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Products and Solutions

Vendor Relations Enabler

Vendor Relations Enabler
Vendor Relations Enabler is Vendor Relations Management system that delivers a flexible, cohesive platform for enabling, engaging, and evaluating an organization’s vendors. It provides a complete view of vendor activity and performance, including a vendor portal, scorecards and self-registration. VR Enabler is a web based system designed to automate collaboration and management of information exchange between buyer organization and its vendors and provide tools to evaluate and manage vendors more effectively.

Vendor Relations Enabler enables an organization to:

  • Engage vendors as process participants in projects, sourcing events and contract negotiations
  • Increase representation in the supply base
  • Provide a single point of access, through the vendor portal, for vendors to manage their account, respond to bidding events, view all active contracts and collaborate on performance scorecards
  • Receive a summary of all vendor activity across the enterprise

Key Benefits of VR Enabler

  • Reduction in Corporate Costs and Increased Corporate Profits
  • Increased Operational Efficiencies in Supplier Diversity and Procurement
  • Vast Reductions in Cycle Times
  • Increasing Transparency & Accountability
  • Provide decision support
  • Increased Corporate Compliance and Corporate Business Rules

Modules

  • Registration
  • Pre-Qualification
  • Classification
  • Selection
  • Bid Mgmt./ Evaluation
  • Bank Guarantee Mgmt.
  • Vendor Evaluation
  • Interface Management
  • Reports

Key Features

  • Work Flow Management
  • Alerts and Escalations Management
  • Template Driven Configurations
  • Scheduled load balance Instrument
  • Easy integration with any ERP systems
  • Adaptable to any organizations requirement

Vendor Registration:
The Vendor Registration functionality automates the collection of vendor information including detailed capabilities of the vendors and the on-going maintenance of such vendor profile data. The Vendor Registration aims to reduce the cost and effort for all parties in the registration process and provides an up-to-date industry-specific vendor list. The information procured during vendor registration caters all the basic information requirements of all departments.

Vendor Pre-Qualification:
While the Vendor Registration process allows capturing “static” information including a vendor’s general profile, vendor pre-qualification enables to perform “due diligence” on the vendor for each activity/ category.

Vendor pre-qualification module enables the organization to avoid unnecessary repetition of data, quickly determine whether or not potential suppliers are likely to qualify as suppliers, automated interface to handle potential supplier inquiries and maintain a positive image, review individual Supplier Applications in a workflow-based environment and utilize automated messaging to provide status updates to the supplier, while decreasing the workload.

Vendor Classification:
Applying Vendor classification, organization can define commodity and vendor requirements, choose appropriate assessment criteria, create a standardized process for classification. Vendor classification facilitates the organization to classify vendors based on pre-qualification results. Vendor Relations Enabler also facilitate blacklisting and suspension of vendors and mark vendors as competitors.

Vendor classification provides managers with better information on approved and preferred vendor resources. Managers can explore Vendor repositories for different types of vendors and pick the best of lot.

Vendor Selection:
Identifying decision-points early and agreeing on the importance of each factor eliminates most of the contention once the decision process begins, creating a "single vision" of the organization's goals.

Vendor selection is an automatic process to select vendors that will be invited for the tendered projects based on vendor selection criteria for the activity/projects. The selection criteria are predefined based on the ranking of the vendors in the selected class and the number of invitations received. Conditions can be added to the selection process whenever required.

Tender Management:
It enables the organization to invite for expression of interest and request for proposal from selected vendors for the tendered project. Proposals are evaluated electronically based on predefined criteria before sending the invitations. The system will enable the organization to negotiate with the selected vendors on line and it will print the technical and financial final evaluation reports.

Bank Guarantee Management:
VR Enabler manage both the initial and the final bank guarantees that are produced during the proposal and when awarded. VR Enabler will issue reports about the guarantees that should be expanded, released, and increased/decreased.

Vendor Evaluation:
A successful vendor is capable of delivering the requirements thereby forming a long-term, complex relationship with the organization. Vendor evaluations ensure that the vendor has the capabilities to successfully accomplish both the specific task at hand and future work. Every vendor will have a balanced scorecard and every project awarded will be evaluated and their balanced scorecard will be updated. VR Enabler enables an organization to configure evaluation criteria for itself for each project.

Factors that act as a base to vendor evaluation:

  • Scalability
  • Experience
  • Costs
  • Quality
  • Success record
  • Communications

Interface Management:
This module will ensure that the issues are resolved in time by escalating these from and to the vendor. At every stage of a project one point of contact will be identified to forward the issues. In case the issue is not resolved within the due time it will be escalated to the next level in the hierarchy until it is solved.

Managing Communication Channels:
Exercising this system a well-structured communication channel can be established between the Purchasing department and others, and manages the supply chain information flow between these channels. This will enable each department to review information about their vendors and will enable them to follow the status of their projects.

Reports
A comprehensive and flexible reporting system caters requirements of every organization.

Workflow Management:
Workflow is the key to efficient management of human resources and business processes efficiency/productivity of the organization. The facilities avoiding possible interruptions, reducing time consumption for completions of tasks, ensures right information to the right resource as per the rules configured. VR Enabler includes an independent workflow system that provides routing of information, tasks and documents from one user to another for action based on rules configured. Admin can configure business rules that drive the business processes and view the information.

Alerts and Escalations:
VR Enabler enables the organization to send reminders/alerts regarding the expiry of certificates, documents produced by vendors during registration. A well-structured escalation system is one of the key features of VR Enabler. This works perfect at every phase across the modules in the system. This enables the organization to avoid any undue delay in the business process.