Vendor Management Software Reviews

A vendor management system (VMS) is an enterprise software platform that enables companies to control the process of procuring and managing a flexible workforce. VMSes are usually Internet-enabled and can be run on premises, in the cloud, or hybrid. They include features that companies use to search for, identify, on-board, track, and manage flexible workers. These are comprised of a few broader categories of workers: contingent or temporary workers, who generally perform jobs in limited time frames, such as filling in for a full-time employee who is out on leave; statement-of-work (SOW) workers, who are employed on a project for a defined time and scope, such as a programmer on an IT development project; and independent contractors or freelancers who work on a contractual basis that could be short or long-term.

Features:-

• Web-based, centralized repository
• Formalized supplier vetting and performance management processes
• Automated communications and supplier self-service on-boarding
• Auto-alerting for expirations or renewals to supplier documentation
• 2nd tier diversity spend reporting
• ERP integration
• A clear and simple-to-navigate user interface

Benefits:-

• Gain a detailed picture of your risk exposure from vendor relationships
• Organize your vendors for easy review and access
• Create a consistent standardized vendor management process to increases efficiencies
• Centralize Reporting for greater decision making and resource management
• Save Time, Effort and Cost by significantly reducing resources and expenses required to perform risk analyses and maintain vendor oversight
• Deliver complete information to senior management for strategic decision making