To any business, suppliers are just as vital as customers, and they are valued like strategic business partners. Poorly managed supplier relationships could potentially cause loss and cost the company.
Now, your interactions and communications with suppliers can all be stored in one efficient system so that your business can maintain good relationships between managers and suppliers.
What is SRM Software?
SRM (Supplier Relationship Management) Software uses digital tools to help businesses manage communications between their buyers and external suppliers that provide goods, materials, or services to the company.
Why does your business need SRM Software?
A significant loss of time and money could be faced if the relationship with suppliers goes sour. That is why a strategic approach to SRM is essential for thriving businesses that rely on third-party suppliers, regardless of the industry.
As the supply chain starts to grow, it can become more complexed to manage all of your supplier communications effectively. SRM Software can simplify the work for you by handling all of your orders, communications and relationships from one system.
Top 5 benefits of using SRM software:
Make Quicker Decisions
By having up to date reports and all the data history available in one platform, it becomes possible to see the complete picture of all your suppliers performance. Issues, risks, etc. and make optimal decisions easier and faster.
Suppliers Managed and Costs Reduced
Attentiveness to building long term relationships with your suppliers can make up for the initial setup costs. If both parties seek to avoid unnecessary expenses, it may cause damaged relationships or cancelled contracts. By focusing efforts on better-managed relationships and increasing mutually beneficial interactions, businesses can avoid high costs.
Improved Operations
SRM software creates an ongoing process for the improvement of the operations. As long as the feedback from both sides (stakeholders and suppliers) are available and easily accessible during the long-term relationships, the management conditions become more advantageous.
Effective Time Management
The SRM System reminds users to follow up on activities or missed actions and automates alerts when important events occur, saving your admin team's valuable time. Plus, lots of repetitive tasks are replaced with automated processes which cuts out a lot of admin work.
Valuable Relationships Prioritized
Allowing to prioritize the resources the system gives a clear impression about the value of each supplier effort which can be distributed among other suppliers in a way that the most beneficial partners are protected for the long run.
Are you ready to implement a perfect solution for managing your supplier relations? Eworks Manager is the ideal solution for your business. Our Supplier Relationship Management Software can help your business to manage and improve communications with all of your suppliers efficiently. Try out our Field Management System today for a 14-day free trial, or book an online demonstration to find out more about our software.
