The addition of supplier contract management functionality to sourceit market comes after a significant period of consultation with existing customers and suppliers. Rather than a stand-alone module, the contract management functionality has been baked directly into the application and provides buyers, vendor and procurement managers real-time access to supplier information allowing for better supplier management.
Acting as a central repository for all supplier contracts, agreements, certifications, performance, health and environmental ratings, the functionality engages all the necessary stakeholders with real-time data and supplier visibility.
Automated notifications ensure that all contracts and certifications can be renewed, updated, cancelled and managed in real-time eliminating risk and non-compliance.
Marketing teams operate in a very fast paced environment, they source mostly bespoke products and services and value suppliers that can perform consistently, says Alan Paul, sourceit CEO. On the other side we have procurement and vendor management teams that are focused on compliance and mitigating risk, so we developed our contract management functionality to enable fully transparent view of the supplier in one location, says Alan.
We wanted our customers to have a 3600 view of the supplier, marketing procurement need suppliers that have a proven performance track record and when we overlay compliance with performance, we help our customers build much healthier relationships with their suppliers, says Alan.
The introduction of contract management functionality into sourceit market follows the recent release by sourceit of their RFQ application which can be used as a stand-alone quote request tool or as a plugin to any existing ERP platform.
For more information about sourceit, send an email to: firstname.lastname@example.org
sourceit is a fast-growing provider of affordable request for quote (RFQ), source-to-pay (S2P) and procure-to-pay (P2P) applications all delivered via cloud-based Software-as-a-Service (SaaS) platform. Sourceit empowers buyers by simplifying the sourcing and procurement process providing simple yet powerful solutions to help companies save time and reduce costs.
sourceit offers three different software applications:
- sourceit market – category specific, sourceit market is a source-to-pay application that specializes in the sourcing and job management functions for all Marketing Services.
- sourceit catalog – a procure-to-pay application, sourceit catalog allows clients and their users to order inventory and on-demand products and services from a single on-line catalog.
- sourceit RFQ – a simple and easy to use request for quote application that can be implemented as a stand-alone application or a plugin to your existing ERP platform.