The main hidden supplier risks include:
- Expiring contracts
- Management changes
- System changes and upgrades
- Cash flow issues that result from growth
These risks may persist in spite of significant supplier-side investment in sophisticated hosted solutions. Suppliers use these solutions to optimize processes, including the regular hub transactions that flow from buyer to supplier—but it can still be difficult for buyers and suppliers to maintain coordination and a high level of service.
A procurement solution provider can help them optimize purchase orders and day-to-day reporting while ensuring their processes are fast and functional 24/7.