Vendor and product onboarding lead time reduced by 97%
Reduced invoice disputes and faster payments to suppliers
Complete visibility to suppliers on order to pay cycle
Data monetization through Vendor Insights
Direct system integration for EDI with larger manufacturers
Overview The client is one of the largest chains of modern retail stores in Southeast Asia. With over 700 suppliers and 130+ outlets, the client faced multiple challenges in supplier processes.
Vendor and product onboarding processes were discontinuous and tedious leading to over 10 days of lead time.
Product attribute and price modification required 7 days due to manual processes leading to decreased supply chain agility.
Suppliers operated in silos with limited visibility on order to pay cycle.
Invoice and delivery dispute redressal were not streamlined leading to supplier dissatisfaction.
Unavailability of sales, inventory and category insights to suppliers.
With over 200 stores and a 1000+ suppliers planned in the near future, the client saw supplier collaboration as a major value lever in its business expansion. The client strongly felt that a shift in its supplier collaboration approach towards a scalable supplier ecosystem was a major part of this journey.
Simplifying Supplier Management With Vendor Link
Algonomy’s Vendor Link fit in perfectly with the clients requirement of a 360 degree supplier collaboration platform. Vendor Link is a comprehensive web-based vendor and retailer collaboration platform that removes operational silos between vendors and retailers by automating and streamlining end-to-end operations.
Vendor Link enables suppliers to manage their own information during onboarding, reducing paperwork and tedious processes. With guided workflows and status visibility across personas, vendor onboarding and product onboarding processes are streamlined.
Order to Pay collaboration enables electronic document exchange with suppliers at every stage of the fulfillment cycle leading to greater transparency and efficiency. The invoice matching capability reduces processing time, costs, and disputes. With an added capability to create on-demand analytical views for retailers and suppliers, Vendor Link helps in better decision making. In addition, it aggregates data insights for retailers and suppliers which can be used for strategic and tactical purposes.
The ROI of Automated Supplier Management
The client benefited from Vendor Link in the following ways:
With the help of Vendor Link’s guided workflows for vendors and category managers and seamless backend integration, the client was able to reduce the time required for vendor and product onboarding from 10 days to 3 hours.
Suppliers gained complete visibility on order to pay cycle with the help of smart notification and tracking system.
With a real-time triangulation between purchase order(PO), goods received note(GRN) and invoice, the client was able to reduce disputes on supplier invoices.
With backend integrations with suppliers systems, Vendor Link enabled on-demand reports on outstanding payments, stock and other financials for suppliers.
Client was able to monetize data insights on category, sales and inventory and share it with key suppliers.
Vendor Link helped the client transform supplier collaboration from a set of cost-based ad-hoc processes to a digitized and scalable supplier ecosystem with streamlined operations and system-wide transparency.