Where are the savings?
Costs Savings and Increased Efficiency
The main cost saving is the elimination of manual work. Through improved communication, suppliers gain a better understanding of their customers’ business in order to better serve needs. When challenges or problems arise, systems and controls in Tradecloud enable both parties to identify and address them. Suppliers anticipate and adapt to needs more quickly, eliminating redundancy and streamlining processes.
Through greater operational efficiencies derived from Tradecloud, both the supplier and the buyer can increase revenue growth at better margins.
Real time access allows for faster intervention in situations that may pose risks. Such as an incorrect or late delivery.
Constantly changing suppliers is expensive and time-consuming as it requires internal resources to identify suppliers and conclude contracts. Even if a new supplier promises lower costs, the long-term relationships with strategic partners generate more value relative to potential short-term gains.