Reduce risk and improve efficiency with Medius Supplier Management
Medius Supplier Management helps you quickly onboard new suppliers and easily maintain accurate supplier data. Save precious time, regain control of your supplier data and reduce the risk of engaging with suppliers who don’t have the appropriate accreditations in place.
Why Medius Supplier Management?
Save time
Reduce the time and effort it takes managing suppliers and entering their data with SRM software. Let your suppliers upload and maintain their information in our self-service tool, so you will have time to focus on your core tasks.
Reduce risk
Our vendor management system captures key details and regulatory requirements, ensuring your master data remains accurate and compliant.
Improve supplier visibility
Our integrated supplier portal provides complete visibility to all spend transactions for your supplier, as well as providing an easy way for them to manage their information.
Take control of supplier master data, reduce risk and manage performance
Common challenges you face
In 2021:
- 56% of CPOs said that key suppliers have gone bankrupt or are severely hampered*
- 41% of CPOs said they had to expedite shipping to keep critical supply lines flowing*
- 36% of CPOs said that suppliers are failing to meet new requirements*
*Source: Deloitte: 2021 Global Chief Procurement Officer Survey
Risks of not having a solution in place
- Missing or unknown status of required credentials for your suppliers
- Suppliers who are non-compliant or high-risk fall through the cracks
- Inability to identify impending risks and areas for improvement
- Too much time spent on non-value-adding tasks
Rewards of the Medius Supplier Management solution
- Supplier self-service onboarding with minimized data entry
- Minimize risk by having suppliers enter their accreditations, certifications, and other necessary information risks and protect your financial health
- Help to maintain a positive vendor supplier relationship
- Experience the time savings and benefits right away – it’s easy to get started with supplier management software with quick user adoption
Common challenges you face
In 2021:
- 56% of CPOs said that key suppliers have gone bankrupt or are severely hampered*
- 41% of CPOs said they had to expedite shipping to keep critical supply lines flowing*
- 36% of CPOs said that suppliers are failing to meet new requirements*
*Source: Deloitte: 2021 Global Chief Procurement Officer Survey
Risks of not having a solution in place
- Missing or unknown status of required credentials for your suppliers
- Suppliers who are non-compliant or high-risk fall through the cracks
- Inability to identify impending risks and areas for improvement
- Too much time spent on non-value-adding tasks
Rewards of the Medius Supplier Management solution
- Supplier self-service onboarding with minimized data entry
- Minimize risk by having suppliers enter their accreditations, certifications, and other necessary information risks and protect your financial health
- Help to maintain a positive vendor supplier relationship
- Experience the time savings and benefits right away – it’s easy to get started with supplier management software with quick user adoption
Reduce risk with a clear picture of who your suppliers are
A centralized hub containing all your suppliers’ details
Medius Supplier Management is designed for your suppliers to onboard and then update their information via a dedicated self-serve portal. For your team, this means no more time spent updating crucial supplier information, and improved accuracy of vendor data.
All this is cloud-based, ensuring you can access the data anywhere, anytime, reducing the risk of data loss.
Tools to streamline supplier management
Our supplier management system helps you accelerate onboarding, minimize manual data entry, simplify supplier comparisons, and streamline supplier communications to make your vendor management process more manageable.
It contains tools to help you store and validate supplier credentials during onboarding. For instance, deep integration with Dun & Bradstreet helps you understand and evaluate risk.
Evaluation tools to manage supplier performance
With our supplier relationship management features, you can keep on top of supplier performance, managing supplier review processes online, and eliminating the time-consuming manual work of collecting feedback.
Rapidly build buyer surveys and scorecards to measure supplier performance against key metrics, to quickly compile internal feedback, as well as your supplier’s input.
The benefits of Medius Supplier Management
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Improved supplier data without the hard work
Easily streamline the process of managing your suppliers, from initial setup through ongoing management, providing them complete visibility to their work with you, so you can remove resource-heavy manual tasks. Allow suppliers to upload their information in our self-service portal to capture key vendor details, including regulatory requirements and certifications, with robust questionnaires. Medius ensures your master data remains accurate and compliant at any time.
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Easy to get started and easy to use
Medius Supplier Management can be deployed in combination with other modules in the Medius Spend Management suite or as a standalone solution to solely manage your supply base. Our software is intuitive, easy-to-use and will be adopted by your procurement team and suppliers in no time at all.
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Less inquiries and a smoother invoice process with our supplier portal
With our secure, cloud-based portal you can give your suppliers complete access to view purchase orders, send invoices, and check the status of transactions including payments. With this information at their fingertips, you don’t have to spend time answering questions about the status of POs, invoices, and payments.
When suppliers submit invoices directly through the portal these can be processed right away without any manual work. You can even let suppliers flip a purchase order into an invoice, allowing for automatic matching to ensure the invoice gets processed and paid in the shortest possible time.
Medius Supplier Portal
A secure management system based on a supplier network simplifies business processes, communication, and enhanced efficiency for spend management. It is a place for your suppliers to register, record, and update their details in a single, cloud-based location, helping you gain control of all your supplier data visibility.
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Common challenges you face
- Endless hours spent back and forth with emails and calls to maintain supplier details
- Tedious to respond to supplier inquiries on PO, invoice, and payment status
- Cumbersome with corporate updates or request essential information like CSR or GDPR policies
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Risk of not having a solution in place
- The lack of having accurate data from your suppliers
- The time wasted in manually entering supplier information
- Having to answer supplier questions daily
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Reward of having Medius Supplier Portal
- Simplify master data management to reduce risk of data entry errors
- Save time and money by improving supplier self-service
- Enhance supplier-chain efficiency by faster invoice processing
Don't take our word for it. Hear from our clients.
We work with over 4,000 suppliers and contractors and Medius significantly enhances our supplier risk management processes, ensuring only those with the appropriate certification can work with us.
Matthew Paul
Group Commercial Manager at Barratt Developments PLC
Supplier management software FAQs
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What is supplier management software?
Supplier Management software integrates with your payables and procurement processes, providing an end-to-end solution that lets you manage supplier information, lifecycle, performance, and risk all in one place. It entails elements that make both supplier information management and supplier relationship management more seamlessly accessible and less prone to errors.
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How does supplier management software work?
Supplier management eliminates the need for the costly and time-consuming process of managing suppliers' information. It is vendor management software that puts the onus of the supplier to onboard and maintain their details in a secure, self-service online portal.
Supplier Management captures key vendor details based on vendor type, including thorough questionnaires and detailing regulatory requirements. This will ensure that your master supplier data will remain both compliant and accurate, protecting you from the risks of working with non-compliant suppliers.
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What are the main functions of supplier management software?
With Supplier Management software, you will have all your suppliers in one location, visible to you ensuring who you are working with meets your stringent requirements. The main functions are:
- Up and running in weeks, not months
- Supplier self-service removes the effort & cost from the buying organization
- No integration with your ERP needed
- Reduces risk of trading with suppliers that do not pass due diligence process
- Eliminate the need for paper-based supplier management system
- Standard integration with third-party suppliers