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Introducing SourceDay’s Newest Products – AP & RFQ

SourceDay AP and RFQ Products SourceDay AP and RFQ Products

We’re thrilled to announce the release of our Request for Quote (RFQ) and Accounts Payable (AP) Collaboration products. Now, our RFQ and AP products can be combined with our PO and Quality products for the industry’s only end-to-end, direct spend supplier collaboration solution.

The addition of these new products will let our customers collaborate with suppliers from sourcing parts to paying for them.  SourceDay RFQ streamlines how companies manage RFQs and select the best suppliers. Our AP product automatically matches final purchase order, invoice, and receipt data. Once matched, SourceDay automatically vouchers matched invoices in the ERP, earning early payment discounts and preventing supplier overpayments.

SourceDay’s mission is to prevent the reasons companies miss with suppliers before those misses create problems throughout the business. Our new RFQ and AP products improve our ability to deliver on this promise. Market uncertainty, tariff wars, and labor shortages make it more important than ever for companies to improve visibility and trust in the first mile of their supply chain.”

Tom Kieley, SourceDay CEO

Request for Quote Collaboration

SourceDay’s new RFQ product helps us choose the most competitive suppliers that can meet our product requirements and lead-times, at the most competitive price. On top of delivering a fast ROI, SourceDay took most of the load on our implementation.” 

Josh Owings, ERP Applications Mgr, JR Automation

Now, buyers and suppliers can easily create, deliver, and streamline collaboration of all RFQs in one place. Create and issue RFQs to new and existing suppliers, receive, interact with, and compare quote submissions without ever leaving the SourceDay platform. SourceDay customers can make quicker, more informed purchasing decisions and even notify winning bidders directly in the platform.

Accounts Payable Collaboration

Accounts Payable Product Screenshot

Like many manufacturers, reconciling mismatched invoices has always been a challenge for us. SourceDay’s new AP Collaboration product has saved us money and made our lives easier. We process 95% of our invoices automatically now, which ensures we earn early payment discounts on most of our spend. It’s a smart choice for any organization looking to make a short-term investment that pays you back in just a few short months.”

Louise Mayer, ERP Implementation Mgr, Napoleon

Our AP solution offers a 3-way matching process that quickly identifies and helps resolve supplier invoice discrepancies. You can filter by status and track the entire lifecycle, all in a single dashboard. Buyers can arrange their dashboard to view invoices at any stage of the process (mismatched, matched, vouchered or pending), clearly identify exceptions, and quickly resolve any issues.

Key Benefits of AP & RFQ

There are plenty of benefits for both buyers and suppliers using SourceDay’s AP and RFQ products. Here are just a few of the big takeaways.

  • Faster, clearer communication with suppliers and internal stakeholders
  • Less time wasted on manual tasks that can also lead to mistakes
  • Faster, more accurate processing of RFQs and Invoices to ensure companies always choose the best suppliers and never overpay.

SourceDay’s new AP and RFQ solutions can help reduce costly inefficiencies and streamline supplier collaboration.

See these new products in action and learn how you can start using them today.

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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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