SourceDay: Enabling Integration with Automated ERP

Tom Kieley

Co-Founder & CEO

“We eliminate surprises by bringing buyers and suppliers together in one place to collaborate, making it easy to see changes at the line level across RFQs, POs, and Invoices”

When it comes to the supply chain space, buyers were having to track order confirmations and ship dates on Purchase Order (PO) lines manually in emails, spreadsheets, phone calls, and text messages. This could lead to missing updates/changes because of the way they are coming in as well as data not being updated in the ERP. Meanwhile, mismatched invoices to Pos could create inefficiencies in the whole process. SourceDay—the supply chain performance software—is bridging this gap between a company’s ERP and its supplier network. In a nutshell, SourceDay’s supply chain software helps companies manage their direct spending by integrating with their ERP system, ensuring entire organizations have accurate, real-time data about supplier pricing, quantity, lead times, and delivery dates. “We eliminate surprises by bringing buyers and suppliers together in one place to collaborate, making it easy to see changes at the line level across RFQs, POs, and Invoices,” explainsTom Kieley, Co-Founder & CEO, SourceDay.

SourceDay has a unique network of Direct Material Buyers and Suppliers driving automated workflows against real-time procurement demand and more importantly the constant change. While ERPs and more specifically the MRPs of the world do a great job of driving direct material demand planning, that is only half the story as Suppliers need that data in real-time to be able to collaborate digitally with their trading partners. With SourceDay, companies could take the conversation out of email and off the phones and give visibility into all orders. “We integrate with any ERP system, ensuring your entire organization has accurate, real-time data about supplier pricing, quantity, lead times, and delivery dates. We will partner with you to get your suppliers onboarded and trained while allowing accurate data flowing back into your ERP to help prepare for future supply chain disruption,” pointsKieley.

The solution’s AP Automation automatically matches POs, receipts, & invoice data, making it easy to find and resolve mismatches. Meanwhile, SourceDay Insights—an innovative reporting platform provides a new way to see and use supply chain data to help automate business. SourceDay Insights uses action data that comes from the SourceDay platform. The number of changes on PO lines, supplier collaboration, move-in, and move-out dates, etc., all come together and provide the key performance metrics shown on the SourceDay Insights dashboard.

Delivering Revenue with Performance

SourceDay tracks all PO line-item changes done on the platform that buyers and suppliers complete. The platform alerts both the buyer and supplier about the changes so they can focus on what needs to be done, instead of looking at all PO lines. The SourceDay platform gives the buyer and supplier multiple options of communication notes on specific PO lines, document sharing, and simply updating a PO line, as it will notify the buyer or supplier that something needs attention.

Furthermore, SourceDay takes the most critical component of delivering revenue, Supplier Performance, out of spreadsheets and email and into an automated process for collaboration and data accuracy on supplier deliveries. With over $125B in Procurement transactions, SourceDay captures actionable Insights and Supplier Performance to enable more intelligent ERP Demand Planning and Scheduling for Procurement of direct materials within the ERP.

The Road toSupply Chain Performance

The inception of SourceDay dates back to 2013 when the company’s COO Clint McRee experienced the struggles and challenges behind supply chain and supplier performance while working at a company. Later in his career, Clint met Tom Kieley leading to the founding of SourceDay. Then began the days to a better way to improve supply chain performance coupled with Tom’s experience in start-ups and product development was the inspiration for SourceDay’s Foundation.

SourceDay has been successful in helping our ERP partners win net-new ERP customer growth as a competitive advantage and we will continue to work with strategic partners that offer a mutual path to a greater product value for its ideal customers. Having just closed its Series-C funding of $31.5M, SourceDay today is focused on deeper product development and innovation. The team will continue to deliver more value to customers and suppliers with actionable and predictable data insights down to the performance of a specific part in a region. “We will also begin our global expansion in early 2023. While we have customers and suppliers all over the world, we will formally grow into new markets with go-to-market and customer success functions. We are in current discussions with ERP solution providers for reseller models and strategic partnerships. Whereas we will continue to be focused on partner growth and welcome inbound interest in partnership opportunities,” concludes Kieley.