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Supplier Risk & Performance Management

Automate onboarding of suppliers, risk mitigation, and compliance

Centralize all supplier data and minimize unnecessary manual work through controlled and automated category-specific supplier onboarding.  Reduce risk within the supply chain by ensuring supplier information is automatically updated and flagged in the event of non-compliance. 

Scanmarket is trusted by businesses across the globe

The Strategic Importance of Third-Party Risk Management

Make fully informed choices through pre-defined automated supplier due diligence processes and approval workflows to meet your risk criteria.

Through integration with corporate risk databases (including Dow Jones, Lexis Nexis, and Refinitiv) carry out automated screening of company and key individuals’ names to check against global sanctions lists and records pertaining to financial crime, corruption, politically exposed persons, workforce disputes, environmental issues and more.

Simplify Supplier Management

Invite your suppliers to register through the supplier portal to enter and maintain their own data, accreditations, and certifications, reducing your supplier management workload by up to 65%.

Your suppliers will benefit significantly, as they will only need to provide the information once for all RFI/RFPs, and your colleagues will have full access to supplier data across the business.

Gain Deep Visibility of Your Supplier Base

Easily access, report on and interrogate all supplier data and documents from one central repository, with configurable dashboards and numerous supplier segmentation options.

Protect Your Reputation and CSR Profile

Enforce and track supplier compliance against all key areas, from anti-slavery and child labor to full environmental, CSR, sustainability, and corporate governance.

Continuous 3rd Party Risk Monitoring

Automated tracking and identification of any change in risk profiles will give you time to evaluate the potential impact on your business and plan how to mitigate the risk.

Centralize Supplier Information 
and Performance Management

Keeping supplier data up to date is of equal interest to you and your suppliers, so why not simply make it a collaborative effort?

Just centralize all supplier data and ask your suppliers to keep their relevant information, accreditations, and certifications up to date, benefitting stakeholders in both camps.

Scanmarket’s Supplier Risk & Performance Management software is equipped to distribute questionnaires that can be linked to sourcing events.

Expedite the decision-making process by tracking and accessing supplier performance in one centralized location. Use scorecards and instant KPI tracking and reporting to elevate your entire buying function.

Integrating with Scanmarket solution

With seamless integration

Integrate with what you know and already use.

Scanmarket integrates seamlessly with leading technology solutions to create an effortless experience for the end user.

... and fantastic Supplier Risk & Performance Management functionalities

Centralized Supplier Data
Both the buyer and supplier have access to supplier data in one central repository with the ability to update supplier information as needed.

Increase Speed of Decision Making
Access the system anywhere on any web browser and view the latest information concerning your external relationships.

Enterprise-wide Transparency
Centralized secure administration of third-party profiles enables easy and transparent access across the enterprise.

Intelligent Questionnaires
Design, build and publish intelligent questionnaires for identifying risks when launching new business relationships.

Auditing & Reporting
Every user action (additions, deletions, edits, views, and downloads) performed is fully tracked in the system’s audit logs, coupled with any user information and a time stamp. This provides a full audit trail throughout the lifetime of any third-party relationship.

Advanced Security Profiling & Background Checking
We connect to all leading external risk and corporate information databases such as Dow Jones, Refinitiv, LexisNexis, Dun & Bradstreet, and more for accurate and comprehensive profiling of businesses and individuals.

Identity Management
Run your business securely and profitably by better understanding your customers, vendors, and partners.

 

Fraud Detection and Prevention
Incident management improves your ability to detect and prevent fraud, contain costs, and protect revenue with relevant information about people, businesses, and assets.

Investigation
Make informed decisions by identifying, authenticating, investigating, and monitoring individuals and companies for issues such as corruption, tax compliance, cybercrime, politically exposed persons, ultimate beneficial owners, know your customers (KYC), money laundering, common reporting standard, fraud, terrorism financing, sanctions, AKA/aliases, and child labor & slavery.

500+ Happy Customers

Scanmarket's software is built to make S2C management as simple as it should be.

But don't just take our word for it 

“We have been using the Scanmarket/Symfact TPRM solution since 2020 to standardize and streamline our due diligence and risk check processes. With a quickly evolving global risk landscape the solution has never been more important for us than it is now. The functionality is excellent and the service is second to none. We certainly class Scanmarket/Symfact as a partner, rather than just a provider, in this area.”

Holcim

"Scanmarket has provided Scandlines with a platform on which we can build Sourcing 2.0. By increasing transparency, cost efficiency, and stakeholder satisfaction, we are digitizing sourcing processes, and thereby maximizing output from each sourcing event."

Andreas Fries Jørgensen, Category Task Manager at Scandlines

"Scanmarket was vital in our response because it opened up new geographies and new supply chains in order to allow us to bring new products in to support not only our staff but also our customers".

Kieran Dowd, VP of Strategic Sourcing, Emirates Flight Catering

Book a Demo

Originating from the needs of the procurement professional, Scanmarket's S2C software is built to be used. See for yourself how advanced technology can be as simple as it should be.

Frequently Asked Questions

What is the most efficient way of securing compliance?

Automate maintenance of supplier certifications, documentation, and scoring by transferring the responsibility for updates and verifications to your suppliers.

Monitor compliance with full visibility of supplier activity including contracts, event history, contact information, certificates, files, communications, and more. With Scanmarket's Supply Risk & Performance Management software, all supplier data is readily available with reports, notifications, and flag alerts for non-compliance issues.

You no longer have to chase suppliers for data updates. Suppliers simply log in to update their information and certificates directly under their profile and receive automated expiry reminders.

Which tools do you integrate with?

Integrate with enterprise resource planning (ERP) tools and other master supplier data to include all relevant information about goods and services being sourced.

Customize integrations with seamless data flow for solutions such as ERP, DocuSign, P2P, eSourcing, Contract Management, Risk Management, and more.

How does automated supplier onboarding work?

Provide a link on your company website for interested suppliers to register on your database, or issue a link via email. Scanmarket's Supply Risk & Performance Management software verifies email addresses for security purposes and confirms the completion of required registration questionnaires.

Automated notifications let the relevant users know once a new supplier has registered. Review new suppliers and accept or reject them based on scoring thresholds, transferring them automatically to the supplier database.

The automated onboarding process saves time and requires fewer people in the initial screening, and offers a standardized approach toward all suppliers.

How can I improve my tender workload?

Reduce tender workload by up to 80% with supplier score tracking to gain visibility of all supplier information. Customize your supplier surveys with scorecards, KPIs, and more to compare suppliers from a 360° view.

Scanmarket's Supply Risk & Performance Management software provides transparency for all buyers using the same supplier and enables proactive supplier management.

Which type of support do you provide?

We provide 24/5 Quick Call support for your internal users and suppliers. 

Quick Call support is not like your typical support desk. With Scanmarket, you have direct access to our global team of expert source-to-contract consultants who can resolve your issues rapidly. We often hear from our customers that Scanmarket's Quick Call support is the best in the industry.

Quick Call support is available to customers, suppliers, and other stakeholders. 85% of Quick Calls are answered in less than a minute, and 95% are answered within five minutes.