The proactive management of an organisation’s Broad Based Black Economic Empowerment (BBBEE) score requires the strict management of vendor expenditure. Vendor selection and vendor rotation is fraught with inefficiencies and in some cases even corruption. AccTech Vendor Relationship Management (VRM) assists organisations to streamline the entire vendor selection, maintenance and rotation process. User-friendly screens allow your procurement department to capture business critical vendor information ensuring uninterrupted service delivery and compliance with BBBEE targets.
Manage your Vendor data to improve reporting and efficiency
Contracting a new supplier only to find that their Tax Clearance certificate has expired, or is about to expire leads to frustration and inefficiencies across the business. AccTech VRM will identify vendors whose Tax Clearance or BBBEE Certificates are about to expire and will notify them automatically of the pending expiry. AccTech VRM also electronically stores all vendor’s Tax Clearance and BBBEE Certificates.
Drive your BBBEE policy goals
AccTech VRM ranks your suppliers according to the BBBEE Level and Status. This information helps organisations drive their preferential procurement policy. The supplier relationship management tool has advanced reporting capabilities which gives you the intelligence you need to determine how close you are to reaching your goals on percentage BBBEE spend.
Automate your Vendor Rotation
When combining the power of AccTech VRM and AccTech eWorkflow’s advanced procurement management capabilities, helps manage the automatic rotation of vendors. During the renewal of vendor contracts, new vendors are automatically given a chance to tender in a well governed process that cannot be bypassed, enforcing vendor rotation policies without the possibility of user manipulation.
Increase your Business Intelligence
AccTech VRM provides users and management with advanced business intelligence through advanced dashboards and predefined reports. Dashboards supply instant access to information such as open purchase orders and draw attention to excessive turnaround times from non-performing vendors. Management reporting provides insight into the trends with respect to BBBEE percentage spend; actual vs. budgets and expected cash flow requirements.
Track all changes
Tracking of changes to vendor data is critical to ensure accuracy and auditability. AccTech VRM monitors all changes to any vendor detail including, address; phone; email; bank account or commodity information and stores all changes in a tamper-proof audit log. Regardless of whether or not data is manipulated through VRM or through more advanced back-end processes, AccTech VRM ensures your data is fully auditable and verifiable.