Automate and refine your procedures
Many companies use ERP as the main data source for supplier information. But for procurement teams, detailed answers to practical questions such as insurance, qualifications, risk, and compliance can be hard to come by through ERP systems.
Manual processes to get supplier data into your ERP can be time-consuming and error-strewn. But Canopy automates and refines the procedure, it automatically creates a new supplier record for the ERP system without any manual intervention.
Canopy makes building automated workflows easy
How can you ensure you have the best data on your suppliers in your ERP? Trying to build automation into the ERP directly takes time, costs a lot of money, and is very inflexible when you need to make changes quickly.
This is where Canopy comes into play.
With Canopy, building automation workflows is easy, as we use API or batch processing to feed information from Canopy to the ERP.
Save time and resources
It takes time to onboard a supplier using an ERP (for instance, typically 30 minutes with SAP).
In contrast, with Canopy, it takes a minute to send an invitation to a supplier to provide their information which then feeds the ERP via an API.
Reduce the scope for errors
With manual processes, there's scope for multiple mistakes when onboarding a supplier.
This means you could be dealing with a non-compliant supplier - whereas Canopy can send a trigger to the ERP which puts a non-compliant supplier 'on hold' for POs or payment.
Coping with multiple ERPs
What happens when companies using different ERP systems merge? It's complex and time-consuming to merge legacy ERPs, so companies typically run ERP systems in silos.
Canopy can speak to multiple ERP systems concurrently, as the API can push and pull data to and from multiple ERPs simultaneously.
Be the customer of choice
How easy it is for a supplier to deal with your company? At times of crisis, it can be a supplier's market.
If it's more straightforward to deal with you, a supplier is more likely to choose you than your competitor.
Never underestimate the benefit of being a customer of choice for your suppliers.