively demonstrate that spending activities, contracts, and supplier interactions adhere to corporate guidelines.
• Competitive advantage –SRM gives you the tools to partner with key suppliers to differentiate in your market, define your supplier management approach, and determine the key metrics that are used to determine supplier success.