Last Guide to Vendor Management System You’ll Ever Need

A Complete Guide to the Vendor Management System. Part 1

This article is for you if you want to understand the concept first and then be willing to invest and master your vendor and vendor initiatives.

What is a Vendor Management System?

Key Features

  • Self-service portal
  • Paperless onboarding
  • Vendor screening
  • Supplier performance management
  • The right actions
  • Cost management
  • API integration

Types of VMS

  • VMS for staffing needs
  • VMS for direct purchases
  • VMS for indirect procurement

Useful integrations for different vendor management systems

  • Deliver invoices directly to the responsible team, thus eliminating delays usually caused by manual transfers.
  • Pay contractors.
  • Rely on capacity plans to purchase raw materials, avoiding shortages and surpluses.
  • Ensure the visibility of purchase order statuses for staff without access to the VMS (for example, a procurement planning team).
  • Collect applications for stationery from staff and organize them into application lists.
  • Provide information on current talent gaps and vacancies required for a limited period.

Benefits of Implementing VMS Tools

  • Increased visibility
  • Process automatization
  • Build for the future
  • Greater cost control



CEO & Founder at Jelvix | Digital Leader| Innovation Expert |

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