Gain Control Again…
Vendor management is the process that empowers an organization to take appropriate measures for controlling cost, reducing potential risks related to vendors, ensuring excellent service deliverability and deriving value from vendors in the long-run.This includes researching about the best suitable vendors, sourcing and obtaining pricing information, gauging the quality of work, managing relationships in case of multiple vendors, evaluating performance by setting organizational standards, and ensuring that the payments are always made on time.
Across many industries, Vendor Management has been a challenge for years for so many companies.
How Does this help your company?
-Better Insight from top down
-Better Contract Management
-Better Performance Management
-Better Vendor Relationship
-Vendor Compliance Risk Management
-Vendor Reputation Risk Management
-Vendor Payment Processes
-Better output to Clients with Vendor Selection based on an intensive Grading algorithm
-Better communication with Vendors
-Compliance, Compliance, and more Compliance!