WALLDORF, Germany; SALT LAKE CITY and SEATTLE, Oct. 28,
2020 /PRNewswire/ -- SAP SE (NYSE: SAP) and Qualtrics
today announced Qualtrics® XM for Suppliers, a new solution that
empowers organizations to identify key areas of improvement across
the source-to-pay process to help secure critical supply, increase
cost savings, mitigate risk and improve business agility.
Qualtrics XM for Suppliers combines data from an organization's
SAP® Ariba®, SAP Fieldglass® and SAP S/4HANA® solutions with
real-time supplier insights and AI-driven intelligence from
Qualtrics, an SAP company.
A majority, 66%, of chief procurement and chief supply chain
officers said their procurement function is adept at mitigating
risks with suppliers, according to a study conducted by Oxford
Economics and SAP. Yet only 51% said they can quickly find
alternative supply sources, and 46% said that gaining visibility
into supplier performance is challenging.* Qualtrics XM for
Suppliers helps organizations enhance existing source-to-pay
processes by listening, understanding and most important, acting on
supplier feedback at every touch point.
"When organizations prioritize listening, understanding and
acting on stakeholder feedback, the business impact and ROI will
naturally follow," said Brian
Stucki, Qualtrics executive vice president and CustomerXM
general manager. "Qualtrics XM for Suppliers puts supplier feedback
at the heart of buyer-supplier interactions and becomes an integral
part of decision-making and relationship building. Procurement
teams get a holistic view of the entire process through the lens of
their suppliers to quickly close feedback loops, attain
prescriptive recommendations on areas of improvement and advance
spend innovation."
As a leader in customer experience and creator of the Experience
Management (XM) category, Qualtrics provides its expertise to the
new solution with key features of the Qualtrics XM Platform, such
as the Qualtrics iQ engine, to help deliver:
- Predictive analytics and intelligence. Instantly
access supplier feedback and gain insight into predictive
indicators to support informed spend decisions across the
business.
- Automated and seamless workflows. Close experience
gaps across the source-to-pay process with action plans that
require no additional analysis and are automatically provided to
procurement teams.
- Real-time insights to action. With visibility into
supplier health and interactions across supplier touch points, from
onboarding to crisis recovery, procurement teams know exactly where
to implement change and which steps to take.
"This year has taught us that agility and resilience can only be
achieved if you can anticipate disruption before it happens,
enhance critical supplier synergies and know when to activate
alternate sources of supply," said Jason
Wolf, senior vice president and SAP Intelligent Spend and
Business Network general manager. "That's even easier to achieve
now with Qualtrics XM for Suppliers for SAP Ariba, SAP Fieldglass
and SAP S/4HANA solutions."
Qualtrics XM for Suppliers empowers procurement, finance and
supply chain teams to help:
- Secure critical supply and deliver business
resiliency by identifying and mitigating areas of risk to
minimize business disruption and proactively responding to the
feedback of the most critical suppliers.
- Accelerate savings by getting AI-driven insights and
recommendations throughout the source-to-pay process to help
identify experience gaps in the supply chain and influence more
favorable contract terms that impact ROI.
- Innovate with speed by leveraging feedback captured
throughout the source-to-pay process to promote supplier
collaboration and use supplier expertise to identify process
improvement areas.
Learn more about Qualtrics XM for Suppliers here.
Visit the SAP News Center. Follow SAP on Twitter at
@SAPNews.
* Source: SAP procurement transformation research in
collaboration with Oxford Economics.
About SAP
SAP's strategy is to help every business run
as an intelligent enterprise. As a market leader in enterprise
application software, we help companies of all sizes and in all
industries run at their best: 77% of the world's transaction
revenue touches an SAP system. Our machine learning, Internet of
Things (IoT), and advanced analytics technologies help turn
customers' businesses into intelligent enterprises. SAP helps give
people and organizations deep business insight and fosters
collaboration that helps them stay ahead of their competition. We
simplify technology for companies so they can consume our software
the way they want – without disruption. Our end-to-end suite of
applications and services enables business and public customers
across 25 industries globally to operate profitably, adapt
continuously, and make a difference. With a global network of
customers, partners, employees, and thought leaders, SAP helps the
world run better and improve people's lives. For more information,
visit www.sap.com.
About Qualtrics
Qualtrics, a leader in customer
experience and creator of the Experience Management (XM) category,
is changing the way organizations manage and improve the four core
experiences of business — customer, employee, product, and brand.
Over 12,000 organizations around the world are using Qualtrics to
listen, understand, and take action on experience data (X-data) —
the beliefs, emotions, and intentions that tell you why things are
happening, and what to do about it. The Qualtrics XM Platform is a
system of action that helps businesses attract customers who stay
longer and buy more, engage employees who build a positive culture,
develop breakthrough products people love, and build a brand people
are passionate about. To learn more, please visit
qualtrics.com.
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