Help your partners get GBS
A chain is as strong as its weakest link and strong supply chain partners are critical to an organization’s success. From procuring raw materials at the right price to the selling of finished goods and timely collections, it all comes down to choosing the right set of partners.
Yet, due to the lack of access to the historical transaction data, it becomes difficult to determine the business’s health and make an informed decision. Additionally, it can be inconvenient, costly, and time-consuming to go out and initiate the process of determining it.
The traditional way has been to assess basis annual turnover, and one has to rely on the business owner’s words as there is little to prove the authenticity of the documents. Additionally, in present times which are marred with volatility, a dated annual statement doesn’t convey the current health of a business.
What if there is a product that shows the accurate business health of partners without any additional effort or cost? Well, there is one – Vayana Good Business Score (GBS)!
Vayana GBS is an automated tool that gives a sense of how a business is doing at any given point in time, by analysing the historical GST returns. GBS can help the procurement, finance, and sales teams of a corporate in the following ways: –
- Ensure the best vendors are onboarded as every potential supply chain partner can be asked to take the score, in addition to the corporate’s existing vendor assessment tests
- Take timely action in case of underperforming partners
- Reduce substantial costs, as the corporates will not be required to spend time, effort, and money on getting a score for their partners from external agencies. The partners need to take the GBS Score themselves and report the same to the corporate
Vayana Good Business Score should be the preferred tool when it comes to securing your supply chains as it is: –
- Easy to use: Vendor onboarding is completely digital and GBS can be integrated into the existing ERP of the SMEs
- Reliable: The score is developed in partnership with CRIF, which is one of the leading credit information providers, making the score credible
- Cost-Effective: The tool is automated with zero additional cost to be incurred by SMEs
- Accurate: The GBS assesses the real-time pulse of the business, using the latest GST data rather than outdated financial statements
Vayana GBS can help corporates make well-informed supply chain decisions by onboarding the best partners and effectively monitoring them from time to time.
Click here, to help your supply chain partners calculate their GBS.
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