Newton SRM

What is Newton Supplier Relationship Management?

Newton Supplier Relationship Management (Newton SRMS) is an intelligent supplier relationship management software to assist organizations in managing their suppliers more efficiently and conveniently. However, in the current business environment, organizations have numerous suppliers divided in various locations.

Managing all this manually is confusing, time-consuming, and risky. Newton SRMS addresses this issue by providing a central location in which all vendor affairs are handled. It makes business easily organized, and improves communication with the suppliers.

This supplier relationship management system has the ability to accommodate the vendor requirements of any company, whether it is mid-size or large-size. Newton SRMS is built by Nippon Data Systems to enhance the supply chain through the maintenance of vendor relations comfortably and safely.

How Does Newton SRM Software Work?

It stores supplier information in a single platform in order to provide a clear picture of the activities of all the vendors.
It automates the process of registering a vendor, checking documents, and the approval processes so that a lot of time and errors can be saved.
It monitors supplier performance through real-time dashboards and assists in detecting delays or problems.
It integrates with purchase systems to issue purchase orders, invoices, and make payments all in a single space.
It notifies about contract renewal, compliance, and pending actions to ensure deadlines are not missed.

How to Use Newton SRM Software?

Newton’s supplier relationship management software is easy and effective to work on. On the one hand, vendors have the opportunity to register and send documents online. After that, they are checked and accepted by your team in the safe workflow.

The software keeps all the details in a centralized supplier relationship management system, including contracts, licenses, and a history of communications. With ease, you are able to track supplier performance, monitor risk, and renewals. Reporting and real-time dashboards to make better decisions are also made available in the SRM software. It integrates with your business ERP or finance systems to simplify purchases.

It is a supplier relationship software that can comply with your needs, whether you are a small or large business, and develop better relations with vendors. Newton supplier relationship management transforms your procurement process into faster, smarter, and completely organized one.

What Are the Key Features of Newton SRM?

Supplier Onboarding and Registration: Services can register and upload documentation over the Internet, which reduces the time and cost of onboarding and satisfies all the company regulations.
Centralized Supplier Database: All information on suppliers, their contracts, and history of communication is centralized so that it can be easily accessed, searched, and managed.
Performance Tracking and Analytics: Use dashboards and KPIs in the supplier relationship software to monitor the supplier delivery speed, quality, and cost of each supplier.
Automated Workflows: Essential activities such as contract renewals or payment approvals are automated, and notifications are created to ensure they are not missed.
Procurement Integration: This SRM software integrates seamlessly with your current systems, allowing you to process and handle purchase orders and payments on a single platform.
Risk and Compliance Management: Ensure that suppliers observe both legal and internal regulations and secure all relevant records under the supplier relationship management system.
Collaboration and Communication Tools: The built-in messaging allows you to communicate with suppliers, exchange documents, and keep track of tasks and project developments.
Reporting and Insights: It is able to create insightful reports to identify the performance of suppliers and make wise business decisions based on real-time and historical data.
Scalable and Secure: This supplier relationship management tool scales with you and protects your information with high security and access privilege controls.

Who Can Use Newton SRM?

Manufacturing Companies: They handle lots of raw material suppliers and require effective procurement and tracking of supplier performances.
Retail and E-commerce Businesses: It assists in multi-supplier management of products, timely delivery, and contract renewals.
Construction and Infrastructure Firms: This is useful when managing subcontractors, suppliers of materials, compliance materials, and vendor coordination within a project.
Healthcare and Pharma Companies: Ensures a quality assured supplier compliance of medical equipment, raw materials, and regulated procurement processes.
Public Sector and Large Enterprises: Suitable in large companies to run tenders, register vendors, gain approval, and ensure multilevel compliance.

What is the Importance of Newton Supplier Relationship Management (SRM)?

Stronger Vendor Relationships: Develop long-term, prosperous relationships with vendors based upon trust, which facilitates uneventful operations and corporate development.
Better Team Coordination: Links internal functions with suppliers, enhancing decision-making as well as communication of procurement activities.
Centralized Supplier Visibility: Provides a clear understanding of all its suppliers within one supplier relationship management system in order to minimize risks.
Goal-Aligned Procurement: Allows you to keep supplier actions in sync with their business objectives and strategic purchase strategies.
Regulatory Compliance Support: Keeps the current records and procedures to comply with regulations, environmental, and industry standards.
Strategic Sourcing Enablement: Promotes planning and supplier assessment ahead of time to achieve competitive advantage and innovation.

Why Choose Newton Supplier Relationship Management (SRM)?

Expertise-Driven Design: The design is based on 30+ years of enterprise IT practice to get vendor management that is usable and dependable.
Customizable Workflows: It comes with workflows that can be customized easily to match the specific purchasing procedure, business requirements, and industry-related rules.
ERP and Finance Integration: Fits well with accounting, finance systems, and ERP that provides information on operations end-to-end.
Complete Vendor Lifecycle Coverage: This supplier relationship management software facilitates onboarding, performance and renewal within the same platform.
Dedicated Support and Training: Provides hands-on assistance on setting up to upgrading support in the successful implementation of SRM software.
Scalable and Secure: Designed in such a way that it grows as your business expands. It protects data and controls users in an effective manner.

Benefits of Newton Supplier Relationship Management (SRM)

Time and Effort Saving: Saves manual work, and automates and thus frees teams to concentrate on strategic work.
Improved Team Productivity: Enhances efficiency due to fast accessibility to real-time information in the supplier relationship software.
Faster Decision-Making: Provides performance insights in real-time and assists teams to make smart decisions on time.
Enhanced Collaboration: Enables the sharing of documents and updates as well as using shared dashboards and tools by the suppliers and internal teams.
Cost Reduction: Reducing the costs of procurement by increasing the power to negotiate and tracking the performance of the vendors.
Agile Supply Chain: This smart SRM software is fast in facing the changing requirements of new vendors or market conditions.

Pros and Cons of Newton Supplier Relationship Management (SRM)

Pros	Cons
Easy to use and understand	Need training for first-time users
Central place to manage all suppliers	Requires an internet connection to access
Saves time with automation	Setup can take time based on company size
Improves supplier communication	Too advanced for very small businesses
Tracks performance in real-time	Needs regular updates to stay current
Helps reduce errors and delays	Some features can be unused in basic operations
Works well with other systems like ERP	Integration may need technical support

Newton Supplier Relationship Management (SRM) Pricing

Newton Supplier Relationship Management (SRM) pricing is available on request. Its pricing is flexible and depends on your business size and needs. The software is customizable, so you only pay for what you actually use. To get the best offer, you can request a free demo or contact us for a personalized quote.