SourceDay
SourceDay is the collaboration engine that brings people, information, systems, and processes together to modernize how companies manage orders with their direct spend suppliers. The solution streamlines the first mile of the supply chain to reduce cost and help companies ship to customers on-time.
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In Their Own Words: SourceDay
The relationship between buyers and suppliers is broken.
Every quote, purchase order and invoice is still emailed repeatedly, updated manually and chased down daily, causing countless errors and discrepancies. Missed updates and errors have ripple effects across the business that can ultimately keep them from meeting customer commitments. In fact, more than 50% of purchase orders experience change that creates risk.
Every manufacturer and distributor works hard to meet their customers’ needs, but the manual processes in the first mile of the supply chain can cause them to miss. Misses waste time and money on expedite fees, excess labor, customer penalties, overpaying suppliers and unnecessary safety stock. Not to mention the chaos and stress of late deliveries, which kills productivity, drains morale, and leads to employee turnover.
SourceDay is a supply chain collaboration platform that drives supplier performance by bridging the gap between the ERP and the supplier network, addressing all of these common challenges. With SourceDay’s suite of collaborative products, entire teams can trace a single part from PO issuance through delivery, giving organizations unprecedented command and control over their businesses. SourceDay has helped thousands of businesses prevent surprises in their supply chains and, in doing so, enabled them to ship billions of parts on time, uncover new cost savings, safeguard revenue, optimize operations and protect sacred customer relationships.
A featured app on the all-new Coupa App Marketplace and one of the first Coupa Ventures portfolio companies—a $50 million fund to foster the next generation of Business Spend Management companies—SourceDay’s collaboration technology gives manufacturers and distributors a better way to manage their direct spend, including quotes, purchase orders, quality control and invoices.
RFQ Collaboration:
SourceDay offers side-by-side RFQ comparisons in a collaborative and digital format that helps you get the best pricing, lead times, and delivery terms. You can send RFQs to multiple suppliers at once, then review submissions in an easy-to-read bid comparison chart. This makes it easy to cherry-pick the best quote and notify all suppliers of your decision.
Purchase Order Collaboration:
SourceDay’s simple interface allows your team to see the status of every line item – on every PO – at a glance. Additionally, it uses automated workflows to help users resolve purchase order changes as quickly as possible. Every PO update to lead-times, delivery dates, pricing, quantities, etc. makes it back into your ERP system in real time.
AP Automation :
SourceDay’s AP Automation matches final PO data with actual receipts to ensure a supplier’s invoice is correct. Once 3-way matching is complete, invoices are auto-vouchered in the ERP. That means you can have visibility to all current liabilities in near real-time, take advantage of early payment discounts, and your suppliers get paid faster.
Quality Control:
Using SourceDay means you can now streamline your inspections by replacing spreadsheets with workflows that live in the cloud. Easily track incoming inspections of parts from every supplier organized in a single dashboard and instantly communicate with suppliers on rejected parts to simplify disposition.
ERP Integrations:
SourceDay’s service team helps you integrate SourceDay into your ERP system in weeks versus the months it takes other solutions to be implemented. Bridging the gap between suppliers and the ERP, SourceDay’s SaaS technology seamlessly connects with all standard ERP systems and is a light lift for IT teams.
Supplier Enablement:
SourceDay is provided for FREE to suppliers and implementation is easy. By automating buyer and supplier collaboration, it makes your business more efficient and helps you strengthen relationships with your customers. Plus, suppliers are enabled to collaborate in real-time for a better customer experience and you get paid faster.
SolutionMap Rankings for SourceDay
Insider members can get detailed information about market fit, capabilities on SourceDay.
Featured Content
The SourceDay solution creates real-time visibility and accountability between you and your suppliers. Plus, it integrates with your ERP system ensuring that pricing, quantity, lead times, and delivery dates are accurate. With automated workflows and accurate information, you can cut your risk.
Supplier relationships should be partnerships. But all too often, miscommunications about PO changes lead to finger pointing. With SourceDay, supplier scorecards are available to both parties and are updated 24/7. Better yet, you can easily review the performance of your entire supplier base at a glance. Set custom grading rules to reflect what performance means to your business.
SourceDay’s built-in, ISO-certified, Supplier Scorecard helps you manage performance and keep your suppliers accountable by measuring metrics like price variance, on-time delivery, quality, and responsiveness.
SourceDay’s Executive Dashboards give executives the ability to visualize supply chain data that would otherwise be hidden and difficult to obtain. These dashboards provide real-time metrics that businesses can immediately take action on to prevent risk and protect revenue.
Enable digital collaboration with your suppliers using SourceDay. From requesting quotes to matching invoices and managing all the changes that happen in between, SourceDay allows you to see all direct spend, down to the line item—and pay special attention to the exceptions that can impact your revenue and create risk.