SRM Tools: Supplier Relationship Management

SRM: Supplier Onboarding and Administration

SRM tools in Acquirell allow you to control your interaction with suppliers fully and increase and update the contractor database. They make onboarding as easy as possible during sourcing and importing business contacts into the system and checking for compliance with the company’s requirements for the quality of goods and services, experience, and business principles — with regular and new suppliers.

Fast and Straightforward Supplier Onboarding

SRM tools in Acquirell are designed for onboarding suppliers and administering supplier management. They make onboarding as easy as possible when populating the database of suppliers (and other contractors).

  • Partially automated mailing of registration invitations — if the company maintains a contractor database in Excel, the data can be easily imported into the system.
  • By accepting the invitation, the supplier enters a single workspace with a simple and user-friendly interface.
  • Working within the system is more convenient than via messengers, emails, and phone calls.
Maximum Information about Contractors and Always Up-to-Date Supplier Database

Supplier Relationship Management is an information, reference, and management tool that works at all times, regardless of how busy the contract and procurement department specialists may be.

Acquirell SRM extends the Know Your Customer (KYC) principle to all suppliers. To control purchases and payments, you need to know more about your contractor than just their payment details and contact information. The history of deliveries and payments, the list of violations of contractual obligations and the contract price discounts, and the number of additional agreements initiated by the contractor — the disparate information from departments and employees goes into Supplier Relationship Management where it’s systematized automatically: 

  • Cut off unscrupulous suppliers — those who often violate the terms of the contract, delay delivery and deliver goods with a high percentage of defects — from sourcing events.
  • Assess suppliers’ performance based on integrated data — the history of participation in sourcing events, questionnaires, and surveys of employees from different departments.

Each supplier’s performance is transparent and available for analysis. In just seconds, you can get information about the sourcing events the contractor participated in and attestations, bids, and awards in sourcing events, and then contact the contractor’s representative within the system if necessary.

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