What are the implications of poor supplier data on your organization? Your organization can leverage true supplier value by deploying an integrated Supplier Management solution through the three quick steps.

1. Reasons for deploying an integrated
Supplier Management Solution
Implications of Poor Data
Pain Points of Supplier Data
What does Supplier Information Management entail?
The Way forward: Deploying Supplier Management solution
How does Supplier Management Add value to your organization?
95% 67% >40%
Quality data
important to achieve
procurement
objectives
CPO's realize
poor data as
barrier to
implementation
Costs of an
organiztion can
be attributed to
supplier costs
Identified costs with
poor supplier data
Delayed/ cancelled
new IT systems due
to poor data
Confident in their data
quality
Confident in data
provided by external
sources
0 20 40 60 80 100
Current/ As-is State
High Supplier Costs
Lack of Compliance
Poor Supplier Data
Integrated Supplier Management
Low Cost per Supplier
Higher Compliance
Minimize reputational cost
Reduce Internal
Overhead
Risk alerting and
risk strategy
Achieve Global
visibility
Supplier Strategy
and Collaboration
Enriched and
validated data
Cost of Bad Data
Source: Gartner Research
Legacy Systems Multiple data
sources
Manual processes No data
validation
Outdated
technology
Multiple Users
The impact of poor supplier data across the P2P process takes many forms and each is costly
Manual Supplier on-boarding
can cost up to $1MM per year
Duplicate supplier records
lead to millions of dollars in
duplicate payments
The ACFE estimates that fraud
costs organizations about 7% of
annual revenues
On-Boarding
Automate
collection,
maintainance of
supplier data
Proactively monitor
and roll-up a variety
of risks: financial,
political etc
Compliance to
Industry specific
and generic
requirements
Complete picture
from all internal
sources of supplier
information
Single point for
duplicate free and
validated
information
Risk
Compliance
Performance
Master Data
Step 1 Identify potential areas of benefit, savings, and ROI
Accounts Payable- Time savings, Capture early payment discounts
Compliance- Time, Fines/Penalties/Costs
Diversity- Missed revenue for lack of compliance (small business), Time
General- Elimination of paper/scanned documents, Other error reconciliation, Time
Legal- Time spent searching for contracts, Standardized contracts, Decreased cost of liability
Procurement IT- Time, Product Displacement
Risk and Performance- Reputational/brand risk- Costs attributed to delays upon supply chain
disruption reaction, Cost increase due to Tier-n insolvency, Loss of revenue due to supply chain
disruption, Missed opportunities to scorecard supplier
Sourcing- Capture of Rebates, Minimize off-contract spend, Limit increase/cost in suppliers
onboarded, Elimination of 3rd Party Data Enrichment
Supplier Master- Loss of revenue due to cycle time of on-boarding
3 Steps for Organizations!
Step 2
Attribute a value to create a data driven value
proposition
Contact HICXStep 3
HICX enables the most complex organizations to leverage their Supplier data through its bespoke Supplier
Management solutions built around proprietary state-of-the-art workflows, supplier data models, search
algorithms, web interfaces, integration capabilities.
www.hicxsolutions.com