Engaging effectively with suppliers is essential but often a buying organisation can become overwhelmed by the sheer number of interactions with all their suppliers, including keeping supplier profiles and catalogues up to date, requesting quotes, issuing tender documents, handling PO and invoice transactions, monitoring contract dates and terms and answering questions about payment status.
Adding to the volume of interactions is the variety of ways you are expected to communicate with suppliers including post, email, phone calls, with some contact in a more conversational style but other occasions calling for formal questionnaires and public tenders.
All of which is time consuming and steals time away from a procurement officer’s ability to review pricing, seek proposals and negotiate agreements, the very things they are judged by and that the business sees as the prime source of value generation.
The options to deal with this all seem either unrealistic or unlikely; hire more people, work longer hours or become faster at re-keying information, all while somehow managing and rationalising the number of suppliers without knowing enough about them.
A Supplier Portal connects you and your suppliers in the most efficient way possible at every important touch-point as you do business together. It provides essential support to all Source-to-Contract and Purchase-to-Pay applications and can connect in similar ways with other existing systems.
The web-based portal allows for suppliers to create and maintain their records on your behalf, receive notifications including requests for quote or tender, participate in auctions, administer their documents and contracts, and trade via electronic Purchase Orders and Invoices.
Cumbersome manual communications and transactions are replaced by quick, low cost electronic methods that deliver accurate information from a single viewpoint. The Supplier Portal becomes the ideal ‘one-stop’ collaboration channel that serves your buyers and suppliers alike, sharing key information and transactions in the most efficient way.
After last year’s fantastic event at the Barbican Centre, we’re excited to invite you to another inspiring day full of valuable sessions, networking opportunities, and insights from the very best in the procurement industry. This year, we’re bringing TSM Customer Day to the heart of our community – the Novotel London Tower Bridge.
As businesses navigate an increasingly complex landscape, the need for agile, adaptable technology platforms has never been more critical. Organisations require solutions that not only meet their current needs but can also evolve alongside their business. This is where Ivalua, a leading provider of Source-to-Pay (S2P) solutions, comes into play. At TSM, we are proud […]
London, 1, July, 2024— TSM (Touchstone Spend Management) is thrilled to announce that we have been shortlisted for the prestigious 2024 CIPS Awards. This recognition highlights our transformative project with ISG, which aimed to revolutionise supplier management through a robust Source-to-Pay (S2P) solution. The project, in partnership with ISG, focused on automating onboarding processes, integrating […]
Step into the heart of London’s procurement and supply chain scene with our exclusive networking events, proudly sponsored by TSM. We’re shaking up the usual business gathering vibe to bring you something fresh – think less formal, more friendly chat over a morning brew. TSM is putting the spotlight on industry camaraderie by offering a […]
We are excited to announce a new collaboration between Forestreet and TSM, a consultancy specialising in the implementation of procurement systems. Research shows that 40% of sourcing professionals spend an average of three months completing a single supplier search, yet they can only review a few dozen suppliers from thousands. TSM recognises this industry-wide challenge, […]
London, 10 March 2024 – TSM (Touchstone Spend Management) proudly announces its double shortlisting for the esteemed World Procurement Awards 2024, hosted by Procurement Leaders. The awards recognise exemplary initiatives, leaders, and businesses shaping the future of procurement. Out of a pool of 145 distinguished organisations and individuals spanning 14 categories, TSM has been acknowledged […]
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