Custom Vendor Management Software

You can define what information you need from your vendors to work with them productively ever after and include relevant steps/fill-in fields/document requirements in the registration process.

By setting a vendor assessment framework, you can have a VMS to automatically score registered vendors against needed criteria. Such a pre-onboarding step helps create a low-risk vendor portfolio.

In a VMS, vendors are offered to manage their business information independently. This helps maintain vendor profile information up-to-date and doesn’t require direct control from your team.

You can plan and implement the best-suited segmentation model for your supplier base, for example you can give the highest strategic priority to suppliers of high-volume or high-value products.

A document that describes required products/services. You can create as many requisition templates as needed for different department and procurement purposes.

A VMS routes a requisition through the approval process and sends automated notifications to responsible employees according to the rules you have set in the system. Approval mechanisms can be multi-level and span different departments.

Suppliers are notified when they are invited to participate in a bidding process. They can further submit their offering for price competition.

Upon the expiry of the bid submission period, you evaluate the bids and decide for a vendor of choice. No need for manual tracking of emails from vendors and no risk to miss a price quote.

If you are not interested in price bidding, you can set to have purchase orders created automatically from approved requisitions and sent to a vendor of choice. Thus, you avoid one manual step and prevent procurement delays.

An invoice is created automatically from an approved purchase order or for a part of an order. Taxes are applied based on origin- and destination-based tax rules. The invoice is immediately available for you to pay.

Via a VMS, you gain full visibility into all your procurement orders. You can track order progress, contact vendors for explanation of delivery delays, and access shipment documents.

An in-built tool to analyze vendor performance data and uncover opportunities for cost savings and risk mitigation.

• To deliver invoices directly to the responsible team, thus eliminating protractions usually caused by manual transfers.
• To pay contractors.

• To rely on manufacturing capacity plans for raw material procurement, avoiding understocks and overstocks.
• To provide visibility into procurement order statuses for the staff without access to a VMS (e.g., a procurement planning team).

• To provide information on current talent gaps and vacant positions needed for a limited period of time (e.g., for a project).

• To collect office supply requests from the staff and organize them into requisition lists.

to create, e-sign, and exchange documents with vendors digitally.

to automatically score vendors based on user-defined vendor performance assessment criteria.

to eliminate manual efforts across all kinds of vendor-associated approvals, vendor payments initiation and control, escalation of challenging situations and delays, and other rule-based vendor management tasks.

that cover documentation requirements, work instructions, access to corporate resources, and introduction to the team for various team roles, different company’s subsidiaries, remote and in-office positions to streamline administrative processes and set positive work experience.