Medius and its partnership with Equiniti
Shannon Kreps of Medius discusses how Equiniti is harnessing Medius supplier management solutions
Shannon Kreps , Vice President Product Marketing and Marcom at Medius started her career in the purchasing department over 25 years ago as a buyer . The spend management process is one that Kreps is very familiar with . At Medius Kreps ’ job is to serve as a conduit between the company ’ s research and development team , as well as its Salesforce , and its customers .
“ At Medius we like to say that we simply help our customers find the right suppliers to buy and pay for what they need with full control over cost and compliance . We really are a spend management suite . It is our role to make sure that our customers are able to purchase items that they need , pay for them with confidence , and do everything across the whole source of the pay platform ,” says Kreps .
How Equiniti is harnessing Medius ’ s supplier management solutions
“ Equiniti is a great example of a company that ’ s using supplier management to the fullest . They actually begin at the start of the process with a feature in Medius that we have called demand capture . it allows anyone in the organisation to request a new supplier to come on board . When that happens , it ’ s routed throughout the organisation . They have some pretty stringent requirements on what they need to ask regarding new suppliers coming on board , and it really varies depending on the type of supplier that they use . So Equiniti has supplier questionnaires that are completed internally to make sure that the right information is being captured as well as externally for their suppliers to make sure that they ’ re providing the right requirements that they need .
“ Equiniti then uses a robust approval process , so that once a supplier has answered a set of questions that is routed to the appropriate person they ’ ll review that information before moving onto the next stage of the process . Equiniti really uses this process to make sure that its suppliers are properly vetted and managed . They also use supplier management for the ongoing maintenance of their suppliers . It ’ s not useful for organisations to spend all of that time setting up your supplier to begin with only to then let it fall . It is important to conduct ongoing management .”