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Supplier Value Management Software Supports Suppliers As Business Partners

Our New Label For Buy-Side Apps Emphasizes Collaboration, Performance, Innovation, And Risk Management

May 7, 2020


Why Read This Report

Companies need software applications to manage their sourcing, contracting, purchasing, invoicing, and supplier management processes. To date, there has not been a standard label for these software apps that's analogous to the label of customer relationship management (CRM) for sales, marketing, and customer service apps. Forrester's new label for buy-side applications is supplier value management (SVM). This name recognizes that firms increasingly view suppliers as key partners that contribute as much to business success as employees — and particularly so in this time of pandemic and recession. "Supplier value management" acknowledges and reinforces the principle that suppliers are a critical source of business value and not just a category of business spending that needs to be reduced.

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Table of Contents

  • Procurement Needs New Software For Its New Imperatives
  • Tech Buyers Vote For SVM With Their Wallets
  • Recommendations

  • View Your Suppliers As Value Creators, Not Just Costs
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