With Trade Interchange’s supplier registration tool, all potential suppliers complete their details online, such as their company background, contact details, capability, areas of expertise and formal accreditations. The procurement team then has access to this information and can assess trusted suppliers.

As well reducing duplicative work and having a single location for storing supplier details, it becomes in the suppliers’ interests to keep the information up to date. In addition, by linking the supplier registration tool to corporate websites, it cuts out the middle man by allowing potential suppliers to register their interest online to supply a particular business.

Tim Hoiles, Operations Director, Trade Interchange commented, “Effective procurement is no longer just about price negotiation or cost cutting. Other factors now come into play too. Quite often there are the ‘green credentials’ of suppliers to consider or whether potential suppliers have their own distribution service. All in all, time and efficiency savings are paramount in procurement. It goes without saying that our self managed system brings considerable time savings by transferring the burden from buyers to suppliers, freeing up the buyers’ time for other critical tasks. I believe that is why our supplier registration tool is receiving such customer great customer feedback.”