Future-proofing business through Supplier Data management and governance

For an organization to have a holistic business strategy, they should look beyond the traditional role of suppliers as providers of goods and services. In this Digital Era where boundaries between businesses are increasingly blurred, it’s advantageous to build a collaborative relationship with suppliers as they’re an integral part of your procurement and supply chain processes. This starts with the management and governance of supplier data. To manage this complexity of hundreds of suppliers MDO Supplier is helpful.

Cargo ship or container ship to import and export products worldwide
MDO Supplier
Master Data Online (MDO) has the specific industry solution to manage your supplier data and address issues pertaining to data security, risk mitigation, and effective collaboration. What’s more – MDO enables you to harness this data to strengthen your supply chain and strategies, effectively future-proofing your business success.

Supplier Data Management Challenges

No Systematic Supplier On-Boarding

  • Complex and time-consuming, causing the delay of procurement process and receiving of goods and services

Not Able To Do Supplier Verification

  • Reduced footprint of multiple cloud apps for discrete business processes. including the complexity that comes with it

No Collaboration And Ownership Of Supplier Data

  • No functionality to upload and view attachments, certifications, and licenses to facilitate effective collaboration.
  • Manual/Excel-based supplier data entry, done internally before uploading to ERP/SAP. No access for suppliers to check accuracy of important details like bank data — prone to human errors.

No Supplier Classification

  • Not able to classify suppliers according to qualification and strategic importance — knock on impact to any governance initiatives

No Data Security

  • No compliance with GDPR to grant consent/non-consent of privacy information.
  • No system for data protection — vulnerable to security threats.

No Quality Assurance Of Supplier Master Data

  • Lack of data governance and quality checks leads to duplicates and redundant supplier data — no way to establish confidence in own data.

MDO Supplier Solution Areas

MDO Supplier Solution encompasses key processes of on-boarding, governance, collaboration, and risk and performance assessment. It enhances supplier-related functions, working in sync with other ERP and Procurement systems. It has encryption capabilities for data protection to comply with GDPR

KEY PROCESSES OF ON-BOARDING

GOVERNANCE

COLLABORATION

RISK

PERFORMANCE ASSESSMENT

MDO Supplier Solution - Key Areas

SUPPLIER ONBOARDING

Enable seamless supplier On-boarding with defined processes and forms according to their respective areas.

Features include:

  • Workflow processes for approvals
  • Validation of supplier data against credit agencies (Dun & Bradstreet) and tax authorities
  • Integration with ERP/Procurement/other Master Data Governance systems

SUPPLIER GOVERNANCE

One solution for maintaining all supplier data areas, encompassing data creation, change, extend, and deactivation.

Features include:

  • SLAs and audit logs for monitoring and traceability of activities
  • Built-in pre-defined rules
  • Validation of reference datafrom target systems
  • Integration with ERP systems

SUPPLIER COLLABARATION

Enable suppliers to continually maintain their own data as well as putting in attachments and certifications.

Features include:

  • Verification of attachments, licenses and certificates using OCR
  • Upload of price files and catalogs by suppliers to enable punch-out catalogs from SAP, validated against contract agreements
  • Customized vendor interaction processes according to business requirements

MDO KEY DIFFERENTIATORS

DATA
SECURITY

  • Ensure overall supplier data privacy, for example indicating consent/non-consent of sharing data through GDPR forms.
  • Enable masking of sensitive data

VENDOR INTERACTION

  • A one-stop platform for suppliers to do on-boarding, maintain own data, and participate in surveys -allowing them to have self-service functionalities

USER-CENTRIC FUNCTIONALITIES

  • Feature rich to facilitate users in their daily tasks like validation, duplicate data checks audit logs etc.
  • Flexibility in defining different business rules for data creation, modification, etc.

SUPPLIER MASTER DATA

  • Value-added services that include risk data for supplier viability assessment, extending beyond typical master data project objectives
MDO SAP Partner

MDO
ON SAP

  • MDO partners with SAP in areas of master data management and governance.
  • Available on SAP Store, preconfigured with SAP integration

Benefits of Managing and Governing Supplier Data

Mitigate Risks

■ By having supplier credentials and verification from authorities, you manage external risks that can compromise your reputation.
■ Data and GDPR compliance guarantee your accountability and commitment in safeguarding data, avoiding legal implications.

Supplier Performance Visibility

Insights into supplier performance enable partnership with high-performing and reliable ones to meet supply chain demands and support better planning.

Enhanced Efficiency and Productivity

Fast and fuss-free supplier on-boarding leads to quicker procurement process. This ensures timely acquisition of goods/services, minimizing unproductive time and increasing efficiency.

Cost Optimization

Seamless collaboration with complete and accurate view of supplier data enables negotiations of better rates with access to discounts and incentives to drive down costs.

Foundation For Data Culture

■ Establish data ownership clarity and governance through one-stop platform that provides supplier self-service functionalities, with approval workflows and validation.
■ Enable data culture where people trust their data to execute daily tasks, collaborate, and make decisions.

Get in touch

Feel free to drop us a message for any queries that you might have and we would be happy to help and would promptly get back to you.
marketing@prospecta.com