CONCO, a subsidiary of JSE-listed Consolidated Infrastructure Group (CIG), has streamlined its business processes by implementing AccTech Vendor Relationship Management (VRM). Sage partner and business solutions provider, AccTech Systems, deployed the solution.
CONCO provides high-voltage electrical substations, and the accompanying overhead high-voltage cabling that form part of the national power distribution network. It is also moving into the development and provision of alternative power sources.
AccTech VRM helps organisations streamline the entire vendor selection, maintenance and rotation process. User-friendly software allows procurement departments to capture business-critical vendor information, ensuring uninterrupted service delivery and compliance with BBBEE targets.
CONCO creditors manager Christine Bester points to typical problems they were encountering prior to implementing AccTech VRM. "Managing our vendors, capturing and validating their details and supporting documents, was time-consuming. We had no central location for data and documentation, managing and uploading or even maintaining the BBBEE certificates and status was nearly impossible."
The collection and management of vendor data is a time-consuming and costly business activity. However, the BEE rebates are significant and it justifies the time and effort allocated to managing vendors. AccTech VRM simplifies the vendor master data collection and capturing procedure; companies can now compile complex vendor reports that assist with BEE rebate calculations.
Bester says vendor selection and vendor rotation is fraught with inefficiencies, and in some cases, even corruption. "Proactive management of any organisation's BBBEE score requires the strict management of vendor expenditure."
AccTech CRM Business Unit Manager David Cosgrave says AccTech VRM provides a customisable electronic questionnaire that can be e-mailed to all vendors. "The completed questionnaires can be imported into the VRM system, providing a complete vendor overview at the click of a button. Alerts can also be set for documents such as Vendor Tax Clearance Certificates warning customers of imminent expiry dates."
AccTech VRM customisable reports allow users to compile company or department-specific reports in a matter of minutes, detailing virtually any business aspect. All reports are exportable in HTML; XLS or CSV format for a quick and easy data analysis.
"Vendor data becomes extremely valuable once customers start to apply AccTech VRM's advanced reporting capabilities. The powerful features and integration with our current financial system makes AccTech VRM the perfect choice for fast, accurate managerial reporting and analysis," concludes Bester.
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