Procurement software like FactWise can provide many benefits for supplier performance management, including improved efficiency, cost savings, and better supplier relationships. Here are a few specific benefits that can be gained by using procurement software for supplier performance management: 

• Improved Visibility: Procurement software can provide real-time visibility into supplier performance, including delivery times, quality, and pricing. This allows businesses to quickly identify any issues and take action to improve supplier performance. For example, Proactis, a provider of e-procurement and spend management solutions, has helped companies like Nestle and Sainsbury's to improve supplier performance by providing real-time visibility into supplier performance data.  
• Automated Supplier Management: Procurement software can automate many of the manual tasks associated with supplier management, such as creating and tracking purchase orders, monitoring delivery times, and processing invoices. This can help businesses to save time and reduce costs. For example, Oracle Procurement Cloud, a provider of procurement software, has helped companies like DuPont and Royal Dutch Shell to automate their supplier management processes, resulting in cost savings and improved efficiency. 
• Better Supplier Relationships: By providing real-time visibility into supplier performance, procurement software can help businesses to identify and address issues before they become major problems. This can help to improve supplier relationships and reduce the risk of disruptions to the supply chain. For example, Zycus, a provider of procurement software, has helped companies like Bosch and Honeywell to improve supplier relationships by providing real-time visibility into supplier performance data. 
• Increased Collaboration: Procurement software can enable collaboration between different departments within a business, such as procurement, finance, and supply chain, by providing a centralized platform for supplier management. This can help to improve communication and coordination between departments, resulting in better supplier management. For example, SAP Ariba, a leading procurement software provider, has helped companies like Unilever and GE to increase collaboration between departments and improve supplier management. 
• Increased Compliance: Procurement software can help businesses to ensure compliance with regulations, such as those related to fair labor practices, environmental standards, and anti-corruption laws. By providing real-time visibility into supplier performance data, procurement software can help businesses to identify and address compliance issues before they become major problems. For example, Coupa Software, a provider of procurement and expense management software, has helped companies like Monsanto and HP to improve compliance by providing real-time visibility into supplier performance data. 

By providing real-time visibility into supplier performance data, procurement software can help businesses to identify and address issues before they become major problems, resulting in improved supplier performance and reduced costs. 

FactWise Source-to-Pay is an end-to-end procurement software that provides robust, holistic, real-time supplier analytics (price, quality, on-time delivery and others) to track supplier performance, automates supplier management via automated PO creation, invoice processing, and delivery/goods tracking, offers smart dashboards and notifications to simplify collaboration across internal and external teams and improve efficiency by up to 20%, and increases payment compliance by up to 93%.