SourceDay: Reimagining ERP with Cutting Edge Technology and Clear Vision
Tom Kieley, Co-Founder and CEOSourceDay, a company focused on automating communication between suppliers and buyers, digitally transforms supply chain collaboration and procurement workflows by connecting buyers and suppliers in an automated platform where RFQ, PO, and AP processes are managed in real time with full visibility. “Our collaboration revolves around real-time purchase orders and procurement for both sourcing and fulfillment of raw materials and parts that efficiently lead to net customer deliveries, improved inventory management, and driving better on-time (and in-full) deliveries,” says Tom Kieley, Co-Founder and CEO of SourceDay.
The core SourceDay solution automates procurement workflows, PO acknowledgments by suppliers, shipment info changes, and real time visibility to last-mile freight delivery. The platform tracks and traces shipments of over 450 carriers globally and automates visibility to every piece of significant actionable data.
Clients have access to data and analytics insights, allowing them to execute their direct materials procurement in more strategic ways. SourceDay’s sourcing module serves as a quote request for clients, giving them the ability to issue requests to multiple suppliers from a single platform and automatically retrieve data sets like lead time, price break, component quality, historical data points, and more. The AP Automation module offers three-way matching with 100% clean PO, receipt, and invoice data.
SourceDay writes back into the ERP and all procurement demand data is accurate in real time and at regular intervals.
With the application of this module, organizations can add significant value to their ERP through real-time collaboration. Hence, SourceDay can be thought of as a new-age version of legacy ERP technology. It reads data from ERPs in real time or at regular intervals, keeping both parties updated. The company works in-hand with their customers and shoulders the responsibility of the integration process. SourceDay completes the integration, training, and onboarding operations within a swift 90-day schedule.
With the application of this module, organizations can add significant value to their ERP through real-time collaboration. Hence, SourceDay can be thought of as a new-age version of legacy ERP technology. It reads data from ERPs in real time or at regular intervals, keeping both parties updated. The company works in-hand with their customers and shoulders the responsibility of the integration process. SourceDay completes the integration, training, and onboarding operations within a swift 90-day schedule.
SourceDay has leveraged a heightened awareness of ERP processes during the pandemic. In an ERP market that is expected to double over the next ten years, SourceDay is seeing its own breakneck growth: 65 percent last year and over 80 percent this year. The organization has recently announced their Series C funding of $31.5 million, funds that CEO Tom Kieley says will be used to expand product development and the company's go-to-market. The organization has also partnered with several large ERP vendors that are helping it materialize a better market strategy for the days to come.
Our collaboration revolves around real-time purchase orders and procurement for both sourcing and fulfillment of raw materials and parts that efficiently lead to net customer deliveries, improved inventory management, and driving better on-time deliveries.
Company
SourceDay
Headquarters
Austin, Texas
Management
Tom Kieley, Co-Founder and CEO
Description
Automates communication between buyers and suppliers and integrates with any ERP system, ensuring client’s entire organization has accurate, real-time data about supplier pricing, quantity, lead times and delivery dates.
