Strategic Sourcing helps manage entire sourcing, contracting, and spend analysis processes for materials and services.

The Supplier Risk solution allows users to configure risk views and alerts for each supplier relationship and role. It can quickly analyze articles, stories, and feedback in SAP Ariba and segment suppliers based on up-to-date information.

The Supplier Management module evaluates existing suppliers and helps engage with new ones based on your unique spend management needs.

Let us look at the core components a little more in detail. New operating models, organizational constructs, and metrics help businesses embrace and nurture the new capabilities to meet heightened customer expectations. Solutions that aid digital procurement and spend management allow organizations to effectively deliver on their primary objective by transforming processes at a reduced cost. This financial burden is the highest in the United States, with an estimated average annual cost of about $228 million.

The advent of the digital era has directed organizations to focus on optimized spending management and supply chain processes as it helps businesses achieve higher profit margins and strengthen market competitiveness.Īccording to a survey by Statista, supply chain disruptions cost organizations around the world an average of $184 million per year. Businesses have understood the importance of having a 360-degree view of their internal processes to manage them better.

In the post-COVID world, enterprises are looking for technology to build resilience and agility in their supply chains. In the early years, the procurement process was about stocking supplies to keep a business running besides creating and maintaining long-lasting relationships.

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