A vendor compliance management platform proves instrumental in ensuring compliance with legal, statutory, technical and other requirements for companies and their suppliers. It also has a beneficial impact on local communities by exposing them to more trading opportunities.
Empower Local Suppliers
For example, vendor management can significantly improve the welfare of communities around the mine. It allows small and medium businesses to partake in the mining company’s procurement process, which involves sourcing various suppliers for their specific needs.
The benefits are two-fold. SMMEs can register as vendors for the mining company to supply the enterprise with related products and services, making themselves available for trading.
The supplier data is centralised in the vendor management system, ensuring all credentials and documentation are visible, accurate and verified.
By successfully achieving legal compliance alone, suppliers immediately access industry-relevant opportunities, for example, competing for open tenders at the mine. As their business grows, local mining suppliers are considered low trade risk and improve their chances to secure more business.
Our SHEQX (Safety, Health, Environment and Quality) management solution, part of the XGRC product range, is an integrated management system that aggregates SHEQ data in a single, auditable database, to manage analysis and reporting effectively.
Grow Your Business
On the other hand, mining entities have access to a growing list of compliant suppliers in one place, representing the communities around the mine, which improves business selection and local trade dramatically.
Based on the vendor data collected, mining companies can quickly identify various suppliers in need of further development and choose to instead engage with their products and services. It can also benefit their BBBEE level status by using vetted local suppliers.
In conclusion, a vendor management solution can benefit both mining enterprises and local suppliers by enabling access to more business opportunities in the community and empowering small businesses that otherwise would not have access to these life-changing prospects.
VCM is a vendor management platform designed to provide complete visibility on all suppliers’ levels of compliance with statutory, legal, BBBEE and technical requirements.
Contact XGRC Software to find out more about the VCM vendor compliance management solution. Visit www.vendorcompliance.co.za for more information.