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Supplier Information Management (SIM)

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Focus Area: Purchase to Pay
Publication Date: 09/01/2013

Introduction

Many companies have hundreds, even tens of thousands of trading partners across their organization and face significant business risk and financial cost when vendor master data is inaccurate or not maintained. According to Spend Matters, “the lack of consistent, high-quality supplier information is costing the typical Global 2000 company tens to hundreds of millions of dollars annually.”

Research reveals that one-quarter of Procurement managers spend over half of their time compiling supplier data.  This market analysis report is targeted at organizations seeking information regarding Supplier Information Management solutions to seamlessly manage and maintain relationships with their suppliers, including W-8 and W-9 compliance, new 1099 tax legislation, insurance documents, diversity certifications, and more.  SIM solutions are finally coming of age, and Procurement professionals are hungry for a system that will provide them with an accurate and up-to-date vendor master file, and the critical information needed to effectively communicate with suppliers – ensuring compliance with regulations and internal controls and participation across the supplier lifecycle.

This report is scheduled to be released in Q3 2013.  It will help Purchasing, Procurement, Finance and IT buyers make technology selection decisions as they evaluate new supplier information management strategies and solutions.  This report will spotlight market trends and recent innovations, as well as profile leading technology providers in the space.

Audience

This report is aimed at Purchasing, Procurement, Materials Management, Finance, and IT buyers that make technology decisions, as they evaluate new Supplier Information Management solutions.  This report will spotlight recent innovations and best practices, as well as feature leading technology providers in the space.

Objective