Aravo Solutions Announces Patent Pending For Supplier Enablement For Enterprise Systems
Aravo Solutions, a provider of on-demand Supplier Information Management (SIM) software and services to automate the entire supplier information lifecycle, recently announced the company has a patent pending for "Method and System for Computer-Implemented Procurement from Pre-Qualified Suppliers." Aravo's new method for supplier enablement improves upon existing practices by providing very accurate and detailed supplier information to existing e-procurement, ERP, and financial systems to quickly and properly pre-qualify suppliers.
Aravo's inventive system is a method for computer-implemented procurement by a buyer from suppliers, including the process involved in identifying and assessing the capabilities of potential suppliers, engaging and pre-qualifying selected potential suppliers, and enabling automated procurement transactions. Aravo's method implements supplier enablement in three phases: supplier selection by a buyer, activation of each selected supplier, and management of relationships between the buyer and each selected supplier.
"It is becoming increasingly important for buying organizations to be able to identify and assess the capabilities of potential suppliers, not only to improve profitability and comply to various industrial and environmental regulations, but also to be a good corporate citizen," said Aravo Solutions CEO Tim Albinson. "Armed with substantial supplier knowledge provided by Aravo's supplier information management solutions, buying organizations gain deeper visibility into and control over their supplier relationships."
Various methods for computer automated procurement of goods and services by buying organizations exist, but these conventional e-procurement systems -- typically integrated with ERP and financial vendor master systems -- are not effective as buyers have struggled to enable and scale accurate supplier and product information. For example, conventional e-procurement systems have few catalogs from suppliers; do not have accurate supplier profiles such as diversity status, supplier contacts, and supplier addresses; and are not sufficiently configurable to meet the needs of a variety of buyers.
Aravo's new SIM service-enablement platform generates and supports a configurable master record that specifies data for the buyer and can be configured for any leading ERP and e-procurement system, including SAP, Oracle and Ariba. In typical deployments, the SIM service-enablement platform is implemented on a single, multi-tenant system hosted by Aravo.
About Aravo Solutions
Aravo helps companies quickly and accurately on-ramp and manage supplier master data, enabling them to create error-free transactions, provide actionable decision support, and turn supplier information into a valuable asset that can be leveraged throughout the organization. Aravo SIM is an on-demand service-enablement platform providing enterprises with a proven framework for enabling and managing supplier information within leading ERP and e-procurement applications such as Oracle, SAP and Ariba. Aravo is headquartered in San Francisco, California. For information, visit Aravo's Web site at www.aravo.com.
SOURCE: Aravo Solutions