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Huge time savings

02/01/2012 | Channel: Technology

eProcurement specialist Trade Interchange, has launched a new SIM - Supplier Information Management system that enables procurement professionals to manage and maintain their supplier relationships simply and cost-effectively. It is the first company to offer SIM in a variety of self-service packages.

According to AMR Research, companies that handle their supplier relations manually spend up to eight times more on this than companies that employ technology like SIM.

Procure4, a supply chain management consultancy, is the first customer of the system. Jeremy Bowley, project leader at Procure4, commented: “Trade Interchange’s SIM has helped us to deliver best practice in procurement by keeping our costs down and by providing a more efficient process. When we first used it we reduced the time spent on a project from three weeks to three days and it led to a better deal.”

Simon Brake, CEO of Trade Interchange said: “Our SIM system gives organisations a complete picture of their suppliers, providing instant access to their details in real-time. By handing over the responsibility for the accuracy of the data to suppliers, the system vastly increases the efficiency of data management. This not only saves a great deal of time and resource, it also results in happier suppliers and better deals in the long run. Using SIM, suppliers can simply and quickly maintain details of their organisation, including background information, contacts, capabilities and accreditation, online. Automatic reminders ensure suppliers keep their records up to date.”