Unpredictable costs and suppliers. You need to get control of your vendors’ performance, but you have no time to do it. You also don't even know what KPIs would be useful.
In addition to the time needed for vendor management, you face high costs if your employees have to travel for vendor meetings and you waste valuable resources on situations where employees spend money for things they shouldn't be spending money on.
A vendor management system will help you do vendor management right by supporting all the procurement related activities such as approving payments, negotiating contracts, understanding risks and tracking service delivery.
Vendor management software allows you to see all your vendors in one place so you can manage them efficiently using a single dashboard. You'll have full visibility of the supplier lifecycle and will have the correct information at your fingertips when making decisions.
So, don't waste any more time with spreadsheets or a ragtag group of tools for managing contingent workers. It's time for something better.
A cloud-based system for vendor management solution supports the entire procurement cycle, from sourcing through invoicing, payment, service and reporting -- all from one source.