Are procurement challenges slowing down your business operations? Discover how Dun & Bradstreet’s Vend-R can streamline your processes, optimize supply chains, and connect you with verified suppliers. Dive into the blog below to explore how this innovative solution can transform your procurement strategy and propel your business forward.
Are procurement challenges slowing down your business operations? Discover how Dun & Bradstreet’s Vend-R can streamline your processes, optimize supply chains, and connect you with verified suppliers. Dive into the blog below to explore how this innovative solution can transform your procurement strategy and propel your business forward.
Are procurement challenges slowing down your business operations? Discover how Dun & Bradstreet’s Vend-R can streamline your processes, optimize supply chains, and connect you with verified suppliers. Dive into the blog below to explore how this innovative solution can transform your procurement strategy and propel your business forward.
Procurement teams form the core of the business strategy in every company. Among other tasks, officials in the procurement departments are tasked to achieve optimization of supply chains of their respective organizations. Given their crucial role, they are always on the lookout for alternative suppliers to reduce supply chain risks and effectively deal with disruptions.
Additionally, procurement departments face troubles in finding trusted suppliers, performing due diligence, and improving cost efficiency.
On the flip side, suppliers struggle with securing verification from third-party entities, entering into contracts with companies, and finding new clients. In addition, vendors face difficulties in retaining current customers and acquiring the opportunity to cross-sell their products.
Both parties encounter challenges related to supply chains, optimization of operations, authentication and verification, and achievement of economies of scale.
Adding to their woes, lack of reliable and fresh data, absence of automation of data sources, non-transparent practices, and lack of company information pose further hurdles for them.
Dun & Bradstreet’s Vend-R is a perfect solution for all these problems.
A cutting edge vendor registration portal, Vend-R validates suppliers and gives a complete overview of suppliers to procurement teams.
78% of procurement leaders intend to invest in at least 3 digital procurement solutions
Only 6% of companies report full visibility on their supply chain. 69% of companies do not have total visibility
79% of Chief Procurement Officers are seeking to improve supplier diversity and inclusion
Deep dive into multifaceted functionalities
Vend-R provides suppliers with a registration portal, enabling them to enter company details, upload information, and list their products. Resultantly, the solution presents suppliers with a dashboard that shows a snapshot of their business. This information is then made available to procurement teams.
The online portal supports suppliers in accelerating sales and gives them access to a wide range of local potential customers. Besides, they also gain an insight of the global market, resulting in better access to new customers and lending.
Vend-R assists vendors in securing higher amount of customers, resulting in increased turnover.
In addition, it allows suppliers to be verified by an independent and reputable third party and obtain Dun & Bradstreet’s flagship D-U-N-S number. Vend-R also aids them in implementing transparent policies to gain customers from all across the globe.
Procurement teams are able to obtain a complete overview of their suppliers base along with distribution analysis and company information. Vend-R also provides procurement teams access to Dun & Bradstreet’s database of verified alternative vendors.
This solution allows procurement officials to access a verified, third-party information source to search and onboard verified alternative suppliers. Furthermore, it also empowers them to streamline procurement process with faster turn-around time and view up-to-date information on vendors.
Procurement teams also gain insight into current vendors’ operational and financial strengths and they are able to request quotations through an automated and transparent processes to reach vendors. It also provides insights into a company’s shareholding and management.
The market size of supply chain analytics is expected to witness steep growth over the next few years.
An all-encompassing tool
Vend-R provides clear, concise, and unbiased information to businesses in a bid to ensure proper due-diligence. It also empowers organization to engage with a professional and ethical service provider that respects data security and confidentiality.
Vend-R is a gateway to a universe of validated companies that reduces the dependency of businesses on personal contacts. To reduce risk, Vend-R presents businesses with an assessment of the financial capabilities of its current and potential suppliers. It also scrutinizes potential suppliers to prevent fraud and reduces dealings with unverified vendors.
To boost cost efficiency, Vend-R helps businesses identify groups of companies to consolidate commercial terms.
Vend-R is an all-in-one solution aimed at accelerating the sales of suppliers and operations of the procurement teams.
To find out more about Vend-R, visit our product page.
To view Dun & Bradstreet’s comprehensive catalog of products, visit www.dnbsame.com
