Before focusing on a specific efficient supplier compliance management software, let’s first understand what supplier compliance management actually is.

What is supplier compliance management?

Companies rely on their suppliers to provide them with goods and/or services that allow them to run their businesses. Also, a single company could work with dozens or even hundreds of different suppliers. So, effectively managing your list of suppliers is crucial for the success of your business. Supplier compliance is all about making sure that your suppliers are compliant with the relevant legislation and being able to promptly resolve issues if they arise. Managing supplier compliance is vital to your company’s need for cost control and efficiency in the supply chain.

Efficient supplier compliance management can help your company avoid a myriad of problems, including incorrect labels, missing test reports or compliance certificates, product substitution without approval, and much more. All of these issues will cause other issues that will resonate within your entire organisation, and eventually, hurt your business. To avoid that, let’s see how you can manage your supplier compliance efficiently.

How to manage supplier compliance efficiently?

An easy and swift way of improving your supplier compliance management is by using top-of-the-notch digital solutions. A cloud-based software will enable you to get meaningful results from your supplier compliance data, streamline compliance-related processes, and drastically reduce compliance costs. But it is also crucial that you pick a digital tool that is easy to implement, with a user-friendly interface and adequate security measures in place.

One such tool is developed by the innovative RegTech company called Clever Compliance. The Swedish firm offers a sound supplier compliance management software, which will soon be integrated with the recently released SCIP database. The digital tool is tailored to suit the needs of any business or organisation.

What are the main features of the supplier compliance tool?

Clever Compliance lets you add more innovation into your existing supplier compliance management processes. The Nordic company puts everything your compliance teams need to know and do on one single platform. By using their supplier compliance software, you can:

  • Learn all about the restricted substances your suppliers have in their articles
  • Create numerous custom forms and documents for easy supplier data collection
  • Pull out reports over your compliance data
  • Get a thorough overview of the status of your supplier performance
  • Quickly refer to the SCIP numbers of any of your suppliers
  • Compile a dossier for SCIP compliance
  • Streamline processes and procedures dealing with supplier responses
  • Identify high-risk articles and assess data-gaps
  • Keep all of the supplier documentation in the cloud for easy accessing.

The cloud-based compliance tool helps you keep compliance work on track, manage your supplier documentation efficiently, collaborate with all of your suppliers easily, and reduce your exposure to supplier-related risks. And if that’s not enough, the tool can be fully integrated with the compliance management system provided by Clever Compliance, allowing you to streamline all of your product compliance work and keep track of your legal responsibilities.