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Aravo to Transform Manual Supplier Management System, Simplify Processes and Reduce Operating Costs for Fortune 500 Firm
SAN FRANCISCO, Calif., November 1, 2011 – Aravo Solutions, Inc., the leading provider of cloud-based Supplier Lifecycle Management (SLM) and B2B collaboration solutions, announced today that a leading global credit card provider has selected Aravo to automate supplier management processes and drive supplier information integration across their enterprise.
Aravo was selected for the project following a lengthy and competitive RFP process. The selection was based not only on Aravo’s market-leading SLM technology, but also on its expertise and track record transforming complex business processes for global enterprises. The company will deploy Aravo as the technology foundation to manage a series of strategic supplier management processes, ranging from supplier on-boarding and regulatory compliance tracking to performance and risk management.
Paper documents, email approvals, Excel spreadsheets, and manual system updates represented a major — and growing — problem for the Fortune 500 firm’s procurement team. The high degree of cumbersome, manual processes prevented them from proactively and strategically managing supplier relationships. Given the continued growth of their global business, and the demands of other internal stakeholders for timely, accurate supplier information, they realized the critical need to deploy an integrated supplier management system that would not only allow for automation of current supplier enablement processes, but also manage supplier performance, risk and regulatory compliance.
With Aravo SLM, the company will deploy a supplier self-service portal, combined with dynamic configured surveys and workflows, to automate all aspects of supplier enablement and management. Aravo’s supplier Performance, Risk and Compliance modules will leverage that single source of truth to provide management dashboards and alerts to enable the procurement team to focus on the most critical, strategic supplier relationships.
“Aravo has a strong presence in the financial services industry”, said Michael Saracini, CEO of Aravo. “Whether payment cards, commercial banking, insurance, or investment management, financial services companies depend on Aravo to allow them to focus on their core competencies, while entrusting their supplier lifecycle management needs to us.”
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.