SourceDay: Automating Procurement Processes

Clint McRee, Co-Founder
Tom Kieley and Clint McRee, founders of SourceDay, combined their enterprise software and manufacturing backgrounds to start SourceDay. Years in manufacturing taught them that supplier management is costly, painful and risky for all companies. Why? Because traditional ERP systems have technological gaps and lack modern tools for procurement teams to manage their businesses. “A simple acknowledgement or confirmation that a supplier received a purchase order could take days of phone calls, multiple emails and other reminders which doesn’t scale for companies that issue thousands of purchase orders each year. Without automated tracking, it’s easy for POs to get lost, acknowledgements to be missed, and thus parts receipts to be delayed—causing a chain reaction of problems,” begins McRee. Designed for manufacturing and distribution companies, SourceDay’s cloud-based SaaS application extends the purchasing capabilities of traditional ERP systems and automates purchase order management, saving money and countless hours, in addition to providing a single communication platform between buyers and vendors.

Even efficient manufacturing companies using modern-day lean processes face unexpected expenses, risks, and challenges with supplier management— due to poorly performing suppliers and material issues. With this in mind, Kieley and McRee set out to create purpose-built software that works with ERPs to improve supplier performance and reduce risk, while increasing the organization’s bottom-line. “JIT (Just in time) inventory is essential for today’s manufacturing and distribution companies to remain competitive. However, supplier issues mean that companies seldom achieve JIT. The downstream impact includes larger inventories, production down time, increased production cost, and late shipments to customers, ultimately impacting customer satisfaction. At SourceDay, we help customers minimize supplier-side expenses and risk by improving supplier performance,” adds McRee.

SourceDay’s web-based platform allows buyers and suppliers to manage POs in one place, making purchasing tasks more efficient. SourceDay’s automation eliminates manual processes such as emails, phone calls and spreadsheets. An automated supplier scorecard component comes standard in the platform, giving users real-time access to historical, current, and trending performance metrics to quickly assess which suppliers are in good standing or at risk.


At SourceDay, we help customers minimize supplier-side expenses and risk by improving supplier performance


By leveraging SourceDay, suppliers receive real-time, automated and actionable updates on constantly changing PO data.

The firm’s team of procurement management specialists has helped many manufacturing organizations extend their purchasing capabilities—significantly saving time and reducing errors. For more than 85 years, Pennsylvania-based Universal Electric Corporation has been manufacturing innovative electrical power solutions that meet their clients’ needs and budgets. UEC made the manual system work throughout its years of operation, which was labor-intensive and monopolized buyers’ time. “SourceDay combines all of our PO data from every key vendor and buyer in one place, making the latest order and PO updates easily accessible for users—minimizing the risk of missing acknowledgements. Buyers are thus empowered to be more effective and productive,” says Brian Maden, Global Supply Manager at UEC.

“SourceDay can be implemented in a matter of hours, not weeks, since it is a cloud-based SaaS application,” mentions McRee. With minimal input from IT resources, our implementation specialists enable clients to seamlessly connect to their ERP. “It was about 2 hours of work to set up the SourceDay integration,” says Laurie Charlton, ERP Business Analyst, Universal Electric Corp.

Forging ahead the firm plans to add ASN (Advanced Shipping Notification) and has recently added document management capabilities to its platform. “While document management systems are plentiful, no solution helps manufacturing companies collaborate on revision controls and document changes outside their four walls. This is a major area of focus for us in 2017. We will extend documentation management directly to suppliers and provide an easy method to collaborate,” concludes McRee.

Company
SourceDay

Headquarters
Austin, TX

Management
Clint McRee, Co-Founder

Description
Provides automated purchase order platform that simplifies purchasing tasks and supplier collaboration

SourceDay