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Supplier Risk & Performance Management

Simplify supplier management and mitigate third-party risk

Scanmarket Supplier Risk & Performance Management software helps you centralize all supplier data, minimize unnecessary manual work, reduce operational risk and the risk of non-compliance within the supply chain.

 

 

The Strategic Importance of Third-Party Risk Management

Make fully informed choices through pre-defined automated supplier due diligence processes and approval workflows to meet your risk criteria.
Assessing vendors is seamless through the integration with corporate risk databases (including Dow Jones, Lexis Nexis, and Refinitiv). Carry out automated screening of company and key individuals’ names to check against global sanctions lists and records pertaining to financial crime, corruption, politically exposed persons, workforce disputes, environmental issues and more.

 

Simplify Vendor Risk Management

Invite your suppliers to register through the supplier portal to enter and maintain their own data, accreditations, and certifications, reducing your supplier management workload by up to 65%.  Your suppliers will benefit significantly, as they will only need to provide the information once for all RFI/RFPs, and your colleagues will have full access to supplier data across the business.

Gain Deep Visibility of Your Supplier Base

Easily access, report on and interrogate all supplier data and documents from one central repository, with configurable dashboards and numerous supplier segmentation options.

Protect Your Reputation and CSR Profile

Enforce and track supplier compliance against all key areas, from anti-slavery and child labor to full environmental, CSR, sustainability, and corporate governance.

Continuous 3rd Party Risk Monitoring

Automated tracking and identification of any change in risk profiles will give you time to evaluate the potential impact on your business and plan how to mitigate the risk.

 

Centralize Supplier Information and Supplier Performance Management

Keeping supplier data up to date is of equal interest to you and your suppliers, so why not simply make it a collaborative effort?
Just centralize all supplier data and ask your suppliers to keep their relevant information, accreditations, and certifications up to date, benefitting stakeholders in both camps and fostering supplier relationships. Scanmarket’s Supplier Risk & Performance Management software is equipped to distribute questionnaires that can be linked to sourcing events.  Expedite the decision-making process by tracking and accessing supplier performance in one centralized location. Use scorecards and instant KPI tracking and reporting to elevate your entire buying function.

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Key Supplier Risk & Performance Management functionalities

    Centralized Supplier Base

    Easily access, report on and interrogate all supplier data and documents from one central repository, with configurable dashboards and numerous supplier segmentation options.

    Supplier Management

    Remove 65% of the manual workload with automated workflows and messaging. Make adding new vendors easier with supplier self-managed onboarding and quicker assessments with automated questionnaires and autoscoring.

    Compliance

    Enforce and track supplier compliance against all ESG-related areas: anti-slavery, child labor, CSR, sustainability, corporate governance, etc.

    3rd Party Risk

    Identify any change in risk profiles with automated alerts. Notifications allow ample time to evaluate the potential impact on the business, and to plan how to mitigate the risk.

    Auditing & Reporting

    Track user activity in system logs and user timestamps. Pull reports and conduct full audits of all information throughout the entire relationship with any third-party.

    Fraud Detection

    Detect and prevent fraud, contain costs, and protect revenue critical information about people, businesses, and assets with incident management feature.

    Security & Background Profiling

    Get comprehensive security checks and background profiling with connected external risk and corporate information databases such as Dow Jones, Refinitiv, LexisNexis, Dun & Bradstreet.

    Identity Management

    Protect your corporate reputation while running your business securely and profitably by better understanding your customers, vendors, and partners.

    Data Integration

    Collect, consolidate, and explore any data - from spreadsheets to databases, ERP systems, P2P tools, and payment cards.

    Intelligent Questionnaires

    Identify risk with potential new business relationships from the beginning using intelligent questionnaires. Build the questions around your most important issues and assess responses to determine the level of risk you are willing to assume.

    500+ Happy Customers

    Scanmarket’s software is built to make S2C management as simple as it should be.
     

    Associated British Foods
    Assa Abloy
    Novozymes
    Fazer
    Pandora
    Intersnack
    ISS
    ULTA BEAUTY
    US bank
    Marston's
    Anglian Water
    Emirates Flight Catering
    Levi's
    BOLIDEN
    Orkla
    Accor
    Liberty Global
    Grundfos
    Würth
    Alfa Laval
    Bacardi
    HEMA
    Medica
    Coop
    Nespresso

    The Benefits of Using Scanmarket Supplier Risk & Performance Management

    • Reduce supplier management costs by >65%

    • Gain enterprise-wide transparency to supplier activities including documents, event history and contacts through centralized secure administration of third-party profiles

    • Empower suppliers to maintain up-to-date profile information

    • Speed up assessment, qualification and on-boarding of new suppliers

    • Obtain visibility into hidden risks and potential hazards such as criminal convictions and investigations, sanction lists, bankruptcy records, real estate transactions, ownership data, and any potential data breach

    • Increase speed of decision making

    Challenges Scanmarket Supplier Risk & Performance Management Solves

    Inefficient manual processes

    Automate repetitive tasks, like onboarding suppliers and maintaining data and certifications.

    Dispersed supplier data

    Centralize and share a repository of all suppliers across all company sites and business units.

    Lack of compliance

    Automate and enforce compliance requirements and updates.

    Unable to compare supplier performance

    Manage suppliers through use of scoring and certifications.

    No visibility to 3rd party risks

    Screen suppliers and business partners through the use of 3rd party data providers such as LexisNexis, Dow Jones and Refinitiv.

     

     

    Scanmarket is Loved and Trusted by Customers

    SotwareReviews asked real users what they thought about using Scanmarket and the value they received, here is what they had to say.
    Download Report

    How Much Does Scanmarket Cost?

    Companies of every size and type, from medium-sized manufacturing businesses to enterprise-level service organizations have made the move to Scanmarket. Looking for a better way to run your source-to-contract processes but wondering about the cost?

    Users subscribe to Scanmarket for an annual license fee. Your license is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for the initial setup. As your business grows, you can easily activate new modules and add users — that’s the beauty of cloud software.

    24/5 customer support is included with the Scanmarket platform license.

    Book a Demo

    Resources

      Data Sheet

      Download to gain more insights into SRPM

      Download

      Customer Stories

      Spark ideas with success stories from Scanmarket customers:

      Holcim

      Scandlines

      Emirates Flight Catering

      Associated British Foods

      Webinars

      View our on-demand webinar, which delivers insights from Scanmarket and industry experts:

      The Future of Procurement: Treating Suppliers as Partners, Not Just Cost

      Watch Now

      Essential Learning

      Discover best practices and learn more about strategic sourcing:

      Whitepaper - Procurement's New Imperative: Driving Value with Strategic Third-Party Risk Management

      Book a demo

      Scanmarket's S2C Procurement software is built to be used.
      See for yourself how advanced technology can be as simple as it should be.

      Frequently Asked Questions

        What is the most efficient way of securing compliance?

        Automate maintenance of supplier certifications, documentation, and scoring by transferring the responsibility for updates and verifications to your suppliers.

        Monitor compliance with full visibility of supplier activity including contracts, event history, contact information, certificates, files, communications, and more. With Scanmarket's Supply Risk & Performance Management software, all supplier data is readily available with reports, notifications, and flag alerts for non-compliance issues.

        You no longer have to chase suppliers for data updates. Suppliers simply log in to update their information and certificates directly under their profile and receive automated expiry reminders.

        Which tools do you integrate with?

        Integrate with enterprise resource planning (ERP) tools and other master supplier data to include all relevant information about goods and services being sourced.

        Customize integrations with seamless data flow for solutions such as ERP, DocuSign, P2P, eSourcing, Contract Management, Risk Management, and more.

        How does automated supplier onboarding work?

        Provide a link on your company website for interested suppliers to register on your database, or issue a link via email. Scanmarket's Supply Risk & Performance Management software verifies email addresses for security purposes and confirms the completion of required registration questionnaires.

        Automated notifications let the relevant users know once a new supplier has registered. Review new suppliers and accept or reject them based on scoring thresholds, transferring them automatically to the supplier database.

        The automated onboarding process saves time and requires fewer people in the initial screening, and offers a standardized approach toward all suppliers.

        How can I improve my tender workload?

        Reduce tender workload by up to 80% with supplier score tracking to gain visibility of all supplier information. Customize your supplier surveys with scorecards, KPIs, and more to compare suppliers from a 360° view.

        Scanmarket's Supply Risk & Performance Management software provides transparency for all buyers using the same supplier and enables proactive supplier management.

        Which type of support do you provide?

        We provide 24/5 Quick Call support for your internal users and suppliers.

        Quick Call support is not like your typical support desk. With Scanmarket, you have direct access to our global team of expert source-to-contract consultants who can resolve your issues rapidly. We often hear from our customers that Scanmarket's Quick Call support is the best in the industry.

        Quick Call support is available to customers, suppliers, and other stakeholders. 85% of Quick Calls are answered in less than a minute, and 95% are answered within five minutes.

        Request Quick Call

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