Sunnyvale, California (PRWEB) January 22, 2014
SupplierSoft Inc, a pioneer in cloud-computing based supplier relationship management software, today announced several wins for its Conflict Minerals Software, including multiple S&P 500 customers.
SupplierSoft Conflict Minerals Solution helps manufacturers comply with SEC filing requirements as defined in section 1502 of Dodd-Frank Act. Starting in 2014, public US companies and certain foreign companies must declare in their annual SEC filing whether they have Tantalum, Tin, Gold or Tungsten (3TG) in their products, and if so whether these metals originate from mines fueling civil conflict in one of nine covered countries in Africa. While SEC estimates that 6000 US companies will be required to file a Conflict Minerals Report, the expected supply chain ripple will require as many as 12,000 US companies and potentially 195,000 companies to perform some level of supply chain analysis. SupplierSoft automates the achilles heel of Conflict Minerals Management - reaching out to suppliers, collecting and validating supplier responses, and finally rolling-up supplier responses so that companies can do their SEC filings or respond to customer inquiries. The software supports the industry standard EICC/GeSI Template (Conflict Minerals Reporting Template) created by the Conflict Free Sourcing Initiative (CFSI). The system delivers rapid ROI through improved productivity, reduced risk of errors and improved customer satisfaction.
“In an era of relentless outsourcing, the Conflict Minerals reporting requirement represents yet another example of business processes where manufacturers must efficiently collaborate with their suppliers – whether it is on compliance, quality or commercial aspects of the relationship. To effectively manage suppliers in this environment, companies are looking for strategic Supplier Relationship Management (SRM) cloud-based platforms that can help them manage all facets of a supplier relationship and are quick-to-implement, while delivering quick ROI," said Balu Sharma, CEO of SupplierSoft. "We are excited to have multiple S&P 500 customers select SupplierSoft after doing an extensive review of 10+ different software vendors.”
SupplierSoft, Inc, a pioneer in cloud-computing based Supplier Management platform, helps companies automate any and all supplier-facing business processes. SupplierSoft was named in Top-10-Companies to Watch by Managing Automation. SupplierSoft Supplier Relationship Management (SRM) software suite includes Conflict Minerals Management, RoHS/REACH, Procure-To-Pay, Supplier Risk, Supplier Information Management, Supplier Scorecards, Component Qualification/PPAP, Supplier Corrective Action Request (SCAR), Supplier Contract Management and Supplier Audits. The solutions complement and extend ERP systems such as SAP and Oracle by managing supplier processes that are not managed by these systems.
Customers start by automating the highest ROI processes, knowing that they can manage other processes in future. Ease-of-use, a consistent user-interface, global performance and a single login across multiple solutions makes supplier adoption high. SupplierSoft solutions help reduce operational costs and supplier risk, ensure supplier compliance, improve supplier quality and improve customer satisfaction.
The solutions are built on top of Force.com, a proven enterprise platform from salesforce.com for building and running business applications in the cloud. The platform dramatically reduces the Total Cost of Ownership (TCO) by speeding development time and costs by more than 50% over traditional platforms.
Suppliersoft customers include leading edge companies such as KLA-Tencor, Novatel Wireless, and Stampede Global.