India-based Automotive Manufacturer Leverages Vendor Management Solution
- Consumer Products
- Engineering, Construction, and Operations
- Government
In an effort to improve its operations, an India-based automotive manufacturer contacted Raapyd to request its vendor management portal. The move comes in anticipation of streamlining vendors and suppliers while focusing on the core expansion of its operations in the country.
Raapyd is a future-forward digital transformation company that takes a holistic and comprehensive approach to the company’s demands. The SaaS-based platform is a digital transformation catalyst, enabling seamless digital automation across business activities.
Why Vendor Management?
A vendor management solution is a structured technique firms use to manage suppliers or vendors. It comprises several systematic procedures, including cost control, risk management, vendor selection, contract negotiation, and service delivery assurance.
Vendor management services include identifying and analyzing possible vendors based on predefined criteria to reduce costs and risks connected with vendor relationships.
With the automobile manufacturer switching to a vendor portal, the company can easily:
- Streamline the vendor onboarding and management process from a centralized dashboard.
- Enable effortless storage and management of vendor contracts and other documents in a secured manner.
- It helps manage performance and assure compliance with corporate rules and external requirements, enabling risk assessment and mitigation connected with vendor relationships.
- Improve communication and cooperation with vendors by integrating messaging and collaboration technologies.
Success Following Implementation
Following the implementation of the vendor management solution into its workflow, the automobile manufacturer was able to navigate through its sales process with transparency. With all the vendors listed over a centralized dashboard, it became easier to maintain a seamless flow of operations at multiple levels.
The manufacturer saw a change in its operations within the first month, and following the implementation, it witnessed better revenue and customer inflow.
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