Supplier Management
Improve supplier relationships and reduce costs
Improve supplier relationships and reduce costs
Effective Supplier Management is critical to mitigating supply chain risks, controlling costs and unlocking profitability. SoftCo Supplier Management delivers the benefits of working efficiently with preferred suppliers; purchasing is optimized, costs are reduced, and administration eliminated. The SoftCo Supplier Management solution enhances relations with your key suppliers with full online visibility of all orders and invoices, ensuring queries and disputes are addressed immediately.
Firstly, selected suppliers are invited to register on the SoftCo Supplier Lifecycle Management (SoftCoSLM) Portal, completing the on-boarding process themselves by adding company and financial information and all supporting documentation, including payment and VAT/TAX data. The automated onboarding guarantees adherence to AML compliance and removes the need to chase suppliers for vital information.
Once registered, SoftCo’s dedicated Supplier Portal enables suppliers to add their own purchase order and invoice transmission preferences, allowing them to submit all invoices directly through the Portal as they receive purchase orders. SoftCo’s innovative ‘PO Flip’ functionality converts received orders into a corresponding invoice that is returned to you immediately. Suppliers are notified instantly when you submit a purchase order and track the progress of invoices submitted. There is no need to chase payments and administration is eliminated.
Onboard, manage, and communicate with suppliers via the easy-to-use portal saving substantial employee time.
Manage and track all ongoing internal and external compliance obligations for AML.
Empower suppliers through invoice/PO submission, ‘PO Flip’ and invoice tracking.
Maintain full visibility and make data-driven procurement decisions with a full overview of supplier processes.
Full visibility of orders and invoices status, queries, delays or discrepancies through the Supplier Portal.
Seamless integration ensuring the ERP system is the primary owner of supplier master data.
Capture, escalation and actioning of all queries in the event of a dispute.
Streamlined onboarding and processes allows for clearer communication with suppliers.
Better supplier management starts here
SoftCo Supplier Lifecycle Management ensures the structured and secure onboarding & ongoing management of supplier with centralized access to supplier data, enriched with third-party verification. Automating information management boosts data accuracy and increases compliance, while lowering risks and significantly reducing administrative costs.
Designed to transform how businesses manage and interact with their suppliers, SoftCoSLM simplifies supplier data management, ensuring strict compliance with internal business processes in addition to industry and geographical specific regulations. With a 360-degree view of your supplier information, your organization can efficiently manage compliance, reduce risk and gain 100% control & visibility over the lifecycle of your suppliers from on-boarding to off-boarding.
Intuitive self-service portal allows suppliers to submit all required information for fast approval by compliance teams.
Pre-qualification of suppliers, and automated third party validation for tighter control avoids risky suppliers.
Centralized view of supplier lifecycle management with full audit trail and status visibility
Reduce the amount of time it takes to onboard your new suppliers with the easy-to-use SLM portal where your suppliers self-onboard. Suppliers are invited to the SLM portal where they will be instructed to complete onboarding forms and attach additional documentation as specified by you. Create and modify onboarding templates to meet industry, regional, and regulatory standards. Define user roles, designate approvers, and create an efficient workflow that complies with company policy and regulatory requirements ensuring that whatever specific information you require from your new suppliers by industry and/or location is submitted during the onboarding process.
Once suppliers have completed the onboarding process, your internal compliance team will be alerted to validate their submission. With automated 3rd party verification of key information such as Tax, VAT, TIN and Bank details, the process of completing due diligence of suppliers is accelerated, the correct regulations are met and the onboarding process completed.
Following initial approval, suppliers have continued access to the SoftCoSLM portal to update and make changes to any of their key information such as address, bank details or regulatory documents. Before details are accepted, the internal compliance team are notified and ensure that any updated supplier information is validated and compared against sanctions lists before approval. Seamlessly transfer data that has been collected, verified, and approved during supplier onboarding and updates. A unique ERP reference number supports data consistency from exports.
Intelligent and intuitive dashboards provide instant visibility into your supplier base. With easy drill-down functionality, the progress of each onboarding is visible allowing you to identify and quickly fix any bottlenecks. Generate a transparent, audit-friendly environment with comprehensive digital records. SoftCoSLM meticulously tracks all activity on supplier data with a timeline and relevant user information. Provide an easily accessible audit trail to improve accountability and internal controls.
Maintain great supplier relationships and improve visibility
SoftCo Supplier Portal empowers your suppliers and reduces the administrative burden on your Accounts Payable team. Suppliers can submit, view, and manage the status of their invoices without manual intervention from your team.
The process and accuracy on invoice submission is further accelerated through SoftCo’s innovative “PO-Flip” technology. A PO is submitted directly to the supplier via the portal, and the supplier can instantly turn the PO into an invoice. The SoftCo Supplier Portal is mutually beneficial, helping to streamline invoice processing, cut down on processing time and costs, and enhance data accuracy.
Intuitive self-service portal allows suppliers to instantly flip POs into invoices
All communication is managed through the portal to accelerate query resolution
Supplier Portal gives a centralized view of invoice processing and payment status
SoftCo Supplier Management software enables your preferred suppliers to submit all invoices directly through the portal as they receive purchase orders. This process is expedited through SoftCo’s innovative ‘PO Flip’ functionality where received purchase orders are converted into a corresponding invoice and returned to you immediately.
Suppliers are notified instantly when you submit a purchase order, both via email and the Portal. Suppliers can track the progress of invoices submitted removing the need to chase payments over the phone or via email. Once an invoice is submitted for a specific purchase order, suppliers track its progress through the portal and view its status within the approval process. This process also removes any dangers of duplicate invoices being submitted.
The Supplier Management solution also provides significant commercial benefits to your suppliers who gain visibility of the status of orders and invoices and can address any queries, delays, or discrepancies rapidly. The query management module ensures that all queries are captured, actioned, and recorded within the system in the event of a dispute. A detailed list of all events is available on the portal, including activity log providing a full audit trail.
Following initial approval, suppliers have continued access to the SoftCoSLM portal to update and make changes to any of their key information such as address, bank details or regulatory documents. Before details are accepted, the internal compliance team are notified and ensure that any updated supplier information is validated and compared against sanctions lists before approval. Seamlessly transfer data that has been collected, verified, and approved during supplier onboarding and updates. A unique ERP reference number supports data consistency from exports.
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