How Sustainability Champions are Changing Business for the Better

By Sarah Shannon

Today’s businesses are changing for the better because of the sustainability leaders working in their company. These people don’t wait around. They know business must act fast to solve environmental problems. That’s why they are always ready to try new technology developed with sustainability in mind – directly addressing the challenges the likes of responsible sourcing leaders and impact officers face monitoring value chains and managing reporting tasks.

Making Buying Responsible

As we know responsible sourcing teams push their companies to buy things in a way that’s good for the planet and fair to people. They carefully select suppliers who care about the planet and treat their workers well. This undoubtedly makes the company look good and attracts customers who care too.

Using New Tech

As mentioned earlier sustainability leaders embrace new ways of doing things and that includes new technology designed with sustainability at the forefront – instead of retrofitted in a clunky fashion. For example they might use clean energy, eco-friendly packaging, or smart data tools to use less and save more. Pulse technology is developed to enable leaders to efficiently verify supplier claims and evidence sustainability activity in their supply chain.

Benefits of Changing

When companies listen to appointed sustainability leaders, they win in many ways:

They Work Better: Making things more efficient means doing more with less, saving time and money.
They Save Money: Being kind to the earth often costs less in the long run, like using less energy or producing less waste.
They Help the Planet: These actions are good for the environment, which is good for everyone’s future.
They Stand Out: Companies that genuinely care about these issues attract customers, investors, and partners who value the earth.
They Avoid Problems: Buying responsibly and using new tech helps companies avoid trouble with supply chains, running out of resources, and breaking environmental laws.

Ultimately sustainability leaders and responsible sourcing specialists are key to making businesses more sustainable and one big step forward is being open to new technology. Their switch to new tech pays off by making operations smoother, saving money, and helping the planet. As we face big climate challenges, their role is more important than ever. They’re making sure businesses are ready for the future, in a way that’s good for everyone.

Talk to our client services team and discover how Pulse Tech can verify your responsible sourcing.

Navigating the Regulatory Maze:

By Sarah Shannon

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Why Gathering, Organising, and Storing Supplier Certifications is Crucial

In today’s increasingly complex and regulated business landscape, companies across industries face a growing list of compliance requirements. Ensuring that your unique organisation adheres to these regulations is not only a legal obligation but also vital for maintaining your reputation and competitiveness (and is some cases keeping you out of jail!).

One aspect of compliance that often gets overlooked or is mismanaged is supplier certifications. In this blog post, we’ll explore the importance of gathering, organising, and storing supplier certifications in a regulatory world. And how procurement software can make this process seamless so as not to slow down business and ensure the information required is complete.

The Regulatory Landscape

Regulatory requirements have become even tougher in recent years, touching almost every aspect of business operations. Whether it’s anti money laundering, environmental regulations, safety standards, data privacy laws, or industry-specific compliance mandates, the consequences of non-compliance can be severe – from hefty fines to reputational damage and even legal action.

The Role of Supplier Certifications

Suppliers and their compliance with relevant regulations is an extension of your own compliance. Therefore you are responsible for gathering and storing certifications that evidence a supplier’s compliance with specific standards or regulations. As you know these certifications can relate to a wide range of areas, including quality management, carbon emissions, anti slavery, cyber security health and safety, to name but a few.

5 reasons to stay on top of supplier certifications:

1. Legal Obligations: Many industries are bound by laws and regulations that require them to ensure their suppliers meet certain standards. Failure to do so can lead to legal consequences. Keeping track of supplier certifications helps you demonstrate your commitment to compliance.

2. Risk Mitigation: Non-compliant suppliers can introduce significant risks into your supply chain that you could be held accountable for. This could result in production delays, product recalls, or damage to your brand reputation. By having supplier certifications stored and retrieved easily, you can quickly assess and mitigate these risks effectively.

3. Reputation Management. In an age where information travels at the speed of light, a single compliance violation by a supplier can damage your brand’s reputation overnight. Ensuring your suppliers are compliant and having the certifications is vital for maintaining trust with your customers and stakeholders.

4. Operational Efficiency: Managing supplier certifications manually can be a time-consuming and error-prone task. Procurement software can streamline this process by automating the collection, organisation, and storage of certifications. This not only saves time but also reduces the chances of missing critical information.

5. Competitive Advantage: Being able to demonstrate your commitment to compliance can give you a competitive edge. Customers and partners are increasingly looking for suppliers who can provide transparency and assurance regarding regulatory compliance.

The Role of Procurement Software for managing certifications

To effectively manage supplier certifications in today’s regulatory world, modern businesses are turning to procurement software solutions. Here are our top 3 reasons to manage certifications on Pulse:

1. Centralised Asset Repository: Store all supplier certifications in a single, centralised, secure digital repository. This makes it easy to access and share the necessary information with relevant stakeholders.

2. Document Tracking and Alerts: Track expiration dates and renewal requirements for supplier certifications. Receive notification when certifications are about to expire, allowing you to proactively manage compliance.

3. Analytics and Reporting: Gain insights into your supplier compliance landscape through analytics and reporting. Identify potential risks, and work with suppliers to support areas for improvement.

In conclusion, in a regulatory world where compliance is non-negotiable, the importance of gathering, organising, and storing supplier certifications cannot be overstated. It’s not just about ticking boxes; it’s about protecting your business, your reputation, and your bottom line. Procurement software is a powerful tool that can simplify this process for any organisation that manages certificates, policy documents for contractors and suppliers, ensuring that you stay ahead in the ever-evolving regulatory landscape. Compliance is no longer a burden, by embracing technology to manage your supplier certifications effectively.

Ready to navigate the regulatory maze – book a short demo today!

5 mistakes to avoid when engaging suppliers

By Sarah Shannon

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For every successful procurement project, there are as many or more unsuccessful projects that run into common pitfalls. The critical success factor to engage suppliers effectively is to identify and avoid common mistakes early on in the process. In this article we identify 5 mistakes to avoid and why it matters.

Consider this scenario – you’ve been asked by your boss to put work out to tender which involves engaging existing suppliers and reaching out to new possibilities. As procurement is not your day job so you want to move forward quickly and get on with your day to day job. Yes? However, you know taking your time and doing it correctly will save you a lot of headaches further down the line. That’s why understanding and mitigating common supplier engagement blunders is paramount for your procurement success.

Let’s explore the 5 mistakes to avoid when engaging suppliers; recognising them can help ensure you stay on track and reward the contract to the supplier that is right for your business (and avoid bumpy relationships down the line).

MISTAKE #1: Finding the Right Balance in Requesting Documents

When asking for proposals or information, it’s important to provide the right amount of detail. Too little information can lead to an inadequate solution, while too much detail can limit creativity. Striking the right balance allows solution providers to showcase their abilities while also encouraging innovation.

MISTAKE #2: Involving the Whole Organisation

Leaving the specification process solely to technical staff can result in overlooked usability and process flow elements. User satisfaction is crucial for a successful solution. So involving users from various departments ensures better buy-in from all stakeholders for the final choice.

MISTAKE #3: Considering the Full Solution

Don’t just focus on the product or service solution itself. Instead evaluate the implementation and support aspects as well. Without skilled implementers or proper support, the project could face delays or not meet expectations. Building strong relationships with suppliers is key to long-term success.

MISTAKE #4: Ignoring Total Cost of Ownership (TCO)

Don’t base your decision solely on the initial price. Consider the overall cost of ownership over several years, including hardware, maintenance, and training expenses. Understanding the TCO is essential for making an informed purchase decision.

MISTAKE #5: Planning for the Future

Don’t overlook future needs and technological advancements. Make sure the product or service solution can adapt to changes and integrate emerging technologies. Scalability is crucial for staying competitive and avoiding costly re-implementation.

By recognising these common mistakes and taking proactive steps to address them, businesses can improve their procurement processes and make better decisions that align with their long-term goals and provide maximum value.

Discover our Procurement Platform designed by procurement professionals – loved by buyers and suppliers. Book a Pulse Procurement demo today here