CHICAGO, Dec. 20, 2016 /PRNewswire/ -- ClientLoyalty, a supplier performance management software company, has added tools to provide data-driven insights into spend management and facilitate workflow automation.
Supplier managers often start their relationship management by focusing on spend data. It is important to use spend as one of the inputs to the effort levels placed on supplier relationship management. As a result, ClientLoyalty has introduced spend analysis functionality. Specifically, the new functionality will allow users to import actual, budget and forecast spend data. Users can then tag data by type of spend and by cost allocation. The desired outcome is to allow ClientLoyalty users as way to easily identify the spend variances that prompt additional attention and relationship management.
"Spend is a major factor in supplier relationship management and this functionality will help vendor managers prioritize their limited resources with an eye on spend," commented Kent Barnett, CEO of ClientLoyalty.
Additionally, workflow automation to facilitate supplier management activities such as contract renewals, corrective action plans and date-sensitive document updates has been added to the platform. Users can leverage standard workflows or create custom workflows based on unique needs. A series of automated emails will notify personnel when tasks are upcoming and overdue with simple click-through templates to share updates on their assignments. This workflow automation ensures a higher level of attention and compliance in critical vendor management processes.
ClientLoyalty is a game-changing technology designed to go beyond traditional supplier scorecards by focusing on multiple facets of supplier performance combined with efficient supplier process management. Adding spend analysis and workflow automation ensures supplier managers focus on continuous improvement and elevating supplier relationships yielding more value out of vendors.
ClientLoyalty is a supplier performance management software company. ClientLoyalty's supplier scorecard system automates and centralizes the collection, scoring and reporting of operational metrics, 360 feedback, risk ratings and social sentiment to benchmark, share and continuously improve supplier performance in a user-friendly, flexible and affordable manner. www.clientloyalty.com
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