Why Do You Need Vendor Management Software?
Using outside vendors can be a major pain. Keeping track of their contact information, invoices, work history, and timetables, as well as ensuring that the actual work is completed, can entail a lot of paperwork, spreadsheets, and stress. Vendor management software is a web-based solution that helps businesses control expenses, improve service, and reduce risk so they can get more value from their vendors throughout the business life cycle.
Vendors can be fully and seamlessly integrated into your maintenance system with TeroTAM’s Vendor Management Software. You can get the same data from a Vendor as you would from a member of your own maintenance staff, making managing outside Vendors as simple as managing your own.
Centralized Vendor Management
When working with contractors and third-party providers, you need to be able to integrate them into your existing internal operations. With TeroTAM’s Vendor Management Software, manage each and every vendor related activity from a single centralized dashboard to keep track of every vendor information and analytics for streamlined operational decisions
Get all the necessary information about your vendors at single place with click-easy way as and when needed to make well informed vendor decisions
Track your Vendor’s Past and Present work performances, invoices, quotations to analyze their future suitability with the organization for seamless operations.
Keep a strict eye on inventory by Third-party with Vendor Management software to avoid over-stocking as well as out-of-stock position and maintain optimum inventory level.
Streamline Effective Vendor Communication
Simplify the communication between you, your vendors, and your suppliers to streamline the day-to-day updates with automated updates and alerts regarding your vendor related information. Track and Rate their performance and send them feedback with an in-built vendor rating system.
The comprehensive dashboard lists all ongoing contracts and keeps you up to date on their progress. Contracts that are about to expire will receive automated reminders, allowing you to renew them on time and continue working without interruption.
Define precise performance indicators and conduct periodic vendor evaluations. You can rank them based on service quality, delivery time, complaint history, quality management systems, and a variety of other characteristics.
Vendor ratings and work reviews are included in the built-in rating system, which helps you award contracts to vendors appropriately. This way, depending on their track record, you’ll always know which vendor to hire for a job.
Easily Enroll and Engage Vendors
Invite and onboard new vendors and suppliers to expand your catalog. Manage your existing vendors and suppliers and invite new ones to be a part of your ecosystem. Centrally Manage digital agreements and contracts and view all your vendor and supplier contracts and pricing. Expedite your Vendor On-boarding with a cloud-based digital system.
Retrieve and validate supplier information such as business reports, financial information, and credit risk information. Confirm goods receipt notifications (GRNs), goods return ship notices, and other documents in real time.
Gather important vendor information in order to screen them based on their reputation, historical performance, and other factors. Register suppliers fast and easily, access vendor information promptly, and use multilingual catalogs.
With a separate vendor dashboard, merchants can simply update their information and receive alerts on order and payment details. Let them Integrate their system with our vendor management platform to allow them to keep you informed.
Manage your Vendors in a Palm-easy way with Smartphone
Manage all your Vendor related information on the go with Vendor Management Software on your Smartphones
Access all Vendor Past Performance Records anytime anywhere to make a cognitive decision.
With a Mobile-Friendly User Interface, you can keep track of any vendor’s work progress on your smartphone.
Get Alerts and Reminders for scheduled vendor expiry and renewal dates to streamline your vendor management.
Create and assign tickets for vendor related issues on your mobile device. Keep track of how many actions have been taken on it, as well as what the next action will be and when it will be taken.
Allow Vendors Create and share Quotations and Invoice with Vendor Dedicated dashboard through their Smartphone
Get Alerts and Notifications regarding, Goods receipt, Goods return shipments, and other important delivery updates on your smartphones.
Features that help you build Effective Vendor Management System
Industries We Serve
Oil & Gas
Food & Beverage
Do you have questions?
The Most common Brain Teaser for Vendor Management Software
What is Vendor Management Software?
Vendor Management Software is a cloud-based software platform that helps numerous worldwide organizations identify, engage, and manage their external workforce, including contract or contingent labor and service providers.
Why would a company need a Vendor Management Software?
Vendor management software can help a company enhance its operations in a variety of ways. It saves time, enhances organizational efficiency, raises visibility, detects overspending, and aids budgeting.
What are the Key Benefits of Vendor Management Software?
The 5 Key Benefits of a Vendor Management Software are:
Achieve Measurable Results with Advanced Reporting and Analytics
Improve Efficiencies and Shorten Process Life Cycles
Lower Operational Costs.
Maintaining Corporate Compliance
Make your vendor onboarding process more efficient.
Why Do Businesses Use Vendor Management Software?
A Vendor Management Software can assist many businesses better manage their outsourced workforce. It’s a full-featured platform that lets you store vendor contact information, maintain contracts, monitor spending, pay suppliers directly, automate vendor onboarding, and much more.
How much does Vendor Management Software Costs?
It is entirely dependent on the features you require to make it tailored for you. Contact us at firstname.lastname@example.org for additional information about pricing.
(GM Facilities & Renovations Food & Beverages)
Tata Starbucks Private Limited
(GM Services Hospitality)
Equinox Solutions Limited
Anand Color World
(Head of Management)
IT & Software Technology