4 Quick Tips to Optimize your Supplier Management Processes

It’s easy to feel like you are in the middle of a juggling act as a Procurement Manager or CPO. No matter how many times you reflect on current processes and procedures, new tools are continuously released to promote the supplier management process. In an article published on ReadITQuik titled, How to Optimize Your Supplier Management Processes, we have pulled four of the top optimization techniques you can use to further streamline supplier management processes.

ONE. Stay Updated

Continuously surround yourself with industry trends, new technologies and risk mitigation techniques via news updates, webinars and free product demonstrations.

TWO. Promote Transparency

By documenting all supplier processes, accountability ownership will have a strong push on both ends to assign tasks and gain visibility and maximize collaboration.

THREE. Go Paperless

Going paperless eliminates wasted paper and filing cabinet space, along with the time it takes to review every five years to make room for new documents. With electronic documents, you can readily track and update records easily and take better control of your supplier management processes.

FOUR. Examine Internal Controls

In an Off-Premises article published by ReadITQuik, April Rassa describes two steps procurement managers can take to boost efficiency without sacrificing quality:

Step 1. Use technology that ensures the approval process is (a) easily accessible by key stakeholders and (b) easy for them to understand and navigate.

Step 2. make sure that same technology gives decision-makers centralized access to everything they need to move a plan or a contract forward. The less time an approver spends digging around for missing info, the better.”

If adding transparency and streamlining telecom and technology bill payments are on your list of to-do’s for optimization discovery, reach out to our TEM experts to see our telecom and technology expense management software, Clearview, and learn how you can discover hidden savings, invoice errors and much more. The right bill payment software for you is right around the corner.

About the Author: Chantel Soumis

Chantel Soumis brings over a decade of knowledge in workflow enhancement through the use of technology. Chantel studied marketing communications and business administration at Franklin University and proceeded to work in a fast, ambitious environment, assuring client delight in the healthcare and pharmaceutical industries. Passionate about project productivity and streamlining workflows through the use of technology, Chantel strives to inform organizations of Valicom’s advanced telecom expense management software and services by mastering communications and messaging while delivering helpful information and supporting resources.