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Aravo Customer Realizes Dramatic Savings in Process Cycle Times and Operational Costs
SAN FRANCISCO, CA, July 23, 2013 — Aravo Solutions, Inc., the leading provider of cloud-based Supplier Lifecycle Management (SLM) solutions and Supplier Risk Services (SRS), announced today that a Global Healthcare Products customer has completed an internal analysis of the business benefits realized as a result of its Aravo Supplier Information Management™ (SIM) deployment, and found dramatic improvements across the board.
This multi-billion dollar healthcare supply enterprise was feeling the pain from dependence on an outdated, internally-developed supplier management system. Rapid global expansion had engaged the company with thousands of suppliers. As a result, managing those relationships while also ensuring regulatory compliance, maintaining a diverse supply base, and improving environmental sustainability had become an impossible chore. With over one hundred supply requests each day, using the current system had become unwieldy, prone to errors, and a big waste of time. Supply managers across departments needed an easier way to maintain up-to-date records of existing vendors, ensure accurate payment information, and increase visibility to new suppliers.
In the search of a replacement for their antiquated, internally developed supplier management system, the company had three main goals: increased efficiency, easier manageability, and decreased risks. Following a rigorous market evaluation, the company chose the cloud-based offering from Aravo Solutions. With information on over two million active suppliers, Aravo manages supplier data and processes around supplier financial information, risk, compliance and performance. Upon implementing Aravo SIM™, supply managers are now provided with comprehensive, up-to-date information profiling each of their suppliers.
The greatest benefit for this healthcare enterprise is the savings in time and resource efficiency. Since switching to Aravo SIMTM, the number of supplier requests has doubled with no increase in the number of supply management resources required to manage them. That volume is expected to continue to increase as the company expands globally and continues its mission of diversifying its supply base. In addition, the cycle time between initial supplier request and on-boarding has improved substantially. Tasks that took several days with the old system are now completed in hours or minutes. In fact:
Aravo also helps ensure the company’s regulatory compliance by collecting all relevant supplier credentials and certifications, giving them the assurance that vendors meet industry and legal standards. Managed processes ensure that records are kept, reports submitted, and regulatory deadlines met.
“Managing supply base complexity through automation and best practices delivers real bottom-line results,” said Mike Saracini, CEO of Aravo Solutions. “Reducing cycle times, improving information accuracy, and ensuring regulatory compliance reduce dollars spent on supplier management, organizational risk, as well as the cost of compliance.”
The world’s best-run businesses utilize Aravo’s Cloud-based Supplier Lifecycle Management solutions and Supplier Risk Services to find and manage trading partner relationships, reduce supply chain risk, ensure global regulatory compliance and lower the cost of managing suppliers by up to 72%. Aravo launched the market’s first SIM/SLM solution in 2004 and has been the leading innovator in the space ever since. Customers such as General Electric, Accenture, and Boston University rely on Aravo to manage information and processes for over 2 million global suppliers. Aravo is based in San Francisco, with offices in Chicago, Dallas, New York, Portland, Monterrey, Mexico and Ahmedabad, India, and is backed by over $50 million in investment from Cisco Systems, Big Sky Partners, and others. For more information regarding Aravo’s award-winning solutions please visit our website at https://aravo.com.