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Powering Napoleon’s Procurement with SourceDay — VISUAL Focus 2019 Recap

Napoleon & SourceDay: Powering Procurement and AP Automation with Supplier Collaboration Napoleon & SourceDay: Powering Procurement and AP Automation with Supplier Collaboration

Over the course of 4 days at VISUAL Focus 2019, we met so many inspirational procurement leaders at breakout sessions, networking events, and at our booth!

But, one of our favorite memories from the event was presenting alongside Napoleon Products in our session, Napoleon & SourceDay: Powering Procurement and AP Automation with Supplier Collaboration.

Napoleon Products ERP Improvement Manager Louise Mayer and SourceDay COO Clint McRee took the stage for a candid conversation on how Napoleon modernized their procurement processes using SourceDay’s PO Collaboration and 3-way invoice matching. Through SourceDay’s centralized platform, they are now able to complete vouchering for thousands of POs and invoices across hundreds of suppliers.

During the session, Louise Mayer described the all-too-common supply chain challenges Napoleon faced.

Napoleon’s Key Challenges

  • 10+ price discrepancies per day that eroded profit margin
  • Manual PO process led to inefficiencies
  • Late customer shipments
  • Expedite fees due to late deliveries
  • Mismatched invoices
  • Late & incomplete deliveries caused by incorrect lead times and quantities

At the root of these challenges were significant inefficiencies in the first mile of their supply chain — supplier collaboration. Napoleon needed to transform their purchasing process and automate manual procedures and make their supply chain more reliable.

With SourceDay, Napoleon has simplified their supplier communication without having to maintain a supplier portal, go through complicated training, and support revisions.

SourceDay paid for itself in less than 3 months…

– Louise Mayer

The SourceDay Approach

With SourceDay, Napoleon is able to see more accurate lead times and quantities so they can keep production plans on target.

By streamlining and error-proofing the acknowledgment process across procurement, accounts payable and vendors, Napoleon is able to improve on-time delivery.

Before SourceDay, inaccurate supplier invoices led to overpayments. With SourceDay, Napoleon can more closely monitor POs and see mismatches where they originate.

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How UEC Modernized Their Procurement Processes with SourceDay

Universal Electric Corporation Production Floor Universal Electric Corporation Production Floor

“You shut down your customer if you don’t get a part.” Brian Maden, a global supply manager at Universal Electric Corporation (UEC), knows the effects of delayed deliveries first-hand.

For over 95 years, Universal Electric Corporation used manual processes to collaborate with suppliers on orders. UEC’s buyers spent a significant amount of time adjusting production timelines based on delays. These outdated processes led to lost orders, missed acknowledgments and delayed order receipts.

We have a steady flow of 1,400 to 1,500 purchase order lines and a missed acknowledgment can throw everything out of sync.

-Maden

Changing lives

After searching for a solution, Maden discovered SourceDay. He was impressed that SourceDay combined all of UEC’s PO data from every key vendor for every buyer in a single dashboard. Universal Electric Corporation’s ERP system, CloudSuite Industrial (Syteline), and SourceDay share data automatically. No more scrolling through lines of spreadsheets and manually copying the data into Syteline. This integration makes it simple to anticipate, plan for, adjust, and minimize any disruption. In addition, acknowledgments, email notifications, and promise dates are automated through SourceDay, meaning Maden never misses a change.

Implementing a cloud-based SaaS solution, like SourceDay, allows UEC to simplify its supplier communication. As a result, Maden saw a decrease in the number of disruptions to production plans due to delays. With fewer late deliveries, UEC was able to actually increase production.

Learn more about SourceDay and how we help manufacturers and distributors, like UEC, improve their supply chains and grow their businesses.

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How Dell Transformed Supplier Collaboration [Webinar]

Learn from Dell’s Director of Supply Chain Gentry Pate, Spend Matters’ Analyst Nick Heinzmann, and SourceDay’s very own CMO Sarah Moore as they discuss how to digitally transform the ‘first mile‘ of a supply chain.

Market forces and global trade trends are making supply chain operations increasingly complex. Organization in the first mile of your supply chain’s operations is essential. Nick covers a few of the crucial steps to ensure your supply chain is set up for success.

How Dell Transformed Supplier Collaboration | Spend Matters Webinar (11:34)

In the full webinar, Pate shares how his team adopted the steps above. By using SourceDay’s PO Collaboration tool to eliminate tactical tasks and proactively manage its supply chain, Dell’s investment paid off by improving supply chain efficiency.

As the director of a global services parts program, spanning more than 160+ countries and dispatching more than 12 million parts annually, Pate knows the challenges of managing complex and fragmented supply chains first hand. While auditing their PO process to understand how time was being spent, Dell found that their planning team was spending 58% of their total time on POs that amounted to less than 20% of the total budget. In order to become more efficient, Pate used SourceDay to automate the PO process for the low-cost parts.

Using SourceDay’s PO Collaboration tool and analytics, Dell was able to set minimum and maximum order volumes to reduce safety stock and automate nearly 90% of procurement for certain commodities. Some planners automated between 70-90% of their decks and shifted their attention from day to day tactical work to strategic planning.

This was the first step we needed to get to. Let’s get the busy work out of the way so we can move forward on our autonomous journey… We’re no longer looking at part-to-planner ratio, we’re looking at part-to-planner activites.

Genry Pate, Dell’s Director of Supply Chain

Learn more about Dell’s journey with SourceDay and how you can transform your supply chain.

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How to Transform Your Accounts Payable Process [Video]

In our recent webinar, Colby Young, SourceDay Director of Alliances & Channels and Solutions Engineer Phillip Pavelka, are joined by Synergy Resources’ Executive Vice President of Sales & Marketing Paul Tedford and Business Solutions Account Manager Dawn Fludder, for a conversation on transforming the accounts payable process. Together, SourceDay and Synergy explore how automated 3-way matching for Infor VISUAL ERP can transform the AP processes by reducing costs, increasing transparency on payment updates and increasing business velocity.

As Young explains in the webinar, a significant amount of administrative work in the AP process can be automated. Time-consuming tasks like matching invoices to purchase orders and receipts, chasing down discrepancies and pinging suppliers for updates can all be automated. With these tasks taken care of, finance professionals can instead focus on more strategic activities.

Suppliers always want to know when they’re going to get paid. Giving them the visibility into where their invoices are in the lifecycle process of AP is hugely powerful for them; it makes them happy and eliminates the distraction cost for you of answering their calls and emails asking where their payment is in that process. – Colby Young, SourceDay

SourceDay transforms the manually intensive, error-prone AP process through a full lifecycle automation solution built for the VISUAL environment. Some of the benefits include:

  • Notification of a new Receipt within VISUAL
  • Matching against an up-to-date PO and Invoice
  • Automatic Vouchering within VISUAL

Register to listen to the full webinar and learn how AP automation can have significant benefits for your business’s bottom line.

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SourceDay’s New Approach to AP Automation [Video]

Have you ever found yourself trying to understand why the price and quantity on an invoice don’t match the purchase order? Mismatched supplier invoices are one of the biggest drains on an organization’s supply chain.

Figuring out why invoices don’t match POs or receipts is extremely time-consuming and frequently requires help from multiple teams to get to the source of the error. Invoice exceptions are so common that they often create a giant backlog for your accounting team to chase down; wasting time and delaying supplier payment.

To get to the bottom of your AP issues, you have to look for errors in the ‘first mile’ of your supply chain. After POs are created, they are submitted to vendors via email. From this point on, communication between the buyer and the vendor is manually recorded or not tracked at all. When changes occur on a PO, those updates are communicated through a combination of emails, phone calls and faxes. Details can easily get lost!

Nearly 88% of manual AP documents have erroneous data-entry occurrences.

The source of discrepancies runs the gamut from incorrect pricing and quantities to PO updates that were never recorded in the ERP system. If your ERP is not updated with correct data, your AP department will, in turn, receive an incorrect invoice.

SourceDay Solution

AP is not the cause of mismatched invoices. It’s just where the problem is discovered. To truly solve the issue, you have to reconsider your manual PO and AP processes and focus on supplier collaboration.

With SourceDay’s SaaS platform, you can digitize every invoice and verify that every order is complete with automatic matching. SourceDay’s AP solution enables automatic vouchering, meaning suppliers know when they’re getting paid and you can take advantage of early payment discounts. The status of every invoice is shown through in a single dashboard so you have complete visibility from when the PO arrives at the loading dock, to when the invoice is matched and completed.

Learn more about how SourceDay dramatically increases order accuracy and the number of matching POs and invoices by getting in touch with us!

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SourceDay Joins Global P21 Members at Connect 2019

Connect 2019 Event Logo Connect 2019 Event Logo

We can’t compete with New Orleans nightlife, but as far as procurement goes, consider us Louis Armstrong! From September 8-10, SourceDay will join Prophet 21 World Wide User Group Members in New Orleans for Connect 2019. If you’re planning to attend, don’t miss our breakout session “How Data Handicaps your ERP,” our exhibitor booth, and our Amazon Echo Show Giveaway.

Over the course of three days, we’ll hear from supply chain thought leaders from around the world, connect with WWUG members, and experience the city of New Orleans.

The event will be a whirlwind, but we hope you’ll make time to come and see us at booth #400. Learn about SourceDay and how our Saas solution can create transparency in your supply chain. We’ll also be hosting an Amazon Echo Show Giveaway. Stop by our booth and meet some of the SourceDay team to be entered for a chance to win!

On Tuesday, September 10, at 1:45 pm, hear from SourceDay experts in the session “How Data Handicaps your ERP.” Discover the importance of ERP data integrity and the impact that inaccurate supplier data has on scheduling, inventory, revenue, costs, and risks. Supplier Collaboration represents one of the largest external forces on your supply chain. Tighter communication on incoming materials significantly reduces risk. Learn the importance of focusing on PO acknowledgments, supplier collaboration, and managing change with suppliers.

Be sure to attend our session to be entered for another chance to win an Amazon Echo Show!

We hope to see you during the event! But if you can’t make it to Connect 2019, you can still get in touch with us by emailing contact@sourceday.com

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SourceDay Announces ‘Built for NetSuite’ Status

SourceDay Logo Featured Image SourceDay Logo Featured Image

We’re thrilled to announce that SourceDay’s supplier collaboration portal SuiteApp has achieved ‘Built for NetSuite‘ status. The new SuiteApp, built using the Oracle NetSuite SuiteCloud Computing Platform, offers a cloud-based supplier collaboration solution that meets Netsuite’s level of standards for security, data privacy and overall quality.

As businesses embrace cloud ERP, thousands of companies are using NetSuite across a multitude of industries to lay the groundwork for their companies, run them, and scale. Retailers, manufacturers, and wholesale distributors have achieved significant operational efficiencies using Netsuite to gain access to real-time business data and accounting automation. SourceDay’s partnership with Netsuite means that businesses are now able to grow their operations using accurate Supplier data and actually solve the issues that appear in the ‘first mile’ of the supply chain through SourceDay’s Supplier Collaboration Platform.

With the launch of its SuiteApp, SourceDay is driving efficiencies between manufacturers, distributors and their suppliers by providing accurate, transparent and real-time data to break down procurement communication barriers.” – Guido Haarmans, VP, SuiteCloud Developer Network and Partner Programs, Oracle NetSuite.

SourceDay’s Built for Netsuite (BFN) status means our platform’s lightweight integration is continuously validated by NetSuite and SourceDay. So your planning, scheduling, production, and customer service teams can operate on accurate supplier data in real-time. The results speak for themselves. A typical SourceDay customer experiences the following benefits:

  • 90% supplier enablement
  • 35% improvement in on-time deliveries
  • Reduces mismatched invoices by 33%
  • 25% improvement in buyer productivity

To master the procurement process, more companies need to pay attention to the ‘first-mile’ of their supply chain operations. For too long, manual processes for data entry and PO management have stifled communication between suppliers and buyers and led to costly errors. “Organizations need an efficient and responsive supply chain to stay ahead of constantly changing expectations and that requires open lines of communication across the entire value chain,” said Haarmans. SourceDay’s solution automates communication and drives actionable two-way collaboration between the buyer and supplier to help reduce waste, errors, and inefficiencies.

Procurement is often a huge pain point in the supply chain as miscommunication and incorrect data can lead to unnecessary costs and wasted productivity. Our SuiteApp enhances automation to help make it easy for companies to master the procurement process and increase efficiencies across the supply chain.” – Clint McRee, COO, SourceDay.

Learn how SourceDay can help your company achieve these results!

Continue reading about our partnership with NetSuite:

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Top 3 Reasons Supplier Portals Fail

Reasons supplier portals fail chaos Reasons supplier portals fail chaos

According to Spend Matters, a recent survey found that 60% of supplier respondents had to log on to 10 or more supplier portals every month; 10% log on to more than 50. And, 40% said that portals had increased (rather than reduced) their department’s workload.

The supplier portal landscape is crowded. There are so many portals available that suppliers are suffering from supplier portal fatigue! Companies are desperate to find a software solution that creates transparency between buyers and suppliers in every stage of an order’s lifecycle. But, with the plethora of portals available, why are suppliers and buyers still struggling to manage orders?

We’ve uncovered the top 3 reasons supplier portals fail.

1. Supplier Drop-Off

When customers adopt a new supplier portal, suppliers have to learn how to use the new system. On paper, this sounds great. The portal syncs with your ERP, there’s increased data transparency and its free for the supplier!

In reality, some suppliers and buyers spend a significant amount of time learning new portals only to see minimal changes in their daily workload. Because most supplier portals are complicated to use, users often resort back to their old manual processes for their work. Even after adopting a portal, tasks such as invoice matching and invoice processing are still completed manually through email and paper checks.

Learning a new portal is a big change and its not always worthwhile for suppliers! Suppliers are asked to work with so many ERP specific portals that it’s difficult to keep track of logins and passwords. Learning an entirely new system for one customer, who may order once or twice a year, is not a worthy investment.

2. Supplier Onboarding & Maintenance

The design, logic, and upkeep of a supplier portal is ultimately tasked to the buyer’s IT department. Without customer service teams available, IT departments become the primary source of training and help for suppliers using a new portal. It’s not uncommon for buyers to work with thousands of suppliers. With supplier turnover, IT departments don’t have the time to work year-round onboarding new users and answering a never-ending stream of support questions. Needless to say, adding a new supplier portal is an IT nightmare.

3. Management Fatigue

Integrating a supplier portal can take months. The portal needs to sync with the ERP, staff needs to be trained, and both the buyer and supplier need to be on the same page. Without the right technology partner, this involved process can mean a slow time to value. Some portals require significant training because they’re hard to use. If staff is unable to easily use the portal and get their workflow running smoothly, there’s no value in spending the money. So management is often skeptical about supplier portal projects unless there is a clear and defensible ROI.

SourceDay Solution

Unlike legacy supplier portals, SourceDay is ERP agnostic. Our software can connect with any ERP system through one unified platform. In other words, you can throw out your sticky note full of supplier portal passwords. With SourceDay, you can manage all of your suppliers or buyers in one platform with real-time, easy to read data and PO status updates in the form of push notifications.

SourceDay automates routine tasks such as invoice matching or PO collaboration and frees users to focus on bigger issues and higher-level strategy. With access to support staff and an easy cloud-integration process, SourceDay provides a clear ROI quickly. Our training and support services make SourceDay adoption a simple process for all users; suppliers have a resource to go to for all questions and buyer-side IT departments are free to focus on their own internal needs. We recently spoke with an Account Representative from Global Manufacturer SMC to hear about his experience adopting SourceDay and learning the platform in only an hour.

Trying to dig deeper? The SourceDay sales team joined the conversation and weighed in on what causes supplier portals to fail. Learn more on the topic in the full webinar.

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How to Make Procurement More Customer-Obsessed

In Forrester’s webinar Direct Procurement’s Digital Transformation, SourceDay’s COO Clint McRee joins Duncan Jones, Principal Analyst at Forrester Research, for a discussion on modernizing and refreshing the procurement process through automation. Jones and McRee cover problems in the standard, i.e. manual, procurement system, issues modern procurement leaders face, and the importance of running a ‘customer-obsessed’ enterprise.

As McRee explains in the webinar, there are gaps in the manual procurement system that cause manufacturers to spend large amounts of time outside of their ERP systems fixing issues. While discussing a solution, Jones expands on the idea of a system that follows the same rules as the employees:

Wouldn’t it be great if you could train software to move a transaction automatically from the transition stage to a supplier…that can create a small number of exceptions that the human beings focus on. Instead of wasting their time rubber-stamping transactions that were perfectly fine, they can spend their time looking at genuine exceptions and spend more time making business decisions.

Duncan Jones, Forrester Research

Automating the PO management system is a step in the right direction towards the ultimate goal of “moving the business from a more tactical or transactional world to a more strategic level of purchasing,” says SourceDay’s McRee. “Getting away from the day to day transactions that can be automated would free up teams to work on strategy.”

Modernizing your supply chain through SourceDay allows for more productive communication between manufacturers and suppliers. It is the first step in closing the gaps in communication and running a more efficient business focused on customers.

We’ve been talking about automating the supply chain for a very long time but it’s been a slow-moving process. Today, more than ever – with the tools that are in the industry, like SourceDay, we have the ability to do that.

Register to learn more about procurement’s digital transformation and the importance of being customer-obsessed in the full webinar!

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Learn How Global Supplier SMC Saved 5 Hours a Week

As an account representative for a major global supplier, at any given moment you’re juggling dozens of open purchase orders that require updates to prices, quantities, lead times, delivery dates, and more. Your ability to keep track of these changes impacts your company’s bottom line and determines if your customers receive what they ordered on time.

Have you ever considered another way to keep track of all of these open orders outside of spreadsheets, sticky notes, and emails? How many hours could you save not digging through messages to find a specific request or change on a single purchase order?

Meet Kenny

As an Account Representative for the global supplier, SMC Corporation of AmericaKenny Zielinski knows this struggle all too well. In an effort to track order changes, Zielinski spent hours each week sifting through emails. On average, his largest account would send 8 purchase orders per day, each with multiple line items, precise specifications, varying due dates, and multiple changes–all piling up in his seemingly never-ending inbox. But, after abandoning his manual process, Zielinski estimates that he saves an hour per day.

When his largest account automated their system and adopted SourceDay, they asked him to reconsider his own PO management process and join them on the SourceDay platform for free.

We sat down with Zielinski to learn more about how he started using SourceDay and how it has helped him.

“Like many suppliers, I was using four separate systems to keep track of all of the orders, acknowledgments and communications with my customers – spreadsheets, email, phone and texts…While the combination of systems worked, I was limited with what I could do to manage open orders and communicate with my customers.”

Changing lives

The idea of automating these manual tasks with a software solution certainly struck a chord with Zielinski. He had been eager to find a less manual process for quite some time. Because his largest account had already purchased SourceDay, as their supplier SMC Corporation, was able to use the interface for free!

Zielinski learned the SourceDay interface after only an hour. He began receiving alerts regarding late orders, urgent requests, and updates on PO acknowledgments. With real-time data coming through, Zielinski could shift his attention from constantly cross-checking systems for updates, and spend more time focusing on relationships with his customers.

Everything is in one place, visible to me and my customer so there is never a risk for miscommunication or a missed item. I cannot think of a single thing I was doing before that hasn’t been improved with SourceDay.

Kenny Zielinski, SMC Corporation of America

Since adopting Sourceday, Zielinski has more time to interact with, build, and maintain relationships with his customers. Get to know his story better and read the full case study.

Learn more about SourceDay’s SaaS solution and how we help manufacturers and distributors, like SMC Corporation, improve their supply chains and grow their businesses.

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