What is the difference between vendor management software and procurement software?

VMS vs procurement software – each has their differences when compared to one another: VMS is focused on managing vendors while procurement software is used for handling purchasing workflows. To have complete clarity, many enterprises employ these two systems in tandem. Procurement platforms can be complemented by vendor management ​‍​‌‍​‍‌​‍​‌‍​‍‌software.

Related Vendor Management FAQs

How much does vendor management software typically cost?

How does vendor management software measure vendor performance?

What KPIs can be tracked using VMS?

How does the system support vendor scorecards?

How does a VMS identify and monitor vendor risks?

Does the software support SLA tracking and reporting?

Is vendor management software suitable for small businesses?

How scalable is a vendor management system for growing companies?