Benefits of SAP SRM

Some of the best benefits of SAP SRM are:

• Streamlined procurement process – SAP SRM module runs the complete procurement lifecycle very perfectly. From receiving requests to payment processing through payment gateway. SAP SRM streamlines each activity of procurement activity, optimizes the entire lifecycle and automation abilities of SAP SRM is an big advantage which helps to streamline procurement processes
• Improved supplier relationship – As you know here, Collaboration is an important critical aspects required for business and company growth. It heightens the collaboration between suppliers and companies to high levels. The main here is to end up with improved relationship between companies and so on.
• Increased efficiency – The automation abilities and its potential of SAP SRM simplifies procuring goods as well as offering services. It is done by eliminating repetitive tasks and reducing human interventions to least. By leveraging SAP SRM the interaction between suppliers and companies is enhanced significantly, furthermore efficiency is increased because of data sharing, improved quality and so on
• Enhanced visibility – It offers wide visibility across all the purchasing operations crystal clear. We can able to access the relevant data from the repository at any time. Enhanced visibility makes every activity in the procurement process crystal clear.
• Improved analytics and forecasting – SAP SRM with NetWeaver BI helps us to analyze expenses associated with procurement deeply. For example, you can make web-based reporting, create analytics and much more.

Suppliers play a key role in businesses today. If any organization has a hassle-free relationship with its goods or services suppliers, it will phenomenally yield positive results and on the other hand, managing a consistent and vibrant relationship with suppliers is quite challenging. So having the correct tools to streamline procurement operations and interact with your suppliers. SAP SRM stands for Supplier Relationship Management and is an efficient tool that helps companies optimize procurement operations and helps to improve relationships with suppliers and other business vendors. In this article, we will be going through SAP SRM, features, benefits, and a lot more.