New Delhi: On the occasion of completing the milestone of 10 years in the industry, Avaali, a company that provides automation solutions for Digital Business Operations, announced a new release of its flagship product, the Velocious Supplier Relationship Management (SRM) application.
Since its inception Avaali has achieved various short-term and long-term goals and has been maintaining positive cash flows, positive EBIDTA margins, and zero layoffs with attrition ratios decreasing by over 7% last Financial Year and joining ratios improved to over 87%. Avaali plans to continue to keep these as key focus areas in addition to building a significant scale.
The Velocious SRM 4.1 is now enriched with a compelling Supplier Information Management solution. Suppliers can submit their onboarding details via web-based forms, leverage the fully automated checks and validation to ensure correctness, and use the configurable workflow engine for multi-level review and approval process and an in-built query resolution mechanism. With this solution, enterprises are streamlining information about their suppliers by capturing detailed supplier profiles while automatically validating the same for correctness and accuracy. Therefore, businesses can benefit by having accurate and up-to-date supplier information in the system, avoiding duplicate vendor code creation and streamlining the supplier onboarding approval mechanism.
Commenting on the occasion, Srividya Kannan, Founder Director, Avaali Solutions, said “With this new version, Avaali looks forward to assisting customers in maintaining the accuracy and consistency of their supplier information. This updated version complements our full-featured Velocious SRM solution in order to be more relevant for large enterprise requirements to manage their suppliers effectively, gain supplier visibility as well as reduce costs.”
Piyush Agrawal, Practice Director, Velocious, Avaali Solutions also said, “With Avaali’s new version, customers will now have a robust solution to collect reliable and validated supplier data, subsequently boosting supplier relationships and strengthening compliance, increasing efficiency, and cost reduction in the P2P process.”
Over the past couple of years, enterprises have witnessed significant disruptive events. Supply shifts have been cited as the top three disruptions resulting from these events. Availability and visibility to supplier information, collaboratively engaging with them, and ensuring good governance while reducing costs have been top of mind for large enterprises. Velocious SRM enables superior supplier management, sourcing, risk, and performance via its full-featured solution. The solution allows for automation of the procurement process’ complete lifecycle, including sourcing, procurement, and supplier management.