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Vendor Management Guide
What information should be stored in a vendor database?
The vendor database is supposed to hold all the necessary information of a vendor such as contact information, contracts, their respective performances, compliance documents, and payment histories. Properly maintaining this data leads to good decision-making. With the aid of vendor management software, all this information can be put into one place which is the vendor database making it simpler to retrieve them.
Related Procurement FAQs
What features should companies look for when choosing vendor management software?
What types of reports can be generated in a VMS?
Does the system support real-time analytics?
Can you track vendor spending using VMS?
