Vendor Tracking is a web-enabled application to manage and track performance of vendors with features including order distribution, invoices tracking, consolidated billing and significant enhancements in reporting capability that outperforms manual systems and processes.
The software being web-based, allows stakeholders – end users, purchase executives, finance executives, vendors, office staff, and suppliers – access the system from the internet. Typical benefits included:
Vendor management System helps to build a relationship with suppliers and service providers that will strengthen both businesses. Vendor management is not negotiating the lowest price possible.
Successful Vendor management ensures agreements that will mutually benefit both companies.