SourceDogg’s tips for landing new clients

Increase your visibility

It is important to make your company stand out. When buyers are searching through the SourceDogg database for suppliers they can have a look at your supplier profile to perhaps get a better understanding of what your company offers. To make the most of this its vital that you populate your profile with key information. Your SourceDogg profile allows you to display a company logo and an overview where you can give prospective new customers a summary of what you can offer them. Be brief but comprehensive. Let them know what makes you stand out from the crowd. You can also include some contact information so if they want more information they have some contact points.

Click here for help on how to update your profile.

Ensure your certification is up to date

Where once having certifications was seen as having a competitive advantage, now its being seen more as an absolute necessity. It gives buyers a sense of confidence and security that your organisation has the knowledge and talent required and is prepared to handle their needs now and in the future. SourceDogg allows you to display those hard-earned certifications and accreditations to make your organisation more appealing to work with. Keeping those certifications up to date on SourceDogg is equally important and because of that we will send you periodic reminders when they are due for renewal. Properly maintained and accurate list of key certifications on SourceDogg will show potential buyers that your company is highly professional and provide products or services of the highest quality.

Click here for help on how to update your certifications.

Upload your Datasheets

A Datasheet is a document that provides the details and specifications of your product range and, used correctly, can do a lot of your sales work for you. Buyers are using SourceDogg to find suppliers that provide the products or service they are looking for. They can search through the SourceDogg database of datasheets and then if they like what they see they can then invite that supplier to a Request for Quotation (RFQ) and ask for more details or pricing. You can now upload your datasheets, spec sheets, pricelists, risk assessments, PPE assessments or any other sales paraphernalia to SourceDogg. These documents can then be shared with selected buyers or made publicly available to all buyers.

Click here for more information on our Datasheets.

Make yourself a preferred supplier

Find out if the buyers you know on SourceDogg are running a Supplier Onboarding event and ask if you can take part in it. Many buyers are using SourceDogg to gather information from their suppliers and to add them to preferred supplier lists, or ‘supplier pools’. Getting into these pools will increase your chances of being invited to future tenders they may publish. Many SourceDogg buyers are running the new supplier applications publicly so you might consider applying for these. You could find these in the Public Requests area of your account.

Keep your ear to the ground

Although most tenders on SourceDogg are private and by invitation only, there are also some published publicly. By checking the Public Requests area on SourceDogg periodically you can ensure nothing relevant will pass you by. We also recommend to register on Contracts Finder and Tender Electronics Daily websites as many of SourceDogg buyers are government organisations such as councils and hospitals and you can set up for any notifications to be sent to you when a new tender is published.

Let your Datasheets do your sales work for you

Let your Datasheets do your sales work for you

Are you making the most of your SourceDogg account?

Put yourself in the shoes of your customers for a moment, perhaps a junior member of a purchasing team.

You’ve been tasked by a senior colleague with finding a product. They have shared a specification document, but it is not a finalised spec and you do not understand half of the technical jargon anyway. First of all, you want a place to go to and, quickly and easily, navigate among your preferred suppliers to search their product ranges. Then, when you enter some key words from the specification and find the product you are looking for that looks like it matches your specification, you want to be able to deliver the results to your busy boss in an easily digestible format containing all the key information, perhaps just by sending a link or supplier’s datasheet directly with the technical details.

Now step back into your own shoes again. An important client of yours uses SourceDogg for purchasing and you’ve been through their onboarding form to be a preferred supplier. Remember your customer’s junior purchaser and be one step ahead of him and have your Datasheets already uploaded to SourceDogg for when they go looking. Now think beyond this one client; by making your Datasheets publicly available on SourceDogg you can let your Datasheets do your sales work for you by letting prospective new clients find you!

  • Tips on how to make a good Datasheet
  • Describe what makes your product unique or better than other producers
  • Make it easy to find your datasheets, tag your documents with some key words or use the UNSPSC categorisation – when a buyer is looking for a specific category, they will find your documents in no time!
  • It should be detailed enough to answer any initial questions a customer may have but not so overloaded with information that it puts your client off.
  • If your product is very technical and has a lot of features include a link in the Datasheet, perhaps to a video or more detailed white paper, so the client can find out more.
  • Use simple language with minimal jargon. You know your product inside out but your clients may not, and may not need to as its possible they are not the end user.
  • Include some FAQs about your product. If they have come up in the past with other customers, it will save time to include them here.
  • You can also decide to share your datasheets with your existing clients, by inviting them to create a free buyer’s account.

For more information on our Datasheets you can watch a video here.

Upload your Datasheets here today and don’t forget to tell your client!

Maverick Spending – how could you tackle the issue?

Maverick Spending – how could you tackle the issue and minimise it?

It is Monday morning again. You receive a call from the accounting department that some goods were delivered and there are no matching invoices. You suspect where the issue is and investigate in detail. Equipment for a new person in Marketing and furniture for the office of the new Operations director were bought without authorisation, from suppliers you’ve never heard of, with payment terms never discussed with you. It is a story that repeats almost every week, but now you are committed to deal with it once for all.

The level of maverick spending differs greatly between organisations, but a recent study by CIPS has found that it could be as high as 80%. The bottom line of this is that at best no saving is achieved for the company however, it could actually result in a for the company.

Maverick spending can take many forms; purchasing outside of the preferred channel or supplier, or those that do not follow the setup contract rules and miss on hard negotiated savings. Ineffective purchasing also comes with a range of other issues, e.g problems with payments, supplier management, fraud or difficulties enforcing the terms of business. Large amounts of these purchases happen because employees or their local managers think their transaction is insignificant or it does not matter to the overall picture.

SourceDogg helps you to take measures to get maverick spending under control. Here are some examples:

P2P policy needs to be clear and need to be communicated

A strict policy must be enforced by the management, with clear and understandable rules on how/when Business Users are allowed to make the purchases. The easiest way to buy something is to simply call a favourite supplier and place the order, so this will be the behaviour that will need to change, and it will require a commitment from the management of the company. Business users will need a simple and effective solution to replace such behaviour and Guided Buying could be that solution.

We offer a customisable front page of your organisations procurement platform that can become the wiki of procurement activity for every user. The content will include the links to 3rd party suppliers’ catalogues such as Amazon for Business, internal links to policy documents and customisable questionnaires that will direct the user to relevant requisition forms or RFx forms based on what they need.

Tailor the P2P processes

It could be argued part of the maverick spending happens because the Business Users do not know or understand the policies in place, resulting in looking for simple solutions for their pending problems. The users do not know where or how to buy the products they urgently need and therefore are going for the simplest possible solution. One size does not fit all in the P2P, you should, therefore, have designed processes for buying various types of products or services. For example, buying the raw material needed for production does not follow the same process as buying indirect services.

In SourceDogg you could address this by creating a range of very specific and customisable requisitions forms to match every type of spending that occurs in your organisation. Each of these forms could have a different set of approvers, and therefore relevant people will be deciding about purchases for their assigned category, meaning that no money is spent on something that is not needed.

Better Supplier Master Data management

In many cases, maverick spending outside the approved supplier list occurs because the user does not have enough information about the products available from existing Suppliers. Therefore, they reach outside of the approved circle and make a purchase from a supplier who is not verified and no or very little business terms have been agreed.

We recommend using the functionality of SourceDogg and saving relevant information about individual suppliers in their supplier profiles. The information collected could extend from basic contact information to categories of products or services provided. It is also possible to build a catalogue of products or services datasheets, currently available from your existing supply chain. Using this feature, the user can find the supplier selling the product they are looking for in a matter of seconds. From there, they can create a requisition, get it approved by their manager and generate a PO (threshold and permissions permitting) or ask the procurement department to tender for the product.

 

Assess your Supply Chain’s readiness for Brexit

Use our free Brexit Risk Assessment tool:

Collect Brexit data from unlimited suppliers for free via SourceDogg.
Collect key data on your suppliers exposure to Brexit.
Get the data now so you can make quick decisions when the rules of Brexit are clear.
Easily produce a report and present to your Board.

Understand your Brexit readiness – How it works:

Contact our team to set-up your account
Use our ready to go Brexit Risk Assessment Tool
Invite your suppliers to take part
Add your Subject Matter Experts to review responses and identify risk
Generate a report
Free to use

SRM – Get the basics right – start with clear communication

SRM – Get the basics right – start with clear communication

Supplier Relationship Management is a complex undertaking. To do it right you need to stratify your suppliers, establish a governance structure and organise your teams, design a programme to foster supplier development, and implement performance metrics and service level agreements.

This kind of project involves buy-in and cooperation from numerous stakeholders, time, money and re-deployment or hiring of new staff.

So, what we’re saying is, don’t be too hard on yourself if haven’t managed to get this far. In our experience most organisations haven’t and for most of your suppliers, you’ll never need to.

However, one thing you should be asking yourself is – can I communicate effectively with my suppliers?

Without a doubt, this is the root of 90% of the problems that will come up in the course of any relationship you have with a supplier (or anybody for that matter).

Also, good communication is something you should be practicing with every supplier, not just a select few that would form the basis of a usual SRM process.

We would argue that clarity is the key to effective communication. This is especially true in when dealing with your Suppliers and when they are dealing you, their customer.

Take this common scenario:

Supplier receives a one line email from someone in your company saying “Hey, widget x missing”. This lands in some generic shared mailbox. Two weeks go by and nothing happens. The project has shut down because “widget x” is still missing. Supplier A’s Key Account Manager is hauled in to explain themselves. The first thing they’ll probably say is that they didn’t even know about the issue and they’ll get straight on it. But it’s too late now. Everyone is one the defensive, cagey, and looking to either point fingers or save face. Another relationship damaged over nothing. They think you are unreasonable and you think they’re unorganised. This all could have been avoided through clear communication.

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So what amounts to clear communication when dealing with a Supplier?

Here’s what we think you should be telling them:Take this common scenario: Supplier receives a one line email from someone in your company saying “Hey, widget x missing”.

This lands in some generic shared mailbox. Two weeks go by and nothing happens. The project has shut down because “widget x” is still missing. Supplier A’s Key Account Manager is hauled in to explain themselves.

The first thing they’ll probably say is that they didn’t even know about the issue and they’ll get straight on it. But it’s too late now. Everyone is one the defensive, cagey, and looking to either point fingers or save face. Another relationship damaged over nothing. They think you are unreasonable and you think they’re unorganised. This all could have been avoided through clear communication.

  • What do they need to do – write it down clearly
  • When it need to be done by – give them a date and time
  • How important is it and what is the priority – try to be realistic

But that’s just step one. The next place lots of people fall down is the follow-up when the Supplier gives you an answer. If they don’t hear otherwise, they will more than likely assume everything is OK and move on with their lives. Don’t allow things to fester or go unresolved.

With that in mind:

  • Be clear that you are happy or unhappy with the Supplier’s resolution
  • If you aren’t happy make the supplier respond and repeat until a resolution is reached.

These are all obvious suggestions when you give them more than a few minutes thought, but this basic lack of communication causes endless issues in businesses day to day interaction with Suppliers. The main cause of this is a lack of structure and consistency. People a sending poorly worded emails back and forth to different points of contact. Nobody has clear visibility of all the outstanding issues. People go missing and can’t pick up where another left off. In a nutshell, lack of clarity again.

SourceDogg’s SRM module helps you get a structure in place to eliminate this issue. This is how we do it:

  • All communication on Key Actions or Issues is stored in one place and is visible to the Supplier and Buyer. A team can be created on both sides with access to this information.
  • Each Key Action must have a description (with supporting documents if required), a deadline date, and a priority. The Supplier knows what has to be done, when it has to be done by, and how big a deal it is.
  • Suppliers have to describe what they did to close out the issue or action and submit his for review.
  • Buyers have to either say they are happy (mark as complete) or not (reject) and send back to the supplier. This process repeats until the action is complete or the issue is resolved.

No confusion and no ambiguity. Everyone can see what’s done, what needs to be done, when it needs to be done by, and who is responsible. Get this bit right and you can begin to build productive and long-lasting supplier relationships.

If you like to take a look at SourceDogg’s SRM tool please contact our team on 0203 481 0904 or speak to your Account Manager (maybe even send them an Action on SRM ?).

 

Strategies to Reduce Cost of Procurement and Purchasing

For every business in every sector, keeping costs down is vital.

Of course, there’s a big difference between making smart financial decisions and cutting corners: one should be encouraged, the other should not.

Why? Because while cutting corners may well result in your company saving money, the goods or services you invest in could be completely unsuitable. A low-cost, low-quality option may also involve compromising on certain ethical standpoints (such as sourcing from uncertified suppliers).

Paying for high-quality solutions provided by reputable, legitimate providers tends to incur a higher price – while bringing greater results and, consequently, peace of mind.

However, you can have the best of both worlds: with the proper procurement process in place, companies of all sizes, on all budgets, can source exactly what they need from the right suppliers in a cost-effective way.

The bottom line: you’ll save money without affecting the quality of the products – or the quality your brand is known for.

Here are three expert strategies to reduce costs in procurement and purchasing …

Be Bold – Negotiate!

Hosting negotiations with a supplier is rarely a process buyer look forward to. However, if you want your business to save money, you must be willing to discuss pricing with your suppliers to ensure maximum cost-efficiency and transparency.

Depending on the supplier you currently employ, negotiations may be smooth, pleasant, and mutually-beneficial: if you can settle on a suitable cost, your satisfaction will guarantee the supplier retains your custom.

It’s vital to consider how essential a specific supplier is to your product or services production cycle. Does one supplier provide you with an indispensable tool or material that you couldn’t go without, or would you be able to find it elsewhere for the same price (if not less)?

Obviously, if the supplier is (to coin a phrase) the only game in town, you may need to tread carefully when approaching the negotiation table. However, don’t automatically assume that you need them more than they need you: your business could well be their main source of income. In which case, it would behoove both parties to find a comfortable middle ground.

Do your research ahead of time: look into the average value of any and all materials provided by the supplier, and know your figures before any negotiations begin.

Question Value VS Brand Names

As a consumer, it’s easy to become blinded by a brand – products purchased by one big-name company may well pale in close comparison to cheaper alternatives, but you feel safer (and more fashionable) buying into the name.

The same applies to businesses sourcing goods from the most popular suppliers. They may have decades of experience, have millions upon millions of sales under their belt … but are they still the very best option? More importantly, are their products worthy of the higher price tags?

The best procurement process means weighing up all of your options based on numerous factors, with two of the most critical being cost and quality. For example, employees within your company may well refer to goods by the brand’s name if said manufacturer is synonymous with them because this is easier than providing the direct specifications. For example, to put it simply, saying ‘we need a BRAND X’ rather than ‘we need an engine featuring this, this, and that’.

This could be a costly mistake, though, as more cost-effective alternatives may well be available. Reaping this benefit might involve changing from one particular specification: if your company is used to a particular product being made with steel, an alternative material (plastic, for example) could offer the same results but at a lower cost.

Other aspects, such as the location and delivery processes, may affect the overall cost of using a particular supplier. It’s important to do the research and weigh up the potential benefits of trading up for a more competitive brand.

Buying Only What You Need

It’s tempting to buy goods in bulk, to prepare for the inevitable rush: customers will buy by the dozen, your stock will sell out, and you’ll make a tidy profit.

It’s a nice idea. Sadly, though, it may not actually turn out this way.

Keeping products in stock will take up valuable space in your warehouse, preventing you investing in other (perhaps more high-demand) goods, and ultimately serving as a waste of money.

It’s best to buy products in an appropriate amount, investing in a more realistic quantity rather than purchasing the absolute maximum you can afford. If your research and data show that there’s unprecedented demand out there, by all means, buy with this in mind – but you have to be sure.

Consider the potential loss you may incur by buying excessive stock and keeping it in storage ahead of time. If you can only buy in high quantities, endeavor to strike a deal with your supplier – it may be worth more to them to offer a reduction to retain your custom.

Apply these three strategies to reduce costs and streamline your procurement process. Not only will your finances go further, you’ll ensure you’re working with the very best brands for your demand and budget.

5 Trends Affecting Procurement Professionals

5 Trends Affecting Procurement Professionals

Changes in working practices and processes affect specialists in all sectors, and procurement is no different. Emerging trends transform procurement considerably, altering the way in which you work.

As a procurement professional, you know you have to stay on top of the latest trends to avoid falling behind. With that in mind, what are the latest trends, and how do they impact today’s procurement professionals?

AI Paves the Way Forward

AI is becoming bigger and bigger in even the smallest areas of life, and procurement professionals will see this expand in their sector. Businesses will embrace big data and AI to maximize their processes and keep supply chains running as smoothly as possible.

Businesses, customers, and suppliers expect results with a minimum of delay. Machine-learning algorithms will continually enable businesses to cut out mundane administrative tasks and streamline their processes, freeing their teams up to focus on other areas.

Greater Emphasis on Globalisation

As the internet keeps making the world smaller, globalisation is consistently easier (and more financially-viable).

Companies will be encouraged to consider sourcing products from around the world rather than exclusively local suppliers; while shipment carries a cost, the base manufacture of various products varies.

Businesses may save money by investing in suppliers with lower production costs and smaller overheads, even when taking international shipping into account. Product-manufacturers based in less-developed regions will benefit from globalised procurement too, as their lower rates can provide greater value than bigger, more expensive companies.

Cloud-based software makes managing global transportation and communications easier than ever. Brands can upload delivery data on the fly, monitor shipments, collaborate on documents, and much more wherever they’re based.

A More Transparent Service

For businesses, social media has transformed customer service and accountability forever. While companies may one day have avoided individual demands for explanations or complaints, today this is impossible on social channels: other users can see when criticisms are made when questions are asked, and more.

For any business to let these go unanswered or unresolved is a big mistake, as potentially thousands (or millions) of other prospects will see it.

With this in mind, procurement processes will continue to alter in an age where transparency is in greater demand: professionals can check potential suppliers’ social feeds for an idea of their ethics, their dedication to customers, and target demographic.

The Millennial Mindset

Millennials will continue to be a major presence in the workforce, and they will bring a new approach to procurement.

Millennials are well-informed on sustainability, the economy, and the ethics of business. It’s easier for information on businesses’ supply choices and investments to leak than ever, and if customers and affiliates discover an unethical organisation or brand has been involved in the supply chain, it can have a significant negative impact.

Millennials’ awareness of the importance of sustainability, fair trade, and social issues will bring a valuable fresh mindset to the procurement sector. As a result, organisations will face less risk of becoming involved with questionable businesses or attracting negative attention through poor choices.

Planning Around Demand

In the past, procurement may have been more focused on planning around a supplier’s production capacity and ability to distribute in a timely manner. Now, though, there’s a greater emphasis on the consumer at the end of the supply chain.

As a result, planning and purchasing look more closely at demand and purchasing with this in mind (rather than investing in far more products than needed). Costs can, therefore, be reduced, and supply can be met in a streamlined way without products bought in bulk sitting in a warehouse somewhere.