New Application Optimizes Supplier Information Management with a Supplier360 View Across the Enterprise
Informatica Total Supplier Relationship (TSR) application, a master data-fueled solution, enables supply chain, sourcing and purchasing teams to centralize and streamline the end-to-end process of managing information about supplier relationships and the raw materials and products they supply. By providing a Supplier360 view, Informatica TSR enables organizations to more effectively manage vendors and their performance, negotiate better prices, and reduce operating costs and risk.
As businesses grow in size, complexity and number of offerings, company and contact information on suppliers is most often managed in multiple siloed systems and applications spread across lines of business, departments and regions. Because changes to information in one system are not updated automatically across all the others, data fragmentation, inconsistencies and inaccuracies abound, with a detrimental effect on overhead and profits.
An article published by The Institute of Financial Operations notes that, according to AMR Research, which provides advisory services to supply chain executives, “companies have been forced to increase their supplier management employee head count and system resources by 35 percent in order to manage all the supplier data at their disposal.”
The Informatica Total Supplier Relationship application enables supply chain, sourcing and buying teams to spend less time manually managing data and more time analyzing it and taking the next best action. The application empowers organizations to:
Improve visibility into supplier relationships. Automatically connects the dots across systems by bringing together fragmented and inconsistent supplier information, cleaning it, mastering it and managing it on an ongoing basis to create a Supplier360 view. It fuels operational and analytic applications with clean, consistent and connected supplier data for a more accurate view of supplier performance, compliance and risk.
Speed time-to-market. Accelerates supplier onboarding from weeks to days and improves supplier collaboration.
Increase business efficiency and reduce costs. Reduces manual information management work and overhead, and helps buyers negotiate more favorable corporate pricing and payment terms based on aggregate spend across the business.
“For those companies that have large expenses associated with sourcing raw materials or products from suppliers, streamlining the process of managing suppliers and the items they supply can make a significant impact on the bottom line,” said Rob Karel, vice president, product strategy and marketing, Information Quality Solutions, Informatica. “Yet many enterprises are constrained by an application-centric approach to sourcing and supply chain operations. The Informatica Total Supplier Relationship application enables organizations to transition to a considerably more effective supplier-centric approach. Our master data-fueled application ‘connects the dots’ between data that resides in siloed systems. It helps companies better manage critical relationships across their own and their suppliers’ internal corporate hierarchies, contacts, their multiple addresses, and the items they supply. The application then delivers a Supplier360 view to any application for any purpose – from monitoring vendor performance to selecting the right suppliers for the right project or product.”
