By Vijaya George
Vertscape announces that its new Supplier Relationship Management suite will enable organisations to increase procurement efficiency and automate the entire purchasing cycle, from requisition to payment.
E-business software provider Vertscape has announced the launch of a new Supplier Relationship Management (SRM) suite that will enable organisations to increase procurement efficiency and automate the entire purchasing cycle, from requisition to payment. The suite will help companies and their suppliers to integrate sourcing and procurement activities across the entire supply-and-value chain.“The SRM suite facilitates the management and automation of the purchasing function within an organisation to increase procurement efficiency,” said Chirag Patel, director, Vertscape. “The SRM solution suite is guaranteed to lead to mutually rewarding interaction between a company and its suppliers, through real time information, faster response and lower costs,” added Patel.With the new solution, suppliers can access information about adjusted shipments and updated production in real-time by logging on to their extranet. The procedure is completed through a facility to track and control spending, by automating the entire buying cycle from requisition to payment. “It is like a private hub where you encourage and automate transactions within your existing supply relationships without requiring your customers and suppliers to join public marketplaces,” explained Patel.Earlier this year, the company launched an Employee Relationship Management (ERM) suite to automate inter-employee coordination for higher productivity through quick response to customers’ and suppliers’ requirements.