In this Spend Matters PRO Vendor Analysis, we provide an overview of Craft and its solution for supplier intelligence.
Every supplier comes with a large variety of necessary information to manage and ways it can increase a buyer’s risk. Our current globally interconnected era in which suppliers and buyers communicate across time zones, languages and sociopolitical barriers has only complicated this issue further. In fact, data management is continuously a top issue for CPOs year-over-year as the growing amount of data turns into an unmanageable huge workload for both procurement teams and suppliers. It is necessary for a supply chain’s health that all buyers have accurate, easy-to-access, up-to-date information about their suppliers.
Craft serves as a supplier intelligence layer, pulling data from over 70 partners and the broader web to provide its clients with easy-to-use, up-to-date supplier information. It has a deep understanding of supplier risk financially, socially and geographically and offers in-depth supplier profiles that include everything from credit scores to warehouse locations. It can enrich and update supplier information without requiring anyone to enter data, a great asset to the aforementioned unmanageable workload and time crunch that too much data creates.
Here’s why Craft matters:
- To the market — Craft follows the new trend in supplier risk; it considers ESG and logistical problems, instead of just financials.
- To customers — Craft consolidates the information from its many data providers into one place, providing a comprehensive, easy-to-use overview of supplier information and risk.
- To potential buyers — Craft consolidates roughly 450 data points and data from 70 partners to ensure a comprehensive understanding of supplier profiles and risk is available to its customers.
This Spend Matters PRO Vendor Analysis explains what differentiates this vendor, gives an overview of its capabilities and competitors, provides tech selection tips and closes with key analyst takeaways.