Does the system support real-time analytics?

Real-time analytics is a feature that most contemporary systems offer which can be used for tracking performance, spending patterns, and vendor risks. The immediate insights gained allow decision-making to be done at a faster pace. Vendor management software is a tool that makes real-time analytics more efficient.

Related Vendor Management FAQs

How do you ensure compliance during vendor evaluation?

What is the role of procurement in vendor management?

How do you maintain strong vendor relationships?

How do you evaluate a vendor’s sustainability practices?

What is a vendor risk score?

How do you create an approved vendor list (AVL)?

What information should be stored in a vendor database?