How often should vendor data be updated in the system?
Vendor data updates should occur whenever the vendors updated contact details, compliance documents, or contracts are available. Frequent updates go hand in hand with accurate reporting and risk management. Vendor management software facilitates vendor data updates.
Related Vendor Management FAQs
What types of reports can be generated in a VMS?
Does the system support real-time analytics?
Can you track vendor spending using VMS?
Healthcare
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Venture Capitalist
Chief Procurement Officer
Chief Financial Officer