Leveraging Supplier Intelligence to Reduce Costs

Humans and Machines are synergising to redefine Procurement.

Leveraging Supplier Intelligence to Reduce Costs

Humans and Machines are synergising to redefine Procurement.

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SUPPLIER INTELLIGENCE

Enterprise Procurement and Compliance teams are always under pressure to deal with an increasing variety of changes in the market. It is even more important now for companies to proactively monitor supplier relationships since third-party risk exposure is impacted by rapidly scaling complexity as well as diverse, complicated regulations.

What We Do

SYNE Digital enables you to monitor an extensive assortment of risk incidents, including those reported in global and regional markets, government and private databases, and corporate information.

SYNE identifies and extracts supplier intelligence from supplier spends, best-in-class supplier risk data and supplier contract intelligence from master agreements to work orders as well as leakages in billing and pricing, advanced pricing models for RFPs. SYNE helps to take informed decisions providing a transparency that is novel throughout all third-party relationship lifecycles.

SYNE Digital helps you achieve an optimal balance of risk insights with both a holistic risk overview of all monitored suppliers and the ability to gain a greater depth of risk information on individual suppliers.

How We Do

Those familiar with sourcing/purchasing know what it takes to get results in terms of supplier research, qualification, technical team participation, approval, and to accomplish these using a budget-driven approach that balances deadlines, quality and regulatory compliance.

SYNE pair technology and a team of experts to help you analyze data from anywhere in the supply chain and find your biggest opportunities to improve sustainability in your business.

SYNE determines how the existing and new suppliers will affect your supply chain by using   advanced data modelling techniques and identifies any potential conflict of interest. Combined with supplier certification monitoring, this helps reach the right supplier decisions faster with greater accuracy.

Great procurement strategies are built on strong, mutually beneficial supplier relationships. When buyers and suppliers work towards agreed performance goals together – by sharing data, insights and ideas – risks decrease, innovation opportunities are uncovered, and costs can be optimised with ease.

The strongest relationships are built on transparency of information. However, in many organisations, information on procurement is either fragmented, biased or missing. While SRM systems work well to track performance it is to be noted that often they lack flexibility to adapt to the unique needs of each strategic relationship.

Procurement teams are challenged by increasingly volatile supply markets and continued pressure to cut costs. But with huge swathes of unreliable public information and diverse datasets from procurement and finance systems, it is harder than ever to build and optimise effective category strategies, and identify valuable opportunities.

Achieve category management excellence with timely, contextualised intelligence covering supply market dynamics, price forecasts, spend and demand insights.

  • Robust, unbiased, contextualised intelligence and analytics across all stages of the category management lifecycle.
  • Self-service access to the latest market insights on 400+ categories, and sustainability and innovation trends across key industry sectors.
  • Custom intelligence and impact assessments with category specialists answering project-based questions and providing actionable recommendations.
  • Proactive news and alerts on relevant developments in key categories and supply markets defined.

Modern procurement teams are faced with managing fast-evolving demand-supply situations, disruptive trends and a multitude of vendors with diverse information sources often resulting in indicators that are conflicting in nature.

  • Combination of Advanced Analytics, machine learning and procurement skills to harness the power of internal and external data for strategic and tactical decision-making.
  • A business-first approach starting with identifying procurement goals and applying analytics that support them.
  • Modular customised solutions for specific needs and analytics maturity, ideal for full-scale analytics solutions or to explore specific use cases for the first time.
  • Bespoke dashboards, visualisations, self-serve automated tools and reports for easy access to category and cross-category analytics and insights.

The trouble with commodity markets is their volatility and the deep fluctuations in pricing, supply and demand have direct and significant impact on procurement budgets, ability to deliver savings and overall profitability of organisations.

Manage exposure to commodity risk better with easy-to-consume market insights and predictive price analytics, prepared by market specialists.

  • Contextualised commodity forecasts that make clear potential business, operational and budgetary impacts of market shifts.
  • Ongoing insight delivery ensuring that commodity managers always operate with relevant, timely forecasts and category insights.
  • Deep procurement expertise and broad basket coverage spanning a huge range of commodities – Agro, Livestock, Fuels, Petrochemicals etc.
  • Forecast accuracy of more than 95% across most commodity markets enabling procurement teams to act with confidence on the insights provided.

Great procurement strategies are built on strong, mutually beneficial supplier relationships. When buyers and suppliers work towards agreed performance goals together – by sharing data, insights and ideas – risks decrease, innovation opportunities are uncovered, and costs can be optimised with ease.

Improve supplier engagement, uncover innovation and collaboration opportunities and proactively manage performance and risk, with a 360° view of your strategic relationships

  • Move the dial from supplier management to supplier engagement with actionable insights on your strategic relationships
  • 360° visibility of opportunities and challenges based on intelligence from your internal systems and stakeholders, external data sources, and supplier systems and surveys
  • A single source of accurate information for all relevant data and insights shared between you and suppliers which is reliable and trustworthy
  • Shared custom reports and dashboards to ensure that you and the strategic suppliers receive measurable results from your improved relationship and collaboration
  • Purpose-built assets and scalable frameworks to accelerate delivery and unlock insights for a wide range of supplier engagement activities

56 Million

There are 56 million companies worldwide and approximately 41,000 are listed with a combined market value of ~ USD 80 Trillion, which is equivalent to the global GDP.

START YOUR JOURNEY WITH SYNE 

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