Here, you will learn which suppliers to invite to Canopy, and how to manage suppliers that are global or part of a group.
Why are suppliers added to Canopy?
The purpose of Canopy is to allow businesses to control which suppliers a business can trade with by passing through a consistent assessment process. Therefore, all suppliers should be invited to Canopy.
What if a supplier is global, or part of a group?
Global suppliers may have a legal entity registered in each country/region of their operation. Some suppliers operate as a group, with multiple legally registered subsidiaries.
On Canopy, an individual record is equal to a single legal entity of the supplier. Therefore, if a supplier has multiple legal entities, each legal entity will need its own record, and should be invited individually.
What if a supplier is low spend and non-strategic?
Canopy records adapt based on business rules, therefore Canopy is sufficiently flexible to handle a wide range of suppliers. This includes high-spend strategic suppliers where due-diligence is required, to low spend or direct debit suppliers where minimal information is required. Supplier records may be managed by either the supplier or by an internal user, based on the business rules implemented. For more information see our user guide: What are Profile Admins and where to find them.
When should suppliers be added to Canopy?
In best practice, Canopy provides the conduit for information into ERP, using the Canopy compliance status to inform purchase orders and invoice payments. Therefore, new suppliers should be invited to Canopy before trading commences.
Existing, active suppliers should be added to Canopy as soon as possible after the launch of Canopy. This gives visibility to your business about the suppliers your business is trading with.
Existing suppliers should be added to Canopy as 'Record Created' suppliers, and their existing ERP ID imported when creating their record. For more information see our user guide: How can I Record Create a supplier profile?