Key features of SAP SRM
It has many critical features to simplify the procurement process of companies as mentioned below as follows:
- Catalog Management: Catalog data can be easily managed by suppliers, and this data can be easily integrated with business processes such as accounting, finance, and planning.
- Contract Management: Contracts can be managed using a secure central repository. This reduces compliance violations and allows end-users to adhere to business processes during self-service procurement.
- Reporting Functionality: Using SAP Supplier Relationship Management, you can generate reports on procurement activities, compliance and contract management, and procurement cost management.
- Procure to Pay Optimization: You can improve supplier communication and cost management by using the SAP SRP product to streamline the procure to pay lifecycle.
- Self Service Procurement: End-users can search products using multiple product catalogs, allowing them to find and purchase products that are compliant with the company’s purchase and procurement policies.
Introduction to SAP SRM (Supplier Relationship Management)
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.
Introduction to SAP SRM (Supplier Relationship Management)
Table of Content
- What is SAP SRM?
- Why SAP SRM?
- How does SAP SRM Work?
- Key features of SAP SRM:
- Benefits of SAP SRM:
- Conclusion: