What is Supplier Relationship Management?

Supplier Relationship Management (SRM) is a comprehensive approach to managing a company’s interactions with its suppliers. It involves strategies, processes, and technologies designed to enhance communication, collaboration, and performance with suppliers.

SRM aims to create mutually beneficial relationships that go beyond traditional transactional interactions. At its core, it focuses on understanding the needs and capabilities of suppliers, aligning them with the company’s objectives, and fostering a collaborative environment. This involves regular communication, performance assessments, and joint problem-solving initiatives.

The ultimate goal of SRM is to build strong, long-lasting partnerships that drive innovation, improve quality, and reduce costs.

10 best SRM software in 2024

Selecting the right SRM software can significantly impact a company’s ability to manage supplier relationships effectively. Here are ten of the best SRM software solutions available today:

1. Infraspeak

Infraspeak is a cutting-edge SRM software designed to enhance supplier relationships through its Intelligent Maintenance Management Platform. It provides comprehensive tools for supplier management, including onboarding, performance tracking, and collaboration features.

Infraspeak combines SRM capabilities with advanced maintenance management features, making it a powerful tool for businesses that rely heavily on operational efficiency and supplier collaboration:

  1. Seamless Integration: Infraspeak integrates SRM with maintenance management, enabling businesses to manage suppliers and maintenance operations from a single, centralised platform, which reduces administrative overhead and enhances operational efficiency.
  2. Real-Time Collaboration: The platform allows real-time communication and collaboration with suppliers. Businesses can share maintenance schedules, request quotes, and track supplier performance in real-time, ensuring timely responses and effective problem-solving.
  3. Enhanced Performance Monitoring: Infraspeak provides detailed analytics and performance metrics for suppliers. Businesses can track key performance indicators (KPIs), monitor compliance, and evaluate supplier reliability, leading to continuous improvement and better decision-making.
  4. Risk Management: By integrating SRM with maintenance data, Infraspeak helps businesses identify and mitigate risks associated with supplier performance and maintenance activities. This proactive approach reduces the likelihood of disruptions and enhances supply chain resilience.
  5. Cost Efficiency: Infraspeak automates various procurement and maintenance tasks, reducing manual efforts and errors, leading to significant cost savings in procurement processes and maintenance operations. More on how we transform data into real actions here >>

What users love about Infraspeak

“Not only is the system easy to navigate, but it also demonstrates the company’s expertise in creating user-friendly solutions. Infraspeak’s commitment to collaboration has been excellent.” — Louise Erasmus, Procurement Lead at Rohloff Group (KFC)

👨‍💻 Read more reviews here

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2. SAP Ariba

SAP Ariba is an SRM solution that offers a comprehensive suite of tools for managing supplier relationships. It provides capabilities for supplier onboarding, performance management and risk assessment.

3. Oracle Procurement Cloud

Oracle Procurement Cloud is an SRM tool that integrates procurement and supply chain management. It offers features such as supplier qualification, sourcing, contract management, and supplier performance evaluation.

4. Coupa

Coupa is a cloud-based SRM solution that includes modules for supplier information management, sourcing, procurement, and invoicing.

5. Jaggaer

Jaggaer provides an end-to-end SRM solution that covers supplier management, sourcing, procurement, and spend analytics.


GEP SMART is a comprehensive procurement and SRM platform that combines advanced analytics with intuitive user interfaces.

7. Ivalua

Ivalua is an SRM solution that includes supplier onboarding, performance monitoring and risk management tools.

8. SynerTrade

SynerTrade offers a cloud-based SRM platform that focuses on supplier information management, sourcing, contract management, and performance evaluation.

9. Tradeshift

Tradeshift is a dynamic SRM solution that combines supplier management with e-procurement and invoicing capabilities.

10. Basware

Basware is an SRM software that focuses on financial management. It offers features such as supplier onboarding, invoice automation, and spend analysis.

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Why should you use an SRM solution?

Improved Supplier Collaboration

SRM software facilitates better communication and collaboration with suppliers. By providing a centralised platform for sharing information, documents, and performance metrics, businesses can engage more effectively with their suppliers.

Enhanced Supplier Performance

With SRM software, businesses can monitor and evaluate supplier performance in real-time. Performance scorecards and analytics help identify areas for improvement and recognise top-performing suppliers.

Reduced Risks

An SRM platform enables businesses to assess and mitigate risks associated with their supply chain. By monitoring supplier performance, financial stability, and compliance, companies can proactively address potential issues, reducing the likelihood of disruptions and ensuring a more resilient supply chain.

Cost Savings

Effective Supplier Relationship Management software streamlines procurement processes, leading to significant cost savings. Automation of tasks such as contract management and invoicing reduces administrative overhead and minimises errors. Additionally, better supplier collaboration and performance management contribute to more favourable terms and pricing.

Strategic Sourcing

SRM software supports strategic sourcing initiatives by providing insights into supplier capabilities and market conditions. Businesses can identify opportunities for consolidation, negotiation, and innovation, thus helping to optimise the supply base and achieve long-term cost efficiencies.

Supplier Relationship Management and Infraspeak Network™

The Infraspeak Network™ is an innovative product that connects businesses with a wide range of facility management (FM) and maintenance service providers, including suppliers and vendors. It was built on 3 key pillars: 

  1. Open access. Open to all people — Infraspeak users, partners and anyone else looking to improve their client-vendor relationship management.
  2. Procurement. The buying and selling of maintenance services.
  3. Collaboration. Working together to execute FM and maintenance services.

Streamlined Supplier Onboarding

The Infraspeak Network™ simplifies the process of finding and onboarding new suppliers, so you can quickly engage with reliable suppliers and reduce the time to market.

Real-Time Collaboration

Experience real-time collaboration between businesses and suppliers. Through a centralised platform, both parties can share information, track performance, and address issues promptly, ensuring transparency, trust, and responsiveness, and leading to more effective partnerships.

Enhanced Performance Monitoring

Gain deeper insights into supplier capabilities, performance trends, and areas for improvement, though a holistic view that supports better, intellience-led decision-making.

✔️ Expand your Client/Supplier base and book of contacts;
✔️ Manage quote requests and agree on proposals for work orders and purchase of stock;
✔️ Execute contracted maintenance work more efficiently.