Veridion’s Post

💡 We are featured in satsearch's recurring series of Supplier snapshots. A quick read to get a bird's-eye view on our recent accomplishments and near-future scope. ✅ If you want to get a good overview of our products, have a look at our satsearch portfolio which you can find in the post. The post is linked in the first comment to this post.

An eSourcing 'hack' to improve your results by 2-3% for any variable (price, lead time, fees, etc.): (It's easy too!) Give suppliers live feedback on their bids during the event. If supplier can see 'live' that they aren't leading for a given variable, they will adjust their answer to be more competitive. This can take the form of a line item ranking, traffic light or other mechanism. The key is giving them enough information to know where they stand. This works well for eSourcing events with clear requirements. Not all eSourcing tools support this, but the good ones do! What other tactics are you using to get great results with your eSourcing events? Let me know in the comments 👇 _________________________ 𝗣.𝗦. I help companies choose and implement ProcureTech solutions for a living. Every Sunday, I send out a free newsletter which documents the best practices, trends and frameworks in ProcureTech. It's read by thousands of Procurement professionals (and counting...) 𝗦𝘂𝗯𝘀𝗰𝗿𝗶𝗯𝗲 𝗵𝗲𝗿𝗲: https://lnkd.in/eFs8dc-F

Scale's Verification Service isn't merely a checkbox to tick; it's a robust system meticulously designed to showcase supplier qualifications, certifications, and compliance status. By obtaining trust badges through Scale's Verification Service, suppliers wield a potent tool to bolster their credibility and inspire trust in prospective buyers. #Procurement #BuildingTrust #SupplierVerification https://lnkd.in/dzE6syrz

💸 Will it ever be profitable for a ProcureTech vendor to tackle the messy middle of sourcing? At the top end, solutions like Keelvar and CSO address complex, constraint-heavy optimization problems, which allows them to charge a premium. At the tail end, ProcureTech empowers business users to handle sourcing independently within defined constraints (Fairmarkit is a the example that comes to mind —kudos on the branding!). Wide usability at this end can also command a premium and generates valuable data. Certain categories, like chemicals and transportation, even have specialized ProcureTech markets designed just for them (think PinPools and Transporeon). So, what’s left? The messy middle. Where pricing templates are created in Excel, answered in Excel, and then consolidated, checked, and analyzed manually. I’m focused on reducing that burden, leveraging Excel’s flexibility without the manual slog. If you’re curious about how I’m tackling this, let’s connect—I’d love to share more. Or, if you’ve found a way to keep the messy middle at bay, I’d love to hear how.

Start your next supplier meeting with this question “How can we help you succeed?” Usually, we think about what we need from our suppliers. But asking this question changes everything. Here’s why: • Builds a better partnership: If you care about their success, they’ll care about yours too. • Finds new ideas: Vendors might share tips that help both of you do better. • Creates trust: When suppliers feel supported, they’ll work even harder for you. Try asking this question at your next meeting. You might be surprised by the good things that come from it. But wait, there’s more! We’re taking this approach to the next level with our upcoming Vendor Score IT launch this September. It’s a new tool designed to help you create win-win partnerships with your suppliers. Want to get ahead? Join our Next-Gen Program to be among the first to use Vendor Score IT and transform your supplier relationships (link in the comments and my profile) 🔄 If this resonated with you, please repost or tag someone who might benefit from this message!

💯 Focussing on what you can give over what you can gain is not just a strong personal value - It's strategical in building strong business relationships too! Thanks for sharing, Celia! #BusinessRelations #Partnerships #Success

I'm very excited for this new service coming to Market Dojo shortly: AI-powered Supplier Discovery 😍 Add dozens of prospective suppliers to your sourcing invitee list within one minute. Our whitepaper from some years ago proved that by inviting 10 more prospective suppliers to your sourcing activity, you can increase the rewards to your organisation by more than 50%. Across a large spend, that's a lot of extra gain. And yet very few organisations negotiate with more than a few suppliers. The main reason why? It's a lot more work: scanning the supply market, finding the right contact person, signing NDAs, distributing tender documentation, handling Q&A, collating responses etc. But AI-enabled Supplier Discovery + eSourcing totally changes that. Wow your business stakeholders with your rigour and professionalism & drive 50% better outcomes. Drop us a line to learn more.

𝗘𝗺𝗯𝗿𝗮𝗰𝗲 𝗖𝗵𝗮𝗻𝗴𝗲: 𝗪𝗵𝘆 𝗦𝘁𝗶𝗰𝗸𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗦𝗮𝗺𝗲 𝗩𝗲𝗻𝗱𝗼𝗿𝘀 𝗠𝗶𝗴𝗵𝘁 𝗕𝗲 𝗖𝗼𝘀𝘁𝗶𝗻𝗴 𝗬𝗼𝘂 𝗠𝗼𝗿𝗲 𝗧𝗵𝗮𝗻 𝗬𝗼𝘂 𝗧𝗵𝗶𝗻𝗸 "𝘞𝘦 𝘢𝘭𝘳𝘦𝘢𝘥𝘺 𝘩𝘢𝘷𝘦 𝘰𝘶𝘳 𝘷𝘦𝘯𝘥𝘰𝘳𝘴 𝘢𝘯𝘥 𝘤𝘢𝘯’𝘵 𝘵𝘢𝘬𝘦 𝘰𝘯 𝘢𝘯𝘺 𝘮𝘰𝘳𝘦 𝘢𝘵 𝘵𝘩𝘪𝘴 𝘵𝘪𝘮𝘦." Sound familiar? This common response might be holding your business back in more ways than you realize. Have you ever been told, "𝘞𝘦 𝘢𝘭𝘳𝘦𝘢𝘥𝘺 𝘩𝘢𝘷𝘦 𝘰𝘶𝘳 𝘷𝘦𝘯𝘥𝘰𝘳𝘴 𝘢𝘯𝘥 𝘤𝘢𝘯’𝘵 𝘵𝘢𝘬𝘦 𝘰𝘯 𝘢𝘯𝘺 𝘮𝘰𝘳𝘦 𝘢𝘵 𝘵𝘩𝘪𝘴 𝘵𝘪𝘮𝘦"? It's a familiar refrain that can be disheartening, but there's more to this statement than meets the eye. Sticking with the same vendors might seem like the safe bet, but it could be costing your business in innovation, flexibility, and even higher costs. In our latest blog post, we explore: 🔑 The hidden risks of vendor complacency 🔑 Why diverse suppliers can bring fresh ideas and innovation 🔑 How finance and procurement can balance vendor loyalty with fresh opportunities Don’t let the comfort of familiarity hold your business back. Discover how staying open to new vendor partnerships can drive growth and innovation. Let’s start a conversation: How do you balance vendor loyalty with the need for fresh innovation and diversity? Share your thoughts—I’d love to hear them! 👇 Read the full blog post here 👇

🚀 Unlock New Business Opportunities with Supplier Gateway 🚀 At Industries Nationwide Corporation, we’re proud to be registered on Supplier Gateway, a powerful platform connecting businesses with qualified suppliers worldwide. If you’re looking to expand your customer base, here’s how Supplier Gateway can help: 🔹 Increased Visibility: Supplier Gateway provides access to a vast network of buyers actively seeking suppliers. By optimizing your profile, our business can stand out to potential clients looking for exactly what you offer. 🔹 Streamlined Procurement: With Supplier Gateway, businesses can easily review and vet our products, helping streamline their procurement process. The platform simplifies communication, speeding up decision-making and closing deals faster. 🔹 Diverse Supplier Programs: For businesses that value diversity, Supplier Gateway connects Minority Business Suppliers (like us!) with companies committed to inclusive procurement practices. This positions our company to attract corporate clients looking to fulfill their supplier diversity goals. 🔹 Global Reach: Gain access to international business customers and partners looking for high-quality suppliers across industries. Whether you’re focused on local or global expansion, Supplier Gateway has the reach to grow your business. By leveraging Supplier Gateway, we’re able to connect with new customers and offer them the high-quality products they need. Don’t miss the opportunity to take your business to the next level—register today and start making valuable connections! #BusinessGrowth #SupplierGateway #SupplierDiversity #Procurement #GlobalReach #IndustriesNationwide #NewOpportunities #MinorityBusiness

Procurated was founded because governments lacked insight into the past performance of their suppliers. It was a new idea - replacing an antiquated system involving cherry-picked references - with ratings and reviews exclusively from vetted government users. Today, we celebrate a major milestone: Procurated has reached 75,000 ratings and reviews of government suppliers. Available for free to all government purchasers, these 75,000 reviews make up an unmatched resource for finding the highest performing suppliers in the country. Want to put Procurated’s supplier review collection tools to work for your government? Join 13 states across the country in using our new Canary product to see how all your suppliers are performing for the customers throughout your organization. Sign up at www.procurated.com. See you at 100,000!