What is a Vendor Management Portal?

Businesses often deal with a number of vendors and suppliers. There are a lot of transactions that the business conducts with such vendors and suppliers. Even if you’re a small business, chances are you provide services to a multitude of vendors.
While some vendors may be inconsequential to your company, others are undoubtedly critical to your company’s operations and ultimate success. Most organizations realize the importance of vendor management, but do not develop a disciplined approach to managing vendors.
This is where Vendor Management Portal comes into picture. An efficient VMP can help you intelligently manage and optimize complex business processes.

What is a Vendor Management Portal?

• Integrated database of all vendors at one place.
• Helps collect data and analyze performance of the vendors.
• Helps identify problems in the vendor management process.
• Automated Payment Processes
• Higher ROI due to decreased cost