how can (SAP SRM) provides you with innovative methods to coordinate your business processes

SAP Supplier Relationship Management (SAP SRM) provides you with innovative methods to coordinate your business processes with your key suppliers and make them more effective. SAP SRM enables you to optimize your procurement strategy, to work more effectively with your supplier pool, and thus to gain long-term benefits from all your supplier relationships. read less

The following are the Core SRM Functionality The SAP SRM functionality provides a number of tools that can give your company greater efficiency throughout the source-to-pay pro¬cess. SAP has identified a number of core functions that can assist in providing those efficiencies. E-Sourcing Application The E-sourcing application uses SAP NetWeaver to help maximize savings with suppliers. The functionality looks at spend analysis and provides sourcing-to-contract management. It also provides the abil¬ity to create forward and reserve auctions to gain favorable pricing from suppliers. Spend Analytics The Spend Analytics application is a business user focused application that brings together essential procurement measures across your orga¬nization. It allows your purchasing staff to create key performance in-dicators (KPIs), conduct analyses, and create procurement initiatives. SAP Contract Lifecycle Management (SAP CLM) SAP CLM allows your company to manage all aspect of the contract process. SAP CLM can operate with any type of contract and help with standardized language and reporting to reduce any legal, finan¬cial, or regulatory risk. The SAP CLM function is powered by SAP NetWeaver. SAP Cost and Quotation Management (SAP CQM) Providing customers with an accurate quote can mean the difference between a sale or not. The SAP CQM functionality provides your company with a more accurate quotation function to win business that will provide a profit. The SAP CQM functionality is powered by SAP NetWeaver. read less

Hi Priyanka, basically SRM is a different product in sap portfolio, which can work alongwith ERP or may be as an standalone, there are some wow factors as- Live Bidding Engine- Bidding can be carried out in very transparent manner Smooth Procurement process- Employee can raise a shopping cart mentioning his or her requirement, which greatly reduced workload of purchasing dept. PPS- for Public Sector Company there are many in-built functionality are there which brings value to business. read less