Solving the issue: Recurring costs and time dedicated to pre-qualification processes

So we decided to create a shared Vendor Registration system, that is free-of-charge for Vendors and unlocks value towards multiple Buyers.

 

Suppliers have two ways of potentially entering into a business relationship with Buyer organizations: external supplier registrations or internal supplier registrations. Having to complete multiple registrations is costly in terms of dedicated resources, opportunity cost, and real economic costs in some cases (e.g. external third parties or Buyers themselves who require a fee).

Through the SupplHi digital ecosystem we have introduced a shared Vendor Registration system that is free-of-charge for Vendors and which multiple Buyers leverage on. This way we are providing Vendors with more visibility through the supplhi.com platform and the only “investment” to be made by Vendors is the time required to complete the Vendor Registration process inserting the data correctly and keeping it updated over time.

Registered Buyer organizations may review the registration process and data inserted by Vendors through the online platform by visiting the dedicated company page. This way they may determine if they want to consider each Vendor as a new source of supply sharing Tenders or sending RFIs.

Furthermore, we have, through continuous improvement and implementation of user feedback, made the process as user friendly as possible. Vendors can save their in-process progress if they need to gather requested information and return to submit the registration later. Upon User Registration the company name, information, and tax identifiers are verified against existing Vendors to prevent duplicates from being created.

The outcome of the review is either approved or rejected by the SupplHi Team:

  • Approved: Automatically creates a supplier record from the registration and makes the company’s profile page visible to Buyers online. The Vendor is notified of the successfully completed process.
  • Rejected: a request for clarifications is sent to the Vendor and the profile is not yet made available online.

Other than allowing Vendors the advantage of entering all required information and submitting the registration request only once, SupplHi is constantly increasing the number of Buyers leveraging on the ecosystem, creating more and more opportunities for everyone involved.

To view an example of our existing users please visit our homepage www.supplhi.com under the “Already Part of Our Ecosystem” section.