Today’s business environment is growing by leaps and bounds, leading to an increased workforce requirement – internal and external. The management of your company will handle the Internal workforce; it becomes a hassle to manage the external workforce. But Vendors are one of the most important stakeholders of your business, their efficient handling results in better performance of your business. Vendor Management System is a platform that streamlines and manages all your third-party vendors efficiently.
Vendor Management System is a web-based application that streamlines the process of managing your procurement bidding process cycles, invoice life cycles from a single platform. Our vendor management system provides transparency and control over the end to end processes of managing the vendors, starting from the selection and enrolment of the vendors to business closure.
The client approached us to address their issue in handling their external workforce. They felt their method of managing the vendors was all over the place, which resulted in a lot of struggle in managing their third-party vendors, the problem of forgetting to pay the invoices and missing out on follow up with the vendors for invoices lead to improper closing of books. Hence the client was looking forward to a solution that resolved their obstacle in :
- Decision Making
At NDZ, we scrutinised the client’s requirement and understood that the customer requires a platform that unifies all the processes of managing their external workforce. And provided a solution that is tailor-made to fit their requirements. A one-stop platform Simplifying and thereby reducing the overhead of managing third-party vendors.
Communication is a crucial part of managing the vendors. Too much or less discussion leads to confusion, chaos, and uncertainty in the management of suppliers. But, NDZ’s VMS provides a unified portal for the vendors and the administration to communicate, which enables a smooth flow of communication.
The platform also acts as a central repository for the management to request for RFI’s and RFQ’s where the vendors upload the necessary documents to qualify for the service requirements. So the problem of traceability is solved as all the documents are available from the platform as and when the needs arise.
Our VMS allows the management to explore new vendors, reviewing, filtering, rating, and finally selecting them based on the service requirement. Our VMS acts as a complete digital repository recording all relevant documents submitted by vendors under a bid, which can be easily retrieved, enabling the management team to compare. Hence the decision-making process of selecting the vendors is completed within a jiff, enabling ownership as well as accountability to this most important decision.
Apart from the features mentioned above, The system also includes
- Define new services and categories
- Provision to search the bid avenues
- Enabling the payment team to ensure payments have been made against a particular invoice
- Rating & manually filtering the vendors
- Selecting the vendors
- Awarding Purchase orders
- Easy integration in the ongoing process.
- Email notifications and reminders to the vendors
- Ensuring compliance with every stage starting from RFQ to Purchase order
Our vendor management system is designed to help the client manage and control every aspect of operating the third party workforce with simplicity and ease, resulting in reduced time and cost along with increased performance and vendor loyalty. Hence NDimensionZ is a perfect partner to help you reach your goal of improved efficiency.
Contact us now at email@example.com for seamless integration of suppliers with your business.