Traverse Systems Launches New Supplier Onboarding Solution, Rivet
Traverse Systems today announced that their new business partner management solution, Rivet, is now generally available to the public. The new tool, built by Traverse Systems’ team of supply chain industry experts, minimizes or eliminates the complexity, time and expense associated with supplier onboarding.
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“In the 20+ years we’ve been in business, one of the most common refrains we hear is that supplier onboarding is taking up too much time, money and energy in the modern retailer’s business,” said Traverse Systems CEO Greg Holder. “Enterprises are carrying more SKUs from more suppliers than ever, and too often, the result is that enterprises or companies must choose between speed-to-shelf and data accuracy. We built Rivet so companies can spend less time getting it together, and more time getting it done.”
Rivet is a highly configurable tool designed to address a myriad of business process challenges, regardless of industry. The solution also comes pre-configured with different workflows, called Blueprints.
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The first available Blueprint is for supplier onboarding, having been identified as an area that could greatly benefit businesses, and retailers especially. On average, a typical enterprise will bring on anywhere between 100-500 new suppliers per year, and one study found that it takes an average of 13 communications from a business to a supplier to get their attention — let alone execute the remainder of the process.
“Efficient supplier onboarding is a significant opportunity for retailers and suppliers alike to dramatically reduce both time and costs in the retail supply chain,” said Kim Zablocky, founder & CEO of the Retail Value Chain Federation (RVCF). According to RVCF, Rivet’s functionality would replace two full time employees, typically at a salary of $50-60K annually. Before the impact of speed-to-shelf and data accuracy is measured, Rivet provides a $100-120K return on investment in labor savings alone.
Rivet combines features found in many traditional project management applications while at the same time serves as a repository for critical information, spreadsheets and other documents that support the retailer/supplier relationship. Enterprises are able to automate rote tasks, create quizzes, and send and receive messages all within the solution. Items that are past due, or at-risk of being past due, are automatically flagged. Additional workflows, called Blueprints, will become available over time.
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