Top 15 Best Supplier Performance Management Software: You can’t manage what you don’t measure! - 2024

Large organizations spend up to 80% of their cost base with thousands of suppliers globally. However research shows that up to 75% of the value identified when developing a procurement strategy is lost, because delivery of the benefits identified is not managed. In a world where companies cannot rely on price alone to achieve value, the effective management of suppliers constitutes a major lever to success on a local as well as a global level.

A company that deploys effective Supplier Performance Management (SPM) ensures that a supplier’s performance meets the expectations defined in the contract and against market norms. It includes the management of actual performance, identification of performance gaps and agreement of actions to achieve desired performance levels. SPM not only ensures that those benefits identified in the contracting stage are delivered, but that value delivery continues for the life of the contract. As companies increasingly focus on their core competencies and outsource a greater percentage of work, their success becomes ever more dependent on the performance of strategic suppliers. Ultimately, the objective of SPM is to improve the performance of all parties involved in the contract and Service Level Agreement.

Performance Management Choices

Organizations face a number of choices in dealing with performance management information. Companies who have an unorganized unstructured approach understand the value of gathering this information but typically it will involve review meetings, telephone calls, web-ex presentations. Excel spreadsheets coarse through these organizations. Information is often held or collected locally or regionally. Analysts are left with the unenviable task of supplier data collection, analysis and reporting. Information is often out of date, inconsistent or weighted to try and compensate for variations. Reports are estimates of over or under performance. The true value of information is continually left on the table and contracts are negotiated on “gut feel” rather than hard facts.

Companies who have made a significant investment in an Enterprise Resource Planning system or a financial system such as SAP or Oracle tick a lot of boxes across the organization, but many don’t go into the level of detail required for true analysis of supplier performance. Their “inside out” perspective of the world makes it difficult to incorporate data from external organizations as anything other than reference information. Evaluating situations needs to happen in seconds, not hours or days. When a single Manufacturing Resource Planning (MRP) system run can tale a full working day, there is little opportunity to investigate and evaluate alternatives, let alone quickly reach a decision. These ERP systems often turn out to be monsters with difficult and costly implementations. ERP suites provide multiple, separate modules, almost always with different data models. Therefore, they require different user interfaces and integration among the modules. Customizing these systems is difficult. Even minor tweaks often require committee meetings and long lead times. Supplier Performance Management is often included in areas like contract management as a generic offering. When information flow is slow, companies struggle to get alignment across the supply chain. Agility and adaptability are nearly impossible to achieve. Companies that have made ERP investments must have the confidence of knowing that their system can co-exist with specific SPM solutions such that the core data held within ERP systems can be poured into an analysis tool and the results fed back into the ERP.

The Benefits of SPM

SPM provides organizations with a quantifiable bottom-line impact. It also provides companies with constant performance information and enables them to establish productive and sustainable relationships with strategic suppliers.
SPM enables your company to provide a process to manage suppliers and ensure that the benefits and requirements identified at sourcing and acquisition stages are delivered throughout the life of the contract, while enabling you to focus resources on value added activities instead of reacting to supplier performance induced problems.

TRACEGAINS

Tracegains the leader in food safety and quality assurance software for comprehensive vendor, regulatory, and quality management for food and beverage companies.

Digitizes and centralizes document management so users can quickly search, filter, and organize documentation
Customers can request documentation from all suppliers with one click. Suppliers submit required documentation to all customers one time eliminating repetitive requests
With TraceGains and ESHA/Genesis, users can turn on DataLink to sync ingredient data and eliminate manual entry
Use TraceGains advanced risk scoring algorithms or insert custom scoring for suppliers and items
Documents and reminders go to necessary personnel so activities continue and visibility is maintained
Configure automatic notifications for any supplier data and performance event
Quickly and easily organize and retrieve supplier and item-level documentation. Always be audit-ready for GFSI, FSMA, HACCP, or any other audit program
Automatically request documents from new suppliers (e.g., annual audits, FDA facility registration number, C-TPAT)
Connect and instantly collect documentation made available by suppliers in TraceGains Network

HICX

HICX Solutions is the leading supplier information management platform.

Central Repository
Governance
Data Collection
Internal Stakeholders
Suppliers
Third Party Sources
Transactional Data

INTELEX

Intelex cloud-based software manages environment, health & safety, quality and suppliers for regulatory compliance, and streamline ISO initiatives.

Searchable Supplier Inventory
Non-Conformance Reporting
Corrective/Preventive Action Tracking
Supplier Performance Rating
Automated Email Task Alerts
Root Cause Analysis Reporting

MASTERCONTROL

Supplier Management Software Systems by MasterControl Automate Supplier Management Processes and Supplier Compliance in FDA and Other Manufacturing Environments.

Centralized, Connected Supplier Management System
Automated Tracking of Supplier Management
Simplified Adding and Tracking of Parts and Suppliers
Web-based Supplier Management Platform

ZYCUS

Zycus’ Supplier Management Software helps automate all aspects of supplier performance and information management.

Setting performance benchmarks and evaluating suppliers against them
Using easy drag-and-drop capability to create highly customized surveys for various categories
Collaborating with suppliers by creating Development Programs which can be accessed by suppliers from the supplier portal
Pulling out intelligence reports, dashboards and other analytics for comprehensive view and quick analysis of Supplier performance facilitating decision-making and risk-avoidance
Raising a SCAR (Supplier Corrective Action Request) against suppliers to address an issue, find corrective action as well as prevent similar issues in future
and More.

IVALUA

Ivalua is a unified platform for all your sourcing and procurement needs across the source-to-pay process, enabling enterprises to digitize all processes, manage all spend categories and improve overall transparency and data quality.

360-degree view of supplier information and activity
Supplier and operational risk assessment and action
Single source of truth for supplier data

COUPA

Coupa is the cloud platform for business spend, delivering measurable value through real-time spend visibility, control, compliance, and agility.

Give Suppliers Choice, Not Fees
Self-Service Supplier Information Management that Works
Continuously Monitor Supplier Risk
Assess critical risk domains to manage third-party risk
Complete Supplier Visibility
Find the Most-Loved Suppliers

DONESAFE

Donesafe will help you comply with regulations, protect people and assets, streamline business processes and foster a culture of environmental, health and safety & quality (EHSQ) excellence.

Mobile App
Offline Capable
Live Support
Custom Reports
Multi-platform
Dashboards
Custom Branding
Automation
Configurability
Actions
27001 Security
Data Migration
Single Sign On
Data Exporter
Analytics
API Access
KPI Monitoring
Smart Forms
User Roles
Scheduler
Signatures
Language Translator
Search Bar

STATESS

The Statess supplier management and SRM software helps you improve your supplier performance, productivity and relationships.

Intuitive and easy to use
Flexible and future-proofed
Secure and scalable
Built on extensive experience and global SRM research
Fast implementation, adoption and results

WAXDIGITAL

Wax cloud procurement technology has helped many of the world’s leading organisations transform their purchasing processes, delivering cost savings, efficiency, compliance and improved supplier performance.

Streamline and centralise
Drive supplier value and innovation
Automate supplier information management

DETERMINE

Determine is a pioneering cloud platform offering source to pay and contract management solutions to optimize risk, efficiency and bottom-line impact.

Onboarding Workflow Management
Manual & Automatic Onboard Scoring
Supplier Self-Service
Offboarding Workflow Management
US 1099 forms
Supplier Certification Management (Internal & External)
Supplier Profile Management
Supplier Portfolio Management
Supplier Surveys
Supplier Scorecarding (Manual & Configured)
Action Plan Management
Supplier Rating & Review Process

METRICSTREAM

MetricStream provides Governance, Risk and Compliance (GRC) software solutions that allow companies across various industries to streamline and automate their enterprise-wide GRC programs.

Enhanced awareness of supplier risks by validating supplier information with leading industry content providers
Improved supplier consolidation and rationalization, as well as visibility into the businesses, spend, assets, and risk exposure associated with each supplier
Higher confidence in sourcing and negotiation decisions with the help of historical data on supplier performance
Stronger business resilience through streamlined supplier risk assessments aligned with business continuity management