Drive Organizational Innovation 

Innovation drives value; cooperation with suppliers and vendors drives speed to value.

Your business doesn’t operate in a vacuum. Capitalizing on innovation requires close cooperation with strategic suppliers and vendors.  

“You don’t treat every supplier the same and they don’t treat every customer the same.  When you need to lean on your suppliers during a critical innovation initiative you’re leaning on relationships.”

Deploy an Innovation Procurement Strategy 

  • Segment your vendors to shift time and relationship efforts towards your most strategic partners
  • Tag vendors to specific innovation initiatives and track progress towards specific goals
  • Speed procurement for innovation purchases by deploying streamlined no-code workflows, which tie tightly to legal, information security and other bottleneck approvals
  • Increase visibility in the innovation pipeline and track investments in innovation procurement
  • Increase stakeholder engagement in the innovation process

Collaboration is a Key Driver for Innovation

  • Map vendor teams directly into your own teams
  • Treat vendor partners more like employee collaborators 
  • Connect your talent across departments, functions and geographies to increase communication and collaboration
  • Deploy no-code workflows to automate tedious aspects of proper process flow
  • Gain speed and collaboration without sacrificing the benefits of process and controls

“If a supplier is central to your ability to innovate, you need to have a strategic relationship with them.”

Book a demo with Terzo today!

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