Chances are one of your suppliers merged, changed its name, or relocated today. Will your company react to the change in all the right places? As you source across multiple business units, locations and systems, how will you cope with duplicate or inaccurate information in a hodgepodge of data sources?
Perhaps you need a better way to manage information about current and prospective suppliers. Supplier information is often distributed in different parts of the organization, at corporate level, division level, site level and most of the time in multiple systems which are not always interconnected, making it almost impossible to have a clear perspective at an aggregate level. Supplier Information Management is all about the "single point of truth", allowing an enterprise to aggregate, collect and maintain the information from all distributed systems within the organization, to offer a consolidated view of supplier data, process status and relationships. This goes beyond traditional master data management systems, which just look at one aspect of maintaining the golden supplier record, to leveraging all information from one place enabling Finance and Sourcing professionals to quickly find insight and opportunities.

supplier data management provides comprehensive functionality to collect data from a variety of sources in a variety of areas, such as risk, compliance, performance and CSR and Sustainability, in such a way to leverage data collection efforts across sites, without duplicating what already exists in other systems. By cleansing and enriching your supplier data, supplier data management technique enables you to leverage your buying power and reduce costs.