Top 10: SRM Providers
Supplier Relationship Management (SRM) is a strategic approach to managing an organisation's interactions with its suppliers. The goal is to ensure the organisation and its ecosystems of suppliers work together effectively to achieve common goals.
SRM goes beyond traditional procurement and purchasing functions, to focus on building collaborative and mutually beneficial relationships with key suppliers.
The following are among the most important providers of SRM services.
10. Tradeshift
Tradeshift is a global trade network that encompasses every interaction between a buyer and a supplier. It is a cloud based business network and platform for purchase-to-pay automation, supply chain payments, marketplaces, virtual cards and supply chain financing. Its 2018 round of funding, led by Goldman Sachs, raised US$250 million at a valuation of $1.1 billion, giving the company unicorn status.
Organisations use it for better data management and enhanced collaboration.
9. Epicor
Epicor provides enterprise resource planning, customer relationship management (CRM), supply chain management and human capital management software to business customers, both as software as a service (SaaS) and on-premises models.
It works with customers to create industry-specific software solutions and services that, it says, “enable a world of better business”.
With sourcing being purchasing professionals’ most important value-add activity, Epicor’s software offers a wide range of skills and subject matter expertise. It does this through automation technology, allowing buyers to focus more time and energy on strategic activities.
It offers everything from strategic sourcing to procurement, and from supplier enablement to user adoption.
8. GEP
GEP SMART is designed to allow organisations to work more cohesively with suppliers “to enhance relationships in a transparent and structured manner”.
It allows customers to define action plans, assign stakeholders and measure results for all supplier engagements. Each plan can incorporate multiple actions with different stakeholders, building to a comprehensive plan for supplier relationship improvement. “With a simple, effective mechanism in place to manage supplier relationships, you can move on to the next critical thing – supplier-driven innovation,” it says.
7. Vizibl
Founded in 2014, Vizibl is a digital procurement platform that allows global organisations to unlock the true value of supplier relationships by facilitating supplier collaboration and innovation, in order to drive sustainable business growth. Its benefits include resilience, sustainability, and supplier innovation at scale.
“Achieve your most ambitious goals, align on objectives, and work collaboratively with your suppliers and business partners, at scale,” the company says.
6. Blue Yonder
Blue Yonder’s intelligent, real-time platform provides a single, trusted view of supply and demand. It is an integrated suite of products offering design and sourcing capabilities that enable companies and their suppliers to collaborate and manufacture products faster and at lower cost.
It is designed to help businesses along the transformation journey, whether this is the partial automation of manual processes or a full-fledged digital transformation.
5. Ivalua
Ivalua has been innovating in the procurement space for more than 20 years. The company believes digital transformation “revolutionises supply chain sustainability and resilience allowing companies to unlock the power of supplier collaboration”.
Its SRM solution is designed to build stronger and more collaborative supplier relationships, and offers: a 360-view of supplier information; integrated risk and performance management; and strategic supplier collaboration capabilities.
4. Coupa
Coupa is a leading cloud platform provider for business spend management (BSM). It provides value by offering a “comprehensive, open, user-centric, prescriptive and accelerated solution”.
Coupa helps users improve efficiency, visibility, and continuity while driving compliance.
“We bring a complete, user-centric vision for supplier and third-party risk management that’s fully integrated with procure-to-pay and across all BSM processes,” it says.
3. JAGGAER
JAGGAER offers a comprehensive suite of procurement solutions, including SRM. Its platform is designed to optimise supplier relationships, improve collaboration, and drive procurement efficiency. Regarding SRM, JAGGAER offers supplier relationship insights with a flexible, intelligent supplier management solution.
Features of its supplier management software include better supplier selection based on: supplier-managed profiles with improved data; increased speed of innovation; and monitoring and prediction risks
2. Oracle
Oracle Supplier Lifecycle Management allows users to master supplier information, streamline the supplier management processes, enable cross-functional performance evaluation and assure effective governance and risk mitigation.
“Suppliers aren't just important to the procurement department but are a key component of an entire organisation's ability to generate value,” the company says. It adds: “The ability to generate value is compromised when information about supplier performance is locked away in disparate systems or in employee's heads.”
1. SAP
SAP Ariba is a cloud-based procurement solution that includes SRM functionality. It enables organisations to streamline procurement processes, manage supplier relationships, and enhance collaboration across the supply chain.
SAP Business Network is considered the place for companies to connect in order to get business done. More than $3 trillion in commerce is transacted annually on the SAP Business Network, and SAP Ariba’s cloud-based solutions make it easy to collaborate and compete through its collaborative work on transactions, forming relationships as well as developing new business opportunities.
Millions of companies in 190 countries are connected on the SAP Business Network to uncover new opportunities and work together on transactions with the view to further their relationships.
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