Vendor Management Software Advisory
 

Vendor Management Software Advisory

Find your Ideal Third Party Management Software Solution through Source One

Vendor Management Software Sourcing

Source One has the industry experience to help you design, source, and implement the right solutions to automate and support your third party management processes.

Vendor Management Software (also known as Third Party Management Software or Supplier Management Software) is a key tool in managing diverse supplier relationships and related risk. The best solutions align with your organization’s supplier management strategy and help automate the processes through which you manage your vendors and third party service providers. They not only grant the desired supply chain visibility, but enhance accountability and substantially reduce your administrative burdens.

Using vendor management software, you organization can automate or improve the efficiency of a number of critical supplier management functions:

  • Performance Management – streamline data collection, tracking, and reporting and build performance plans
  • Risk Management – customize your compliance needs and easily assess suppliers’ status
  • Contract Management – automate your inventory of contracts, milestones, and actions
  • Program Management – use dashboards to synchronize activities and workflows across teams and projects
  • Market Intelligence – develop the ETL processes to evolve your portfolio of data sources into actionable information

With the multitude of vendor management software solutions and service providers in the market, identifying the best resources, software platforms, and contract terms can be a challenge, especially to Strategic Sourcing and Procurement departments, IT departments, or even executives such as COOs unfamiliar with this complex category. As a leading procurement services provider with a groundbreaking Supplier Relationship Management practice, Source One is familiar with different SRM software packages and how they must support your businesses SRM processes. Source One offers its expertise in identifying the best solution and resources to support specific supplier operations and mitigate your operational risk.

Working as part of your team, Source One can:

  • Help advise on and establish business requirements for software to best support your existing SRM program.
  • Identify a range of solutions for your business and Supplier management program
  • Participate in or lead the sourcing process
  • Negotiate cost effective contract terms
  • Establish best-in-class industry practices related to software implementation
  • Develop processes for ongoing vendor management supported by the selected software solution
  • Monitor and assess operations; identify and implement improvements where necessary

Serving as your single point of contact, we can streamline the process of selecting appropriate vendor management software and ensure optimal implementation to achieve the best ROI.

Contact Source One’s third party management software experts today to find out how you can balance automation with best in class SRM activities..

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