Source to Contract (S2C) is more than a process which begins at “I need something” and ends at the “I got something”, together known as the Procurement process. To simplify this overall process, Raindrop is built with technologies used to evaluate your desired product and/or service requirements, to developing a sourcing strategy associated with acquiring those items, go out to market suppliers and source via a RFx or Reverse Auction, and ultimately on through the contract negotiation and signature phases.
Raindrop was founded on the idea of effective spend management with the native ability to perform all necessary functions all in one place. Its technologies feature planning, supplier management, sourcing management, and contract management modules, seamlessly tied together through a cohesive Enterprise Spend Management platform. With Raindrop, gain visibility and control through the intelligent use of your own supplier and sourcing information, executing data-driven decisions, speeding up analysis, negotiations and contracting, all specifically designed to mitigate spend leakage and digitize your Procurement function.
Attain 95% visibility of supplier and commodity spend. With the power of Raindrop, you can achieve greater data visibility and identify cost savings opportunities, including areas for contract consolidation & preventing unnecessary purchases. Precise data tracking and contract renewal notifications help in preparation for renewal negotiations, avoiding automatic renewals, late payments, while securing the most beneficial terms for your company.
Raindrop's supplier compliance and governance solutions will help you drive continuous improvement in all supplier focused categories like diversity and inclusion, risk management, information security, compliance, quality, performance, throughout the course of the contract term. Maintain historical performance on any desired criteria, assign and track improvement tasks, and much more.
Raindrop provides automatic alerts for upcoming contractual expirations and renewals, so your team can gain 100% awareness of contractual obligations and never miss a notification deadline. Raindrop continues to identify risks and opportunities based on commodity pricing, and has fully configurable approval workflows
Predictive Procurement with Raindrop – A platform with machine learning and artificial intelligence designed in, using your company spend and sourcing history data to proactively predict your next financial benchmarks. Gain valuable market insights on commodity discounting to predict where you’ll end up before starting.
Raindrop adheres to all of your security and compliance needs while providing multi-language and multi-currency capabilities, all built on leading cloud infrastructure and data encryption.
Raindrop provides Spend Analytics, Spend Planning, Sourcing, Contract Lifecycle Management, and Supplier Relationship Management. Instead of data silos in multiple products, Raindrop’s seamless integration across the modular platform ensures your team has a unified view of spend and can drive specific actions to maximize the value of your investments.
Raindrop’s Enterprise Spend Management platform supports the entire “direct” and “indirect spend” corporate spend components, while solving spend leakage by simultaneously maintaining and controlling the funds flowing out of your company. From annual planning, through contracting for the necessary goods and services, Raindrop’s broad and flexible Source-to-Contract capabilities provide rapid value attainment to managing how and who sells into your company. Raindrop is designed to scale, easily capable of supporting sourcing of small companies, all the way up to large global enterprises. Embark on a true procurement digitization journey with Raindrop, leading to better business strategies and returns on your investments. Raindrop is the game-changer the industry needs.