When discussing the size of Supplier Networks, it’s important to distinguish at what point in the Source-to-Settle process you’re referring to. In the upstream sourcing process a buying organization wants to search the “universe” of relevant suppliers for inclusion in a sourcing event. In this instance, the size of the network does matter. But while some organizations simply tout the size of their network – which often includes inactive suppliers – we believe that the quality of the supplier data is equally important. SciQuest’s Total Supplier Manager solution allows an unlimited number of supplier invitations and registrations. Suppliers can register with pertinent information including NAICS codes, diversity classification, biographical information as well as custom information that may be specific to a particular buying organization. With respect to the downstream procurement process, where a buying organization is actually transacting with their preferred suppliers, size isn’t necessarily the most important factor.
SciQuest Transacts with more than 150,000 suppliers in our network
We have more than 150,000 active suppliers in our network. Once the buying organization has selected and contracted with its preferred vendors, the most important part of the Supplier Network becomes the transactions and interactions between the buyer and its suppliers on the network. At SciQuest, we have a dedicated team that helps integrate your suppliers into your private marketplace. They train and support your suppliers, they configure and test the integrations, and they manage the enablement project from inception to go-live. Oh…and after that, we have a support team that’s available 24x7x365 to you, and to your suppliers!
SciQuest’s Supplier Network is Free to your Suppliers
Most supplier networks require the suppliers to pay an annual fee, a percentage of the transaction fee, or in some cases both. At SciQuest, the customer is the focus of our attention, and we strongly believe that your relationship with your suppliers is yours to manage. We add value by enabling that relationship, not getting in the way. When your supplier has to pay a fee to participate in the network, they will ultimately pass those costs back to you, either directly or indirectly. That’s why our Supplier Network has always been free for suppliers to participate. You invite them. We integrate them. And you manage all aspects of your relationship with them. We treat each of your suppliers as a partner, bringing value to your organization.
And the Suppliers like it too!
Suppliers really like the fact that they don’t have to pay transaction fees to be a part of our Supplier Network. But surprisingly, that’s not always the best part for them. We often hear from suppliers how easy it is to be enabled on our network, and many have expanded their business significantly as a result.
I talk more about this in the video, and discuss a recent conversation I had with one of our suppliers.
If you’re part of the SciQuest Supplier Network, tell us about your experience in the comments below.
We look forward to continuing to expand our Supplier Network and enabling meaningful collaborations (and savings) between our customers and their suppliers.