Your supply chain depends on a steady diet of accurate data. Without effective oversight, inefficiencies can begin to creep into the process and negatively affect your business.
Tapping into the right data adds a lot of value to operations. Data accuracy is particularly important when it comes to procurement, where having a clearer picture of buyers and suppliers can drastically reduce operational risk.
With so much information available though, the challenge becomes more about managing data and ensuring its consistency and accuracy. Businesses often find they have gaps in their data that limit their competitiveness and ability to drive value and growth.
That’s where we come in. We remove the challenges of obtaining and managing supply chain data.
“The ability to perform sophisticated and innovative reporting and analytics is becoming critical for all organizations. Processing timely data and the proper reporting and analytic capabilities enhances the ability to make more informed, evidence-based decisions.”
We can help achieve that. We not only help to ensure data accuracy, but also create a place where that information can be shared between the people and organisations that need it.
Many suppliers are tired of seeing their time and resources drained by filling out multiple tender questionnaires for each new business opportunity. At Achilles, suppliers only need to complete a single pre-qualification questionnaire covering the core information required to complete tenders in their sector.
We then make this information automatically available to all relevant buyers within their community. By keeping the data up-to-date, suppliers can be sure that only the right buyers will be getting in touch.
Bringing buyers and suppliers together
By making the right data easily accessible for potential future partners, our communities also help to bring companies together. Both buyers and suppliers benefit from getting the right data out there.
Buyers are freed from spending significant time and energy trawling for the right data on suppliers by having everything they need readily accessible online. For suppliers, no longer having to go and hunt for buyers could lead to huge savings in time and effort.
The benefits of this accurate pre-qualification data have been well understood for years, back in 2014 Toby Munyard, partner at procurement consultancy Efficio, at a Chartered Institute of Purchasing and Supply member event commented:
“If you’re going to change someone’s mind, giving them something around factual information doesn’t mean they’re going to but it increases your chances of being able to do it.”
For procurement professionals, accurate and relevant data is increasingly essential for convincing the C-suite, stakeholders, would-be investors, or even potential customers to back a potential course of action. Accurate information helps manage supply-chain risk and enables businesses to identify pain points and potential problems.
In an age where data is king, companies cannot afford to underestimate the importance of up-to-date information. With Achilles, you don’t have to.