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SourceDay, Supplier Collaboration, and EDI

SourceDay

We often get asked how SourceDay, a supplier portal, and EDI solutions compare. It’s a great question. EDI has been around for a long time and is a great way for businesses to transfer electronic data files between systems without human involvement. How SourceDay and EDI Compare? As we mentioned in a previous blog, EDI …

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What to Know When Choosing an EDI Solution

SourceDay

We run into many companies who are interested in implementing an EDI tool or are already using EDI and “don’t have supplier pain”. Although there are valid reasons to adopt an EDI solution, before you take the plunge, there are a few things you ought to know. EDI, at its core, is data transformation between …

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Easing the Burden of Supply Chain Management

SourceDay

Does this sound familiar?  Your Supply Chain Management staff spends their time on administrative tasks like chasing after late parts or managing poor performing vendors that ironically are critical to your business?  You are not alone.  Most organizations waste too much time on routine administrative tasks when it comes to their suppliers.  Ideally, wouldn’t you like your supply …

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Tips for Successful Vendor Management and Performance Evaluation

SourceDay

All businesses understand how essential Vendor Management is to a company. Creating and optimizing a vendor management system plays a key role in the underlying success of a business. Vendor management boils down to four main components. 1. Successful Risk Analysis: Maintaining a proper vendor file boils down to risk management when it comes to regulating and …

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Purchase Order Automation and Its Impact on Supplier Relationships

SourceDay

We’ve previously discussed six important benefits of purchase order automation. Those with automated purchase order systems can expect improved efficiency, better document management, fewer errors, speedier delivery times, streamlined inventory management, and enhanced decision-making capabilities. All of these things have a direct and positive impact on supplier relationships. Positive relationships with suppliers is critical to a smoothly running …

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Study Shows Cost Cutting is the No. 1 Reason For Switching to Purchase Order Automation

SourceDay

Purchase order automation is becoming standard among organizations across all industries and business sectors. The Institute of Financial Operations (IFO) publishes its AP Automation Study each year to report emerging technologies and best practices in the purchase order and accounts payable arena. Not surprising, the 2013 report indicates that organizations are continuing to reduce the amount of paper and …

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