Vendor Management

We offer the multi-stage process of initiating and developing relationships with providers of goods and services that a purchasing company (“the buyer”) needs for day-to-day operations and the fulfillment of its mission. From the buyer’s perspective, primary stages of vendor relationship management include

  • Vendor selection

    • Using an up-to-date risk profile and qualifying and segmenting based on category, location, and business unit
  • Risk assessment

    • Performing risk due diligence based on the nature of your vendor engagement
  • Contract negotiation

    • Establishing terms and risk KPIs
  • Onboarding

    • With understanding of risk assessment and audit status
  • Managing performance and monitoring / mitigating risk

    • Utilizing a matrix-based, single view of vendor and a data-driven incident model
vendor management

Digitize and automate vendor management

  • Equip vendors to manage company information themselves with simple tools that keep your vendor master data current
  • Enable a vendor management framework that drives spend to preferred vendors
  • Instill confidence that selected vendors can deliver high-quality goods and services on a sustained basis
  • Reduce cycle time by automating the supplier onboarding and qualification process and integrating it with other procurement processes.
  • Syndicate real-time information for better vendor risk management through fast, informed decisions that prevent supply disruption
vendor management