SIM Content

Supplier Management Musings: Technology Requires Change Management — Aravo, SEC Regulations, Dodd-Frank, MDM and More (Part 2) [Plus+]

SIM, done right, is anything but vendor management set in concrete. It’s malleable. It can evolve with regulatory regulations and compliance needs. It can incorporate the ability to manage supplier information on a multi-tier level. If you’re looking for a quick patch to Dodd-Frank or FCPA, perhaps you might be able to adopt a band-aid type solution. But such a model is not an extensible approach, whereas SIM can grow with your organization just as core financials within ERP can grow to add new P&Ls and business lines.

Supplier Management Musings: Technology Requires Change Management — Aravo, SEC Regulations, Dodd-Frank, MDM and More (Part 1) [Plus+]

Advanced SIM solutions, including Aravo’s, go beyond supplier onboarding and also address broader supplier risk management, reporting, and integration capabilities for Master Data Management (MDM) initiatives and far more. Aravo’s SLM solution (as all on-demand/SaaS/cloud solutions delivered remotely over the web fundamentally must be to stay relevant) is fully enabled to incorporate (i.e., integrate) data from ERP, P2P, performance management, contract management, legacy and other systems that either gather or consume data tied to vendor activities.

“Be Smart About” – Supplier Information Management Solutions [PRO]

This Spend Matters PRO “Be Smart About” piece aims to give you a head start in preparing yourself and your company for modern SIM solutions. It covers what some of the best practices look like, and how to engage more effectively with solution providers. Perhaps you already know that your ERP system’s vendor master isn’t really cutting it in the supplier information management (SIM) area. Or you’ve been to a few trade shows, probably even seen a solution demo or two, and now you’re excited about the possibilities with modern SIM solutions. But which tool to select? What to ask for? What is really important in a solution and in a solution provider over the long haul? With all the excellent SIM solutions in the market place, how should you come up with the right criteria to help build a list of vendors for the final selection round? Here’s a quick tip: the answer is not found in a weighted scorecard fed with responses from a 500-question spreadsheet around features. So what are the most important Be Smart tips for SIM?