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Vendor Management Software

Businesses need to deal with several vendors that can include raw material providers, transportation & shipping service providers. Finding the right vendors that can provide quality products and services, and maintaining the best relationship with them is extremely important for the business's growth. In that case, having a streamlined vendor management process is required, and several companies these days use vendor management software.

What Is Vendor Management Software?

A vendor management system can help you streamline the vendor acquisition process, communicate and collaborate with the vendors, evaluate their performance, and manage relationships with them. Some key features of vendor management tools include vendor database management, activity and communication log manager, payment integration, a self-service portal, and performance metrics.

How to Select the Best Vendor Management Software?

Finding the vendor management tool that suits your business can be a challenging task. Goodfirms has come up with an intricately curated list of vendor management software with their detailed information and authentic customer reviews, that can help you pick the best vendor management solution.

Goodfirms conducts a thorough review and verification process before including any company in the listings. Some listings may involve fees. [How Goodfirms ensures trust]
Rankings updated: Dec 31, 2025
103 Software

List of The Best Vendor Management System

  • Seerene

    Seerene’s Digital Engineering Platform provides IT decision-makers with the information needed to actively drive their organization towards software excellence. ​The analytics technology extracts and fuses the data traces left by all tools ... read more about Seerene

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    33% in Vendor Management Software

    Features
    • Document Management
    • Expense Management
    • Performance Tracking
    • Security & Control
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Support
    • Chat
    Knowledge Base
    • Help Guides
    • Video Guides
    • Blogs
    • Webinars
    • Infographics

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    • One-Time Payment
    Vendor pricing page
    Visit website

  • Supplier Portal

    SmartDocs Supplier Portal is the leading vendor management software that provides comprehensive solutions to every organization. In today's complex business world, relying completely on vendors brings included risk. Vendor management software is ... read more about Supplier Portal

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    50% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Risk Assessment
    • Security & Control
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Industries
    • Retail
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    • iPhone/iPad
    • Android
    • Windows
    • Mac
    • Linux
    Support
    • Chat
    • 24x7 Support
    Training
    • Webinar
    Knowledge Base
    • Help Guides
    • Video
    • Blog
    • Webinars
    • Infographics
    • Case Studies

    Packages
    Pricing Type
    • Contact Vendor
    Preferred Currency
    • USD ($)
    Free Version
    • Yes
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    • One-Time Payment
    Vendor pricing page
    Visit website

  • SkuNexus

    SkuNexus is an all-in-one system that serves as the beating heart of your back-end operations. Empower vendors with custom access to the platform, native integrations to their systems, and an elegant dashboard. ... read more about SkuNexus

    Entry Level Price
    $299 Per Month
    Free Trial
    N/A
    Pricing Type
    Flat Rate
    25% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Reporting & Analytics
    • Risk Assessment
    • Security & Control
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Industries
    • Retail
    • Warehousing
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    Support
    • Chat
    • 24x7 Support
    Training
    • In-person
    Knowledge Base
    • Help Guides
    • Video Guides
    • Blogs
    • Webinars
    • Infographics

    Packages
    Pricing Type
    • Flat Rate
    Preferred Currency
    • USD ($)
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    Vendor pricing page
    Available Packages
    Standard
    $299 Per Month
    Visit website

  • Enlighta

    Enlighta's solutions enable companies to maximize business value derived from third party relationships and contracts by reducing the risk of value leakage and improving decision support via performance reporting on dashboards and ... read more about Enlighta

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Risk Assessment
    • Security & Control
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Support
    • Chat
    Knowledge Base
    • Help Guides
    • Video Guides
    • Blogs
    • Webinars
    • Infographics

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • Yes
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    • One-Time Payment
    • Free
    Vendor pricing page
    Visit website

  • SupplHi

    SupplHi is the one-stop-platform for Vendor Management based on an industry-specific standard model that allows to match needs and capabilities of Buyers and Vendors of industrial equipment and services, at a global ... read more about SupplHi

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Contract Management
    • Document Management
    • Expense Management
    • Performance Tracking
    • Risk Assessment
    • Security & Control
    • Staff Management

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Knowledge Base
    • Help Guides
    • Video Guides
    • Blogs
    • Webinars
    • Infographics

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    • One-Time Payment
    Vendor pricing page
    Visit website

  • SupplierVision

    Govern your suppliers and manage them with ease. No more relying on spreadsheets, emails and paper documents. Everything managed with secure workflow, alerts and document storage. SupplierVision has a unique ability to ... read more about SupplierVision

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Audit Trail
    • Performance Tracking

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Knowledge Base
    • Help Guides
    • Video Guides
    • Blogs
    • Infographics

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    Vendor pricing page
    Visit website

  • SupplyNote

    SupplyNote provides software solutions to F&B businesses to manage their backend operations, such as Supply Chain, Inventory management, procurements, logistics, production planning etc. This further helps the businesses optimize their resource-utilization and ... read more about SupplyNote

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Audit Trail
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Risk Assessment
    • Vendor Portal

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    • Android
    Knowledge Base
    • Help Guides
    • Video Guides
    • Blogs
    • Webinars
    • Infographics

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    Vendor pricing page
    Visit website

  • SureCloud

    SureCloud is the first company to deliver market-leading Governance Risk and Compliance (GRC) software solutions and award-winning Cyber Security and Risk Advisory services, all underpinned by a single cloud-based platform. Whether you ... read more about SureCloud

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    25% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Risk Assessment
    • Security & Control
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Knowledge Base
    • Help Guides
    • Blogs

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    Vendor pricing page
    Visit website

  • Talao

    With Talao’s solution based on Blockchain technology, build and grow your dedicated pool of freelancing talent, and take adavantage of what is the working industry’s key trend today. All the tools you ... read more about Talao

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Audit Trail
    • Document Management
    • Vendor Portal

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Support
    • Chat
    Knowledge Base
    • Help Guides
    • Video Guides
    • Blogs
    • Webinars
    • Infographics
    • Case Studies

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    • One-Time Payment
    Vendor pricing page
    Visit website

  • Tealbook

    Effortlessly build a comprehensive supplier data foundation. Plug your vendor master data into Tealbook and enjoy clean and enriched data. Tealbook harnesses the power of AI and machine learning to bring you ... read more about Tealbook

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Vendor Portal

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Knowledge Base
    • Help Guides
    • Video Guides

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • Yes
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    • One-Time Payment
    • Free
    Vendor pricing page
    Visit website

  • Vendict

    Your company environment is changing fast. Your Vendor risk is real. Validate any Vendor at business speed. Whether to adapt to remote work changes or to comply on time with privacy regulations ... read more about Vendict

    Entry Level Price
    $90 Per Month
    Free Trial
    N/A
    Pricing Type
    Flat Rate
    100% in Vendor Management Software

    Features
    • Risk Assessment
    • Security & Control
    • Vendor Portal

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Knowledge Base
    • Help Guides
    • Video Guides

    Packages
    Pricing Type
    • Flat Rate
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    • One-Time Payment
    Vendor pricing page
    Available Packages
    Standard
    $90 Per Month
    Visit website

  • VendorXpert

    With VendorXpert, third-party provider details can easily be monitored and tracked in a user-friendly Web-based environment that allows for rapid deployment and management of these crucial relationships. Regulatory concerns have heightened dramatically ... read more about VendorXpert

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Cost Control
    • Performance Tracking
    • Vendor Portal

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Knowledge Base
    • Help Guides
    • Video Guides
    • Webinars

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • Yes
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    • One-Time Payment
    • Free
    Vendor pricing page
    Visit website

  • ViClarity

    ViClarity is an innovative platform that allows you to track and manage all of your audit, risk and compliance in one system. The ViClarity solution is fully configurable meaning you can build ... read more about ViClarity

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    14% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Risk Assessment
    • Security & Control
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    • iPhone/iPad
    • Android
    Support
    • Chat
    Knowledge Base
    • Help Guides
    • Video Guides
    • Blogs
    • Webinars
    • Infographics

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    • One-Time Payment
    Vendor pricing page
    Visit website

  • Workspoke

    Paying vendors and freelancers is a time consuming task, especially as your business grows with each new employee. Workspoke automates on-time payments for your entire team and let’s you focus on business ... read more about Workspoke

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    20% in Vendor Management Software

    Features
    • Expense Management
    • Reporting & Analytics
    • Security & Control
    • Vendor Portal

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Knowledge Base
    • Help Guides
    • Blogs

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • No
    Payment Frequency
    • Quote Based
    Vendor pricing page
    Visit website

  • Growthfile

    ERPs are powered by workflows housed in robust vaults, not exposed to the external world, and apt for intra-company collaboration. In the current age, that could be rather limiting. Growthfile's ERP plugin ... read more about Growthfile

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Audit Trail
    • Cost Control
    • Expense Management
    • Performance Tracking
    • Security & Control
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    • iPhone/iPad
    • Android
    • Mac
    Support
    • Phone
    Knowledge Base
    • Video Guides

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • No
    Payment Frequency
    • Annual Subscription
    Vendor pricing page
    Visit website

  • StandardFusion

    StandardFusion is a cloud-based SaaS GRC application designed to make security and compliance simple and approachable. Designed to allow organizations to quickly and easily manage their GRC program, operational risk, manage their ... read more about StandardFusion

    Entry Level Price
    $750 Per Month
    Free Trial
    14 Days
    Pricing Type
    Flat Rate
    20% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    Support
    • Phone
    Knowledge Base
    • Help Guides
    • Blogs

    Packages
    Pricing Type
    • Flat Rate
    Free Version
    • Yes
    Free Trial
    • 14 Days Trial
    Payment Frequency
    • Monthly Payment
    • Quote Based
    • Free
    Vendor pricing page
    Available Packages
    Standard
    $750 Per Month
    Visit website

  • BQUADRO

    BQUADRO is the solution for the business Collaboration B2B that simplify the most critical processes of the companies. It’s a platform designed for the management of the Supply Chain and it’s based ... read more about BQUADRO

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    50% in Vendor Management Software

    Features
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Reporting & Analytics
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Industries
    • Automotive
    • Construction
    • Consumer-goods
    • Electrical-electronic-manufacturing
    • Food-beverages
    • Machinery
    • Pharmaceuticals
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • On Premises
    • Web-based
    • iPhone/iPad
    • Android
    • Windows
    • Mac
    • Linux
    Support
    • Email
    • Chat
    • Phone
    • 24x7 Support
    Training
    • Webinar
    • In-person
    Knowledge Base
    • Help Guides
    • Video Guides
    • Blogs

    Packages
    Pricing Type
    • Contact Vendor
    Preferred Currency
    • EUR (€)
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    Vendor pricing page Try Software Demo

    Integration
    Integrated With
    • Telegram
    • Zendesk Support
    • UserVoice
    • Google Analytics
    • Google Drive
    • OneDrive
    • Power BI
    • Qlik Data
    • Board
    • Pendo Platform
    • Microsoft 365
    • Azure
    • IFTTT
    • Jira
    • Elastic Enterprise Search
    Visit website

  • Vendor360

    Advanced and flexible third party risk management platform for aggregating your vendor data, automating your assessments and getting control over your vendor risk management process.

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Performance Tracking
    • Operations Management
    • Risk Assessment
    • Security & Control
    • Vendor Portal
    • Workflow Management

    Key Details
    Licensing & Deployment
    • Cloud Hosted
    • Web-based
    • iPhone/iPad
    • Android
    • Windows
    • Mac
    Support
    • Phone
    Knowledge Base
    • Help Guides
    • Video Guides
    • Blogs
    • Webinars
    • Infographics
    • Case Studies
    • Whitepapers
    • On-Site Training

    Packages
    Pricing Type
    • Contact Vendor
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    • Quote Based
    Vendor pricing page
    Visit website

  • PLANERGY

    PLANERGY s a SaaS-based spend management system that gives businesses more control over their financial operations. PLANERGY automates the entire Procure-to-Pay and AP Automation process giving immediate real-time reporting dashboards, approval automation, ... read more about PLANERGY

    Entry Level Price
    Contact vendor
    Free Trial
    14 Days
    Pricing Type
    Contact Vendor
    10% in Vendor Management Software

    Features
    • Expense Management
    • Reporting & Analytics
    • Security & Control
    • Vendor Portal

    Key Details
    Industries
    • Accounting
    • Business-supplies-equipment
    • Capital-markets
    • Construction
    • Education-management
    • Facilities-services
    • Farming
    • Food-beverages
    • Law-enforcement
    Licensing & Deployment
    • Open Source
    • Cloud Hosted
    • Web-based
    • iPhone/iPad
    • Android
    • Windows
    • Mac
    • Linux
    Support
    • Chat
    • Phone
    • 24x7 Support
    Knowledge Base
    • Help Guides
    • Blogs
    • Infographics
    • Case Studies
    • Whitepapers
    • On-Site Training

    Packages
    Pricing Type
    • Contact Vendor
    Preferred Currency
    • USD ($)
    Free Version
    • No
    Free Trial
    • 14 Days Trial
    Payment Frequency
    • Annual Subscription
    • Quote Based
    Vendor pricing page
    Visit website

  • SEMS

    SEMS is a 100% complete source-to-pay software that offers comprehensive spend, sourcing, procurement and vendor management functionality in a unified platform for successful digitalization of procurement. From Source-to-Contract to Procure-to-Pay, from spend ... read more about SEMS

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    50% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Reporting & Analytics
    • Risk Assessment
    • Security & Control
    • Vendor Portal
    • Workflow Management

    Key Details
    Industries
    • Accounting
    • Airlines-aviation
    • Architecture-planning
    • Automotive
    • Aviation-aerospace
    • Banking
    • Building-materials
    • Business-supplies-equipment
    • Education-management
    • Electrical-electronic-manufacturing
    • Financial-services
    • Human-resources
    • Import-export
    • Information-technology-services
    • Logistics-supply-chain
    • Mechanical-or-industrial-engineering
    • Sports
    Licensing & Deployment
    • Open Source
    • Cloud Hosted
    • On Premises
    • Web-based
    • Mac
    Support
    • Email
    • Chat
    • Phone
    • 24x7 Support
    Training
    • Webinar
    • In-person
    • Documentation

    Packages
    Pricing Type
    • Contact Vendor
    Preferred Currency
    • USD ($)
    Free Version
    • No
    Payment Frequency
    • Annual Subscription
    Vendor pricing page Try Software Demo Get Free Trial
    Visit website

  • CloudEagle.ai

    CloudEagle.ai is an AI-powered SaaS management and governance platform that enables IT, Security, and Procurement teams to efficiently manage, govern, and optimize their entire SaaS stack from a single, intuitive platform. With ... read more about CloudEagle.ai

    Entry Level Price
    Contact vendor
    Free Trial
    15 Days
    Pricing Type
    Flat Rate
    20% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Reporting & Analytics
    • Security & Control
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Industries
    • Computer-software
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    Support
    • Email
    • Chat
    • Phone
    • 24x7 Support
    Training
    • In-person
    • Documentation

    Packages
    Pricing Type
    • Flat Rate
    Preferred Currency
    • USD ($)
    Free Version
    • Yes
    Free Trial
    • 15 Days Trial
    Payment Frequency
    • Monthly Payment
    Vendor pricing page Try Software Demo Get Free Trial

    Integration
    Integrated With
    • Okta
    • QuickBooks Commerce
    • Tipalti
    • FreshBooks
    • Expensify
    • Notion
    • Asana
    • Confluence
    • Box
    • HubSpot CMS Hub
    • DocuSign
    • Freshdesk
    Visit website

  • SAP Fieldglass

    SAP Fieldglass solutions are helping businesses manage flexible workforces better and faster with greater insight, control, and savings across assignment management, contingent workforce management, services procurement, and worker profile management. A well-managed, ... read more about SAP Fieldglass

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Audit Trail
    • Expense Management
    • Reporting & Analytics
    • Risk Assessment
    • Security & Control
    • Vendor Portal
    • Workflow Management

    Key Details
    Industries
    • Retail
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    Support
    • Chat
    • Phone
    • 24x7 Support
    Knowledge Base
    • Help Guide
    • Blog

    Packages
    Pricing Type
    • Contact Vendor
    Preferred Currency
    • USD ($)
    Free Version
    • No
    Payment Frequency
    • Quote Based
    Vendor pricing page
    Visit website

  • Mercatere

    Implementing Impiger’s supplier portal (vendor management system) will streamline, simplify and improve the communication between your business and vendors. You can perform a wide range of functions from onboarding suppliers to placing ... read more about Mercatere

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    100% in Vendor Management Software

    Features
    • Document Management
    • Expense Management
    • Performance Tracking
    • Reporting & Analytics
    • Workflow Management

    Key Details
    Industries
    • Logistics-supply-chain
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • On Premises
    • Web-based
    • iPhone/iPad
    • Android
    • Windows
    • Mac
    • Linux
    Support
    • Email
    • Phone
    • 24x7 Support

    Packages
    Pricing Type
    • Contact Vendor
    Preferred Currency
    • USD ($)
    Free Version
    • No
    Payment Frequency
    • Quote Based
    Vendor pricing page
    Visit website

  • Wave PLM

    Wave PLM revolutionizes apparel and fashion production with its cloud-based platform, simplifying complex processes. Our solution offers comprehensive production tracking, enhances collaboration, accelerates time-to-market, and ensures quality at every stage. Ready in ... read more about Wave PLM

    Entry Level Price
    $600 Per Month
    Free Trial
    30 Days
    Pricing Type
    Flat Rate
    20% in Vendor Management Software

    Features
    • Contract Management
    • Cost Control
    • Document Management
    • Reporting & Analytics
    • Workflow Management

    Key Details
    Industries
    • Apparel-fashion
    • Cosmetics
    • Glass-ceramics-concrete
    • Luxury-goods-jewelry
    • Sporting-goods
    • Textiles
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    • iPhone/iPad
    • Android
    • Windows
    • Mac
    • Linux
    Support
    • Email
    • Chat
    • 24x7 Support
    Training
    • Webinar
    • In-person
    • Documentation
    Knowledge Base
    • User manual
    • Blog

    Packages
    Pricing Type
    • Flat Rate
    Preferred Currency
    • USD ($)
    Free Version
    • Yes
    Free Trial
    • 30 Days Trial
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    Vendor pricing page
    Available Packages
    Standard
    $600 Per Month
    Visit website

  • PathQuest

    PathQuest is a subsidiary of Pacific Accounting & Business Services (aka PABS), a result-driven Blended Shore Outsourced Accounting Firm. With PathQuest, you get real-time visibility of cash flow and profitability and key ... read more about PathQuest

    Entry Level Price
    Contact vendor
    Free Trial
    7 Days
    Pricing Type
    Flat Rate
    10% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Reporting & Analytics
    • Risk Assessment
    • Security & Control
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Industries
    • Accounting
    • Automotive
    • Construction
    • Nonprofit-organization-management
    • Restaurants
    • Retail
    Licensing & Deployment
    • Open Source
    • Cloud Hosted
    • Web-based
    • iPhone/iPad
    • Android
    • Windows
    • Mac
    • Linux
    Support
    • Email
    • Phone
    • 24x7 Support
    Training
    • Webinar
    • In-person
    • Documentation
    Knowledge Base
    • Podcast
    • Blog

    Packages
    Pricing Type
    • Flat Rate
    Preferred Currency
    • USD ($)
    Free Version
    • Yes
    Free Trial
    • 7 Days Trial
      (Credit card required)
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    Vendor pricing page Try Software Demo

    Integration
    Integrated With
    • QuickBooks Online
    • Xero
    • MYOB
    • Sage 50 Accounting
    Visit website

  • Modventrix

    MODVENTRIX is a comprehensive inventory management platform designed for growing businesses that need enterprise-level functionality without enterprise complexity. Our cloud-based solution eliminates manual inventory processes through real-time tracking, mobile barcode scanning, and ... read more about Modventrix

    Entry Level Price
    Free version
    Free Trial
    Available
    Pricing Type
    Free
    15% in Vendor Management Software

    Features
    • Reporting & Analytics
    • Vendor Portal

    Key Details
    Industries
    • Business-supplies-equipment
    • Consumer-electronics
    • Retail
    • Warehousing
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    • Windows
    • Mac
    • Linux
    Support
    • Email
    • Chat
    • Phone
    • 24x7 Support
    Training
    • Webinar
    • Documentation

    Packages
    Pricing Type
    • Free
    Vendor pricing page Try Software Demo
    Visit website

  • Procurekey

    ProcureKey is a powerful procurement software that enables businesses to manage sourcing, RFQs, vendor communication, and purchase workflows with ease. Designed to reduce manual tasks, it helps organizations save time, control costs, ... read more about Procurekey

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Contact Vendor
    30% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management
    • Cost Control
    • Document Management
    • Performance Tracking

    Key Details
    Industries
    • Information-technology-services
    Licensing & Deployment
    • Open Source
    • Cloud Hosted
    • Web-based
    Support
    • Email
    • 24x7 Support

    Packages
    Pricing Type
    • Contact Vendor
    Preferred Currency
    • USD ($)
    Free Version
    • Yes
    Payment Frequency
    • Quote Based
    Vendor pricing page
    Visit website

  • Freqens

    Renewal detection, market benchmarks, vendor satisfaction, reliable alternatives: Freqens’ AI-powered technology turns every software expense into a source of savings. Key Features - Subscriptions: Never miss a renegotiation again. Our AI-driven engine ... read more about Freqens

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Flat Rate
    25% in Vendor Management Software

    Features
    • Audit Trail
    • Contract Management
    • Cost Control
    • Document Management
    • Expense Management
    • Performance Tracking
    • Reporting & Analytics
    • Risk Assessment
    • Security & Control
    • Workflow Management
    • AI Features

    Key Details
    Industries
    • Computer-software
    • Information-technology-services
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    Support
    • Email
    • 24x7 Support

    Packages
    Pricing Type
    • Flat Rate
    Preferred Currency
    • EUR (€)
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    Vendor pricing page
    Visit website

  • Splan Visitor Management Software

    Splan's visitor management system extends its capabilities beyond traditional visitors to include a robust vendor and contractor management module. This eliminates the need for separate, cumbersome processes, centralizing everything into one user-friendly ... read more about Splan Visitor Management Software

    Entry Level Price
    Contact vendor
    Free Trial
    N/A
    Pricing Type
    Flat Rate
    10% in Vendor Management Software

    Features
    • Contract Management
    • Document Management
    • Performance Tracking
    • Reporting & Analytics
    • Risk Assessment
    • Security & Control
    • Staff Management
    • Vendor Portal
    • Workflow Management
    • AI Features

    Key Details
    Industries
    • Education-management
    • Electrical-electronic-manufacturing
    • Entertainment
    • Events-services
    • Financial-services
    • Government-administration
    • Higher-education
    • Hospital-health-care
    • Hospitality
    • Information-technology-services
    • International-trade-development
    • Investment-banking-venture
    • Oil-energy
    • Semiconductors
    • Shipbuilding
    • Transportation-trucking-railroad
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    • iPhone/iPad
    • Android
    • Windows
    • Mac
    • Linux
    Support
    • Email
    • Phone
    • 24x7 Support
    Training
    • Webinar
    • Documentation

    Packages
    Pricing Type
    • Flat Rate
    Preferred Currency
    • USD ($)
    Free Version
    • No
    Payment Frequency
    • Monthly Payment
    Vendor pricing page
    Visit website

  • Circle-Hand

    Circle-Hand helps resale, consignment and secondhand shops save time by automating the key steps for consignment and buy outright: - Manage and track payouts for each seller - Integrate with Shopify, Zettle ... read more about Circle-Hand

    Entry Level Price
    Contact vendor
    Free Trial
    7 Days
    Pricing Type
    Flat Rate
    25% in Vendor Management Software

    Features
    • Contract Management
    • Document Management
    • Performance Tracking
    • Reporting & Analytics
    • Vendor Portal
    • Workflow Management
    • AI Features

    Key Details
    Industries
    • Retail
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    Support
    • Email
    • Chat
    • Phone
    • 24x7 Support
    Training
    • Webinar
    • In-person
    • Documentation

    Packages
    Pricing Type
    • Flat Rate
    Preferred Currency
    • USD ($)
    Free Version
    • No
    Free Trial
    • 7 Days Trial
      (Credit card required)
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    Vendor pricing page Try Software Demo

    Integration
    Integrated With
    • Shopify
    • Shopify POS
    • Square
    • Paypal Zettle
    • PayPal
    Visit website

  • IntoAEC

    Vendor Management in IntoAEC brings order and efficiency to supplier relationships. The platform maintains a centralized vendor database with contact details, pricing history, and past performance. Teams can send RFQs, compare offers, ... read more about IntoAEC

    Entry Level Price
    Contact vendor
    Free Trial
    7 Days
    Pricing Type
    Per User
    8% in Vendor Management Software

    Features
    • Contract Management
    • Document Management
    • Reporting & Analytics
    • Staff Management
    • Vendor Portal
    • Workflow Management

    Key Details
    Industries
    • Architecture-planning
    • Civil-engineering
    • Commercial-real-estate
    • Construction
    • Mechanical-or-industrial-engineering
    • Real-estate
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    • Android
    • Windows
    Support
    • Email
    • Chat
    • Phone
    • 24x7 Support

    Packages
    Pricing Type
    • Per User
    Preferred Currency
    • USD ($)
    Free Version
    • Yes
    Free Trial
    • 7 Days Trial
    Payment Frequency
    • Quote Based
    Vendor pricing page
    Visit website

  • DSALTA

    DSALTA is an all-in-one vendor risk, compliance, and trust management platform powered by AI. It automates workflows including drafting policies, collecting evidence, assessing vendors, and resolving issues in real-time. The platform features ... read more about DSALTA

    Entry Level Price
    Contact vendor
    Free Trial
    Available
    Pricing Type
    Flat Rate
    20% in Vendor Management Software

    Features
    • Audit Trail
    • Document Management
    • Risk Assessment
    • Security & Control
    • Vendor Portal
    • Workflow Management

    Key Details
    Industries
    • Computer-software
    • Consumer-electronics
    Licensing & Deployment
    • Proprietary
    • Cloud Hosted
    • Web-based
    Support
    • Email
    • Chat
    • Phone
    • 24x7 Support
    Training
    • Webinar
    • In-person
    • Documentation

    Packages
    Pricing Type
    • Flat Rate
    Preferred Currency
    • USD ($)
    Free Version
    • Yes
    Payment Frequency
    • Monthly Payment
    • Annual Subscription
    Vendor pricing page

    Integration
    Integrated With
    • Google Cloud IoT
    • AWS Cost Explorer
    • Azure DevOps Server
    Visit website

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Buyer’s Guide

Introduction to buyer’s guide for Vendor Management Software

A successful business relies on how efficiently the business owner is managing the enterprise resources. It is a key factor in deciding the business strategies and reducing the operational cost. These resources could belong to the organization itself or drawn from the third-party service provider. If the resources are used through a third party vendor, then it requires due diligence. It is imperative to have a positive relationship with your vendors as this can be beneficial both for your company and your customers.

An efficient vendor management starts right from identifying the best suitable vendors, obtaining pricing information, managing relationships, gauging the quality of work, evaluating performance, and ensuring that the payments are always made on time. 

The only way to achieve these goals while working with third-party vendors is to equip the organization with reliable and secure third-party vendor management services or programs.

In this buyer guide, the readers will identify the important attributes for a vendor-client smooth transition and learn the best approach to mitigate their vendor management issues.

What is Vendor Management?

The vendor management is the process where an organization takes appropriate measures for controlling cost, ensuring excellent service deliverability, reducing potential risks related to vendors, and deriving value from vendors in the long-run.  Vendor management is the system of coordinating the entire vendor relationship. It plays a significant role when it comes to selecting the right vendor for a particular business need.

What are the benefits of Vendor Management?

  • Better contract management: Vendor management involves drafting the contract terms and agreement with all the details like who is authorized to sign, how customer information is protected, how the contract gets terminated, etc.
  • Cost-saving: The vendor manager can negotiate with third-party vendors and saves the cost of various services.
  • Better vendor relationship: Vendor managers ensure that there is no conflict between the organization and vendors. 
  • Improves vendor performance: Vendor managers ensure that vendors deliver high-quality and cost-effective service.
  • Reduce the risk of business disruption: Identifying third-party risks and meeting regulatory compliance.

How has Vendor Management evolved?

In the early ’90s, when companies were outsourcing the jobs and expanding their business worldwide, a Ford subsidiary called Geometric Results, Inc. (GRI) realized the opportunity for a vendor management system.  As a result, GRI developed a manual vendor management system called PeopleNet, and it was only in 1995 it got automated. GRI developed one of the first significant VMS applications in the industry.

Later in 1997, the GRI was bought by MSXI. MSXI launched the Internet-based software b2bBuyer. MSXI created a web app called TechCentral for the Delphi Corp. In 2006,  the Bartech Corp. began operating the Delphi VMS and continues to do so, now using SAP’s Fieldglass VMS tools.  With the rise in the demand for VMS tools, more companies entered the vendor management market.

What are the different types of Vendor Management?

  • Procurement management 
  • Relationship management
  • Vendor risk management
  • Performance management
  • Contract management
  • Compliance management

What are the processes involved in Vendor Management?

Step 1) Define needs or goals: Define your goals and expectations from vendors for the business process.

Step 2) Rules of engagement for vendors: Create ethics/rules of engagement for all vendors. The rules of engagement are a set of rules and obligations for how a given vendor shall engage with a business organization. It mentions what is permissible and what is not, specific actions the supplier shall carry out, and things they will refrain from doing.

Step 3) Bidding for vendors: Search and send bids for vendors. The business sort vendors and send their requirements. All vendors receive identical copies of bid documents and any subsequent changes.

Step 4) Selecting vendors: Select vendors based on your criteria and budget. 

Step 5) Signing contract: Define contract terms and time frame. The signed contract is proof that the vendor has agreed to the terms and policies of the agreement. 

Step 6) Monitoring performance: This step involves monitoring the vendor’s performance and relationship.

Step 7) Terminating or Renewing the contract: End of contract or renewal.

What are the risks associated with poor Vendor Management?

  • Poor vendor selection: A poor vendor management may not give a clear view of vendor service quality, and the organization may face a loss.
  • Bad Contract: The organization may be at risk when they sign a contract with a vendor without looking into contract agreement and compliance. Poor vendor management often leads to a bad contract.
  • Cyber attacks: When a third-party has access to your internal process, there is always a risk of a cyber attack. The hackers may find and target the loophole between organization application and vendors’ access points.
  • Financial loss: The risk of financial loss always remains when a company hires an in-appropriate vendor.
  • Reputation: If the third-party vendor is a fraud, it may even spoil the organization's reputation where it offers its services.
  • Poor client-vendor relationship: A poor vendor management has its own bad effects on the growth of the business. A healthy client-vendor relationship is a fundamental requirement for any business.

What are the key factors that can help reduce vendor risk?

  • Implement vendor risk management maturity model: VRMMM analyzes third-party risk programs against a set of best practices and industry benchmarks. 
  • Thorough Auditing:  The vendors should be regularly monitored and audited to ensure regulatory compliance is maintained throughout the term of service.  Make sure the contracts mention the "right to audit" and also cross-verify what security controls and requirements the third-party vendor has in place.
  • Security clearance and regulatory compliance: Verify if the vendors have the security clearance or regulatory compliance to avail their services.
  • Define monitoring criteria: The company should be clear on their vendor’s monitoring preferences like when to monitor, how reviews and feedback can be conducted and how risk exposures can be detected and mitigated.
  • Segment vendors as per risk potential: Segment vendors by potential risks and try to mitigate those risks first that are above the organization’s appetite. The client can even prepare a checklist to check the vendor’s authenticity like a financial statement, liability insurance, and so on. This strategy is even helpful in the future to identify potential risks.
  • Contingency plan: The client should be ready with the contingency plan if data-breach occurs or a third-party vendor violates the guidelines.
  • Review the contract terms and policies:  Review the contract’s terms and policies like renewable requirements or required service levels.

What are the common challenges in managing vendors manually?

  • Data storage: As the business expands, it becomes difficult to manage vendors agreement documents manually. There is always a risk of misplacing or losing the documents.
  • Lack of visibility: In manual vendor management, each department may be maintaining the vendor’s information on a single spreadsheet. When the same spreadsheet gets downloaded and saved to individual hard drives, it creates multiple copies with miscellaneous updates instead of one master file. This may lead to confusion and result in client-vendor conflicts.
  • Vendor’s payment risk: When the vendor manager is dealing with multiple vendors, it leaves room for error, and the chances are that it may post the wrong payment for the vendor’s service.
  • Painstaking manual reporting: Manual reporting could be a waste of time when it involves collecting countless spreadsheets, emails, and files and then converting it into a pleasing graphic. Besides that, there is no log to track the activities to see what changes were made.
  • No accurate risk analysis: There is no centralized system in manual vendor management, which may not be efficient in identifying risks accurately.

Can technology help in creating and implementing a Vendor Management Program effectively?

Yes, technology can be helpful in creating and implementing a vendor management program effectively.  

Long term commitment between vendor and client allows both to invest time and money required for the smooth transition of services.  By using technology, they ensure that they don’t waste time or money that they are investing in and get the desired outcome. Vendor management programs involve strong quality controls, monitoring systems, audit infrastructure, and performance improvement plans in order to resolve issues and promote industry best practices.

  • Automating information exchange between vendors and companies: One of the important tasks in creating and implementing a vendor management program is to retrieve vendor information from existing databases or from new sources.  A company supported by the right technology can speed up the implementation of a vendor management program.  The company can use automation to collect the vendor’s information from various sources or any information that could prove valuable for establishing VMS systems.
  • Convert legacy contracts into digital records using AI: There are still businesses that adhere to the legacy system for managing vendor’s document or drafting agreement copies. They often face difficulties while converting those spreadsheets into digital records. But advanced technology like AI helps to turn fragmented legacy contracts into modern digital records with ease.
  • Predict early demand visibility: The early analysis of product or service demand can be helpful to draw your expectations from third-party vendors. It can make the boarding of third-party vendors and implementation of their services quite easy. A data scientist can use a large volume of historical data to build logic and predict the product or service demand.
  • Quality control and audit: The effective vendor management strategy involves stringent quality control measures that focus on minimizing business risk. Technology platforms can gather, analyze, and flag data to ensure that vendor work is performed and completed in accordance with agreed-upon regulatory guidelines.
  • Analyze vendor risk factors early on: To implement a vendor management program effectively, it is necessary for the client to identify the security threat associated with the third-party vendor.  Technology can help in doing this by automatically assessing the vendor’s information. The client can use automation tools to send security questionnaires to the vendor or scan data continuously to check leak credentials.

What is Vendor Management Software?

Vendor management software addresses common issues of companies to find, engage, and manage their external workforce or vendors. A vendor can be a contractor, manufacturer, supplier, or any third party who fulfills the need that your company doesn’t create or provide in house.  By centralizing all elements of vendor management in one system, the company can facilitate efficient vendor communication.

How can Vendor Management Software assist companies to work better?

  • Better Security: A supplier management software enables organizations to integrate their vendor management system with a risk management system and compliance management system.
  • Improves client-vendor relationship: With an effective vendor management platform, the organization can have a smooth transition of the vendor services, which eventually helps to improve the vendor-client relationship.
  • Better Service: The vendor management process allows companies to avail of better services from the existing vendors. The organization can pinpoint the issues and then work with the suppliers to eliminate the root cause of the problems being faced.   
  • Reduce costs and better ROI: The organization can save the costs incurred due to administrative labor costs and rectifying errors. The company can act quickly in making adjustments, thereby increasing profitability and saving money.
  • Optimize performance: The supplier management tools allow tracking performance against the contract to ensure that the vendor is meeting organization needs and complying with the requirements. It provides insight into the vendor’s budgeting, expenses, and profits throughout the supply chain.
  • Easy to manage multiple vendors: With a robust supplier management system, it becomes easy for the company to manage multiple vendors, and there won’t be any error in payment processing or monitoring their performance.
  • Data Storage: The biggest issue with vendor management is to deal with a huge number of documents and storing them securely.  With the vendor management tools, it becomes quite easy to handle any size of the document.

What are the essential features to look for in a Vendor Management Software?

The vendor management requirements differ as per the industry; the manufacturing industry may have different vendor requirements than a retailer. The selection of vendor management software largely depends on the type of operations and the user's preferences. General features include;

  • Accounting integration
  • Purchase order management
  • Tracking and visibility
  • Financial management
  • Supply chain management
  • Customer Management
  • Distribution management
  • HR management
  • Project management
  • Asset management
  • Inventory management
  • Automatic backup
  • Reporting & analytics
  • Third-party tools easy integrations
  • Record Audit
  • Email Management
  • Offline mobile access
  • Real-time budget tracking
  • Report and analytics
  • Audit logs
  • Expense management
  • Mobile request, approve and receive
  • Automated reminders

How will technology augment Vendor Management Software in the future?

  • ML and AI: In the future, artificial intelligence and machine learning with their smart algorithm would allow organizations to choose the right vendor and assign the right work model. It will further help to create customized dashboards to view and manage vendor data as required.
  • Mobile apps: The modern mobile app for vendor management software would be focussed on improving the user experience in handling the multiple vendors on-the-go.
  • Predictive Analytics: There is more scope of predictive analytics in the future, which may be used by companies to provide real-time recommendations on rates and labor demand modeling.

What is the average cost of buying a Vendor Management Software system?

The vendor management software covers various sectors from manufacturing, retailer, IT  and corporate, and so on.  The selection of the VMS system is made on the company's requirements and its budget.  The price of these software varies depending on the number of users, features list,  customer support, etc.   The entry-level VMS tools like Dolibarr and Zoho creator charge $9/ month and $15/month. While those organizations focused on slightly higher features can pick software solutions like Precoro that charge $29/month, followed by ProfileGorilla and Windle, that charge about $25/month and $49/month, respectively.  For a large enterprise, where price has no bar, then a tool like a Gatekeeper would be an ideal choice.

But if the organization has the curiosity to explore software capabilities and develop new features, then they should tap on free and open-source vendor management software.

Why refer to Goodfirms’ list of top Vendor Management Software?

Goodfirms has quickly established as the best review and rating site for IT solutions spanning various sectors.  It rates software solutions based on quality, reliability, and ability.  The platform collects all the vital information critical for any individual or business to decide on software selection.  The list of software features and authentic feedback of consumers together gives a broad perspective on software usability.  Besides that, the software seeker can sort service providers based on location, hourly rate, and the number of employees.

Goodfirms has a growing list of software solutions to address the core issues of the business process. Vendor management is an inevitable segment of any well-planned business structure, trying to achieve exponential growth. In order to orient well between all the components of a vendor's operation, a holistic vendor management software is a must. The vendor management solutions may not fall in the one-size-fit-all category, and different businesses may have different needs. Do not fail to check Goodfirms list of best vendor management software that could justify your vendor management requirements all in one place.

Related Categories

Contract Management Software
Procurement Software
Proposal Management Software
Purchasing Software

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