Challenges
- Supplier Discovery is a process that is not documented
- There is no guideline on how to prospect for a new supplier
- The sources used to search for new suppliers don’t provide any kind of information security
- Inaccuracy on the contacts details in order to initiate the connection
How TYS Helps
- Marketplace of suppliers that the buyer can reach out
- User stays in TYS rather than going to multiple sites and programs
- Uses global standard code set for classification of Goods and Services (UNSPSC)
- Suppliers can now be reviewed and easily invited to connect, where comprehensive supplier detail and completed questions can be evaluated in a single aggregated view. Third-party tools such as RapidRatings are included in this view for greater detail and validation
- Accurate contact details available
Outcomes
- An established process to supplier discovery
- Relationship history (timestamps and action taken)
- Supplier prospection in a secure and trusted environment/network
- All information in a single place and reduction of time
Roadmap Horizon
- Reporting & Analytics Dashboard will allow for ratings and other attributes across many suppliers for comparison
- Smart Attributes will be enabled which allows for key ratings and data points from third parties to be searchable
- Planned integrations with other networks like Trade Shift and Source Connect/DMSCA will enable the discovery of the suppliers from the other networks
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QUICKLY DISCOVER TRUSTED SUPPLIERS
REDUCE CYCLE TIME TO ONBOARD
REDUCED RISK AND ATTRACTED COST
