resolvr:SIM™ (Supplier Information Management) ensures your company maintains an up-to-date vendor master list through supplier self-service and cutting-edge data collection. When using resolvr™, suppliers are asked to authenticate their details – resolvr:SIM™ captures the supplier responses via chatbot or email communication, and then uses API collection tools to validate the data.
Advantages of using Supplier Information Management:
- One source of up-to-date supplier data
- Reduces supply risk
- Improves supplier engagement
- Reduces duplicate payments, duplicate records and fraud
- Improved visibility over supply chain activity
- Reduced costs
- Manage notifications and compliance initiatives
By using resolvr:SIM™ to update supplier information, you will no longer have to chase suppliers yourself or engage in an arduous vendor master update campaign. By keeping this data up-to-date, you will improve relations with suppliers and provide a base for on-going improved communications. This in itself will allow you to manage other initiatives such as compliance checks, or notifications to your supply base. You will also have a stronger data set to help control duplicate payments and fraudulent activity.