Vendor Management System
VMS - Vendor Management Solution by Oglacs
A Vendor Management Solution is a cloud based web application offered as SaaS, it is a Multi-stage process of initiating and developing relationships with providers of goods and services, empowers an organization to take appropriate measures for controlling cost, reducing potential risks related to vendors, ensuring excellent service deliverability and deriving value from vendors in the long-run. It provides tools in hand to research about the best suitable vendors, sourcing and obtaining pricing information, gauging the quality of work, managing relationships in case of multiple vendors, evaluating performance by setting organizational standards, and ensuring that the payments are always made on time.
VMS solution by Oglacs will help the organization benefit from a centralized view of the current status of all contracts and other useful information which will enable your organization to achieve better decision-making capabilities and save valuable time and cost.
Integrated Procurement with your VMS Solution enables you to make smarter decision with procurement.
Key Benefits of integrated procurement system.
Loaded with tools and features for the buyers to establish and manage a successful relationship with the vendors.
Better outcome in terms of turnaround time and cost of sourcing goods and services.
Increases customer satisfaction & relationships when you deliver consistent results
Vendor management systems will help you to add consistency and efficiency into the entire procurement process.
You can introduce automation to tasks like vendor management, and then analyze vendor performance with zero manual effort
Vendor categorization based on rules and conditions as per the business nature and purchase process.
Optimize productivity within procurement management
Dedicated vendor Portal
Its a self service platform which enables the business to manage, Collaborate & automate the procurement process.
Key Benefits of dedicated Vendor Portal
- Automated vendor assessment and easy onboarding.
- Vendor Qualification and categorization based on set criteria’s.
- Store and manage your contract and other Documents for easy accessibility.
- Define workflows and approval process.
- Gives the Vendor flexibility to update their information.
- Add and update catalogues of their products and services.
- Submit and track the status of Proposal against the Request for quotes from the procurement team.
- View Purchase orders, create invoices & follow payments
Manage and monitor updated information of a vendor’s performance throughout the contract.
This process of tracking and managing supplier performance helps vendors manage and mitigate the inherent supply chain risks.
It helps you manage supplier performance qualitatively.
It allows users to rate suppliers using key performance metrics like policy compliance, delivery quality, efficiency, and more.
It lets businesses track, monitor, and identify underperforming suppliers and initiate offboarding, thus helping mitigate supplier risk even before it escalates as a risk.