SupplierSoft is a unique solution not only because they’re one of the few companies that understand the importance of centralizing all of the supplier process management solutions in a common platform (because supplier management is more than just supplier information management and supplier risk assessments, two prominent directions that their competitors are moving in), but because they decided to build their solution on the #1 CRM platform, SalesForce.com. As noted in the previous post, there is a lot of similarity between CRM and SRM, since both require extensive information management and the ability to capture and organize the data against relevant business processes.
Despite its recent market entry, the SupplierSoft platform is one of the most extensive Supplier Relationship Management (SRM) and Supplier Information Management (SIM) platforms on the market with supplier management, audit management, corrective action management, product compliance management (PCM), environmental compliance management (ECM), bill-of-material (BOM) analysis, and end-to-end reporting modules.
Over the past year, they have significantly extended their regulatory compliance capabilities in their PCM and ECM modules with extensive customizable BOM and (PDF & web) forms support. You can collect data at any level of the BOM, which rolls up into higher-level components and reports, which can then be drilled into as required. This allows you to focus only on exceptions and non-compliance, which is a must when you have thousands of parts that collectively use thousands of compounds that you need to track to maintain compliance with RoHS, WEEE, and REACH (which is about to get a lot more involved as it works its way through the SIN List). The solution allows you to define custom forms, with defaults, that allow you to only collect the regulatory data relevant to you, which can then be (automatically) customized (by the system) for each supplier with respect to the products they supply you (and the declared components and/or raw materials). SupplierSoft’s clients have found that by creating easy-to-use custom forms, they get better responses to their regulatory compliance efforts with less work on their part. In one customer’s case, the compliance manager was able to free up half the staff to work on initiatives more important than just ensuring the supplier provides all of the necessary information.
A good compliance management solution, which SupplierSoft provides, is becoming very important because:
- it significantly reduces data collection, review, and reporting costs
which are becoming more and more significant as a flurry of global regulations are forcing many companies to keep electronic mountains of data
- it reduces time to market for new products
which can get delayed due to regulatory reporting requirements if you can’t fill out all of the forms and provide the necessary supplier documentation on-demand
- it reduces risk
as manual processes can allow non-compliant raw materials and parts to “sneak” through, which can result in forced recall and significant revenue losses; it also provides you with a “due diligence” defense should you be accused of recklessness in your regulatory compliance efforts
- it contributes to a 360° view of suppliers
which is very important to your SPM program
So if you’re looking for an SRM solution and you’re looking at Aravo, CVM, or another big name SIM/SPM/SRM solutions vendor, you might want to give SupplierSoft a look as well. Like their competition, they’re currently getting a lot of attention from a couple of Fortune 100’s and I expect they’ll be getting more attention as time goes on. You won’t know what option is truly right for you unless you look at all of the relevant ones.