BAMBOO ROSE
“The earlier they can be considered , the earlier you ’ re collaborating ”
MATT STEVENS CEO , BAMBOO ROSE
“ Secondly , self-education is crucial . When a retailer has more than 50 suppliers , the amount of communication and detail explodes exponentially . SRM must enable suppliers to work independently to understand the retailer ’ s needs and initiatives . Efficiency , variety and quality are the main goals and they are only achievable if the system minimises manual entry and back-and -forth interactions .
“ Efficiency is the third point . SRM should make processes more efficient , reducing the time and cost involved in buy-bid cycles . For example , reducing a cycle from 20 weeks to 12 weeks or even four weeks allows retailers to consider more vendors and offers , enhancing variety and quality .”
It ’ s all about communication , which Matt describes as an essential tool for effective supplier relationship management . Bamboo Rose allows suppliers to monitor their progress and understand expectations . Through the platform , users can review their performance and gain insights into areas for improvement .
Companies can log in and see how they are doing against the requirements day in and day out . So when teams come together to review the good and the bad , both sides are looking at the same set of data , fostering self-management and self-storage .
Bamboo Rose today Bamboo Rose currently has over 200 employees , with 65 % based in North America and a significant presence in India and the UK . The company is also growing teams in Australia , Hong Kong , and Canada . “ We ’ ve done three acquisitions , with another pending , to accelerate our growth and expertise ,” Matt explains .
“ This year , we ’ ll break the US $ 50m revenue mark , growing over 30 % profitably . We have about > 250 customers , including 53 large enterprises , with a 99.7 % retention rate and greater than 130 % net retention .”
The company has a strong base in SRM and recently acquired Supply Pilot , which has been a “ great accelerator ” of the business , according to Matt .
In June , new features aimed at improving how retailers manage supplier engagement and data , addressing challenges such as data transparency , integrity and inefficient collaboration processes were rolled out in an advanced SRM offering which prioritises :
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