Complete Profiles, Personalized Hierarchies, and Relevant Insights for a True Supplier 360
Supply chains are no longer linear flow systems but interconnected networks. Executive leadership inside organizations are looking to free up cash locked in supply chain operations by removing inefficiencies and leakages. However, poor data quality and inconsistent data standards for suppliers across IT, Finance, Procurement, Compliance, and other departments lead to sub-opitmal processes. With increasing data volume and variety and with changes in regulatory needs, and frequent M&A activities, it is more important than ever to have reliable Supplier 360 information that feeds to all operational and analytical systems for actionable insight and measurable outcomes.
Supplier 360: Consolidated and Accurate Supplier Data
The combination of Modern Data Management and data-driven applications dramatically changes the way organizations manage their suppliers. As business leaders take a holistic approach towards digital transformation in order to revamp their supplier ecosystem, access to reliable supplier data becomes critical. The advantages will by no means be limited to reduced cost and greater efficiency, but will also reflect in accelerated innovation, larger market share and increased long-term business value. With Reltio Cloud you can achieve:
COMPLETE SUPPLIER ACCOUNT UNDERSTANDING
Reltio Cloud allows you to deploy a data-driven Supplier 360 solution by bringing together data from multiple internal (ERP, SCM, Expense Management), third-party, public and social sources for complete supplier account profiles. The Supplier 360 solution also uncovers relationships, not just between people and organizations, but products, locations, contracts, activities and transactions. A complete picture across all sources is needed to accurately formulate recommended actions to achieve desired goals.
GET HIERARCHIES & RELATIONSHIPS YOUR WAY
Separate MDM-only tools can help improve supplier data quality but without a graph-based foundation, complex relationships across people, organizations and products are hard to uncover. With endless ways to model hierarchies and relationships, you can create and manage custom hierarchies beyond just formal legal structures, and add business logic, such as global sourcing to create visual and actionable views of your suppliers.
CONTEXTUAL AND PERSONALIZED
Context is an important factor in creating a usable Supplier 360 view. Reltio’s provides all of the relevant supplier information to the user, based on the user’s role and the task at hand. Using built-in, continuous integrated Data as a Service feeds to popular third-party data sources, such as Dun & Bradstreet, you can get a complete 360 view aligned to your objectives, and generate multiple context-specific views for your business users.
DEMONSTRATE ONGOING COMPLIANCE
With a Supplier 360 data-driven application, you can drive compliance across the supplier life cycle for handling taxation, credit risk, pricing, discounting, financial information and contract adherence. It helps meet regulatory requirements (such as Office of Foreign Assets screening and diversity tracking) and improve your supplier engagement and satisfaction levels.
Reltio also provides unique collaborative curation of information by your business users who deal with suppliers. With fine grained workflow and governance, you can be assured of getting the most accurate information in real-time. Reltio can also flexibly deliver information to your downstream applications, or provide access through embedded widgets within your application.
AT THE SPEED OF YOUR BUSINESS
IT can now deliver value to business faster. Real-time configurable data model adapts to business needs, across any use case, for any industry, without tedious customizations. Your applications come with your data instantaneously blended with third-party sources, so you are up and running quickly. Reltio Cloud is multi-tenant, horizontally-scalable and always available. Deployed in the cloud, you will be up and running faster than you dreamed possible.
10 Steps to GDPR Compliance
Effective May 25, 2018, General Data Protection Regulation (GDPR) will represent the most rigorous data protection regulation ever. Complying is not optional, and the penalties are very high. As companies scurry for total compliance, it makes sense to pause, assess, and use this opportunity not only for compliance but for managing customer data efficiently and gainfully.
MACHINE LEARNING PUTS DATA FRONT AND CENTER FOR BUSINESS
Machine learning is surrounded by fascination and awe. It can drive better personalized experiences with customers, increase workforce effectiveness, and de-risk your organization from security threats and regulations. But, machine learning needs quality data, relevant data, and better context surrounding transactions, interactions, operations and decisions.
Businesses Feeling the Heat of the ‘Amazon Effect’
Over the past 10 years, Amazon’s market value has grown more than 2,000 percent. The entire retail industry is feeling the heat, and companies are investing in digital transformation initiatives to help them compete. Walmart, for example, is rapidly investing in digital capabilities and online brands (it acquired Jet.com, for example).
WHY MASTER DATA MANAGEMENT AND MACHINE LEARNING GO HAND IN HAND
Reltio’s inclusion in the The Forrester Wave™: Machine Learning Data Catalogs Q2 2018, by Michele Goetz with Gene Leganza, Elizabeth Hoberman, and Kara Hartig, Forrester Research, June 2018, sparked (pun intended) several questions. Such as why was Reltio included, how did we receive such strong marks, and why were we the only Master Data Management (MDM) vendor in the Wave?