MASON, Ohio, June 7, 2017 /PRNewswire/ -- Historically, purchasing management tools and vendor data validation are housed within separate software platforms. ConnXus and POOL4TOOL today announced their partnership which will integrate SmartScrub data validation within POOL4TOOL's procurement platform.
A 2016 Procurement Executive Insight report by The Hackett Group demonstrates that supplier diversity programs bring great potential for increased market share and other benefits. And the quality of work is not compromised as this same study found that "99% of all diverse suppliers meet or exceed buyers' expectations."
SmartScrub provides procurement managers with a base understanding of their diverse supplier count by validating supplier classifications and aggregating diversity business certifications. Known for simplifying supplier management and supplier diversity programs, ConnXus holds the industry-leading data enrichment turnaround time of three to seven business days.
POOL4TOOL is an end-to-end procurement platform with distinguished capabilities that include procurement project management, inventory, logistics and quality management. Their strategic partnership with ConnXus will fill their diverse and international data validation gap.
"Efficient data management is at the top of procurement professionals' minds," states Daryl Hammett, ConnXus chief operations officer and co-owner. "Not only does SmartScrub streamline data efficiency, but it allows for managers and decision-makers to instill goals for supplier innovation and competitive advantages. We are excited to be working with POOL4TOOL and to be integrating SmartScrub into their cognitive procurement solutions."
"Procurement leaders may be responsible for managing thousands of suppliers on several fronts, including financial stability, adherence to regulations, and supplier diversity," states POOL4TOOL chief commercial officer, Roger Blumberg. "Failing to meet any of these standards can pose a massive risk to a company, and POOL4TOOL is thrilled to be partnering with ConnXus and integrating SmartScrub data validation to provide procurement managers with a comprehensive view of their diverse suppliers."
Both companies exhibited at the Institute for Supply Management (ISM) 2017 Conference in Orlando last month, and each were recognized on Spend Matters 50/50 Lists for 2017. "ConnXus is making innovative strides in the procurement technology space which can be seen in our new Risk Scorecard, a supplier financial risk assessment," explains Shweta Vaidya, ConnXus research and development manager. "It makes great business sense to partner with POOL4TOOL, a prominent leader in the industry."
This partnership will enhance POOL4TOOL's national and international clients' supplier management and supplier diversity programs in an all-in-one solution.
ConnXus supplier management solutions simplify the complexities of global supply chains and allow buyers to achieve their goals of responsible and sustainable sourcing. ConnXus is a NMSDC and CPUC-certified minority-owned business enterprise based in Mason, Ohio with local, regional and international capabilities. For additional information about ConnXus and their growing suite of supplier management solutions, visit the company's website at www.connxus.com, and to register your company on the ConnXus platform, visit https://mysuppliernetwork.com/user/signup.
POOL4TOOL is the intelligent procurement platform. The global leader in Direct Procurement software helps customers get the most out of eSourcing, Supplier Management and more. The all-in-one software can be built step-by-step. Connecting seamlessly to ERP, it uses workflows as unique as its users. With expertise from 15 years of partnership with manufacturing industries, the company is developing cognitive procurement. Over 300 customers worldwide use the platform to connect to a network of more than 300,000 suppliers. Learn more at www.pool4tool.com