SourceDay-Restores Trust Between Its Players By Removing Waste And Errors Created By Archaic Manual Processes

OUR STORY

Supply chains are notoriously complex and untrustworthy. Manufacturers and distributors are constantly struggling to meet order due dates and other customer requirements due to outdated supplier and buyer collaboration processes. The problems this causes spread throughout an entire organization, resulting in stress and inefficiency in procurement, IT, finance, sales and customer service teams. When you consider the chaos most companies manage, it’s a miracle finished products ever ship on time. In fact, companies like Ford and KFC know all too well how devastating the impact supply chain failures can have on a  business. SourceDay modernizes the first mile of the supply chain and restores trust between its players by removing waste and errors created by archaic manual processes.

By freeing buyers and suppliers from cumbersome email threads, spreadsheets, and mountains of sticky notes, SourceDay dramatically improves a manufacturer’s ability to maximize margin and meet customer commitments on time. With a comprehensive SaaS platform that improves collaboration and gives mutual visibility and accountability between buyers and suppliers, SourceDay automates purchase order (PO), request for quote (RFQ) and accounts payable (AP) processes. By seamlessly integrating with all major Enterprise Resource Planning (ERP) systems, the SourceDay platform extends the ERP and ultimately improves business performance.

According to Kenny Zielinski, client-supplier with SMC Corporation of America, “SourceDay consolidates procurement into a single system. It’s the ideal buyer-supplier collaboration tool.”

Let’s take a look at some of the top features offered within the platform:

Tom Kieley CEO

Clint McRee COO

PO Collaboration
SourceDay customers are able to digitize and standardize communication between
buyers and suppliers, with all changes and exceptions to delivery dates, lead-times, pricing and quantities updated in real-time and immediately fed into any ERP system. This gives the whole business visibility to the first mile of the supply chain—eliminating a big source of bad data and distrust.

Request for Quote
SourceDay also helps manufacturers and distributors streamline the RFQ process. SourceDay’s RFQ tool provides users with a unified view of all of the suppliers they are looking into to help fulfill an order. The platform tracks and historically stores which suppliers have responded and which have provided the best offers, allowing SourceDay customers to make informed decisions without hours of manual effort or guesswork.

Document Control
SourceDay’s platform automates the sharing of all types of documents between buyers and suppliers. This functionality ensures that everyone involved in fulfilling an order has the latest version, complete with tracking and alerts.

Supplier Scorecard
One of SourceDay’s most popular modules is the Supplier Scorecard. These scorecards measure supplier performance in real-time on the details that matter most to manufacturers, like price variance, on-time delivery, quality of products, and responsiveness.

Onboarding and Support
SourceDay customers are consistently amazed at how quickly they can implement SourceDay’s solution. The onboarding process takes weeks, not months like many other products on the market. On top of that, the implementation requires very minimal IT involvement and SourceDay provides continuous support for the platform.

“SourceDay paid for itself in less than three months,” said Jean-Louis Marin, VP of IT at Napoleon Products.

Tina Grow, IT Director with Rocore, said, “SourceDay has changed everything in the best possible way. Grading suppliers through scorecards is now completely automated. We can see shipping dates, shipping confirmation, what orders are hot and which vendors need a prompting – all in one place, visible to all stakeholders.”

Unlike supplier portals of the past, SourceDay has solved the challenge of supplier adoption, and 90% of customers’ suppliers use the solution. This success results from SourceDay’s focus on delivering value to the suppliers in the product and through supplier-focused onboarding and training programs. Once suppliers start using SourceDay, both sides reap the benefits of a real-time and accurate view of price, quantity, lead times and delivery dates. improved efficiency, visibility, and accountability. This is what stops the all-too-common, costly surprises in factories and allows manufacturers to ship more orders on-time, ultimately equating to more loyal customers.

Since 2015, SourceDay has helped over 100 manufacturers and 4,000 suppliers process more than 20 billion dollars in purchases. Reflecting on the origins of SourceDay, founded by Tom Kieley and Clint McRee, Kieley said, “Prior to founding SourceDay, Clint and I spent years fully immersed in the manufacturing and supply chain world. We grew more and more frustrated with the unnecessary costs, increased risks and wasted time caused by rocky supplier relationships and ERP systems that were full of errors. SourceDay was born because we were determined to build a solution that eliminated waste and ultimately rebuilt trust between manufacturers, distributors and their suppliers.”

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