Vendor Management System
PRM360's vendor management software module helps to keep track of all the vendor and supplier data in one place to evaluate their performance for future collaborations. Our Vendor management services include vendor profiling, strategic vendor sourcing, and supplier risk management.
Vendor Profiling
Managing a network of vendors or outsourced service providers for your business can be challenging. Too often, vendors offer delayed services, over-budget products, and significantly less quality than specified. Fortunately, with PRM360 vendor management software, you can effectively manage vendor deliverables, track the performance, compare vendors and monitor compliance.
OOur robust vendor management tools help you analyze the performance of vendors and let you develop a detailed improvement plan to address any process gaps within the program. We help companies optimize the performance of outsourced vendors and execute the best practices to reduce total costs while proactively minimizing the risk associated with operational disruptions.
The best part is PRM360's vendor management software module can easily integrate with ERP systems so that all the contracts, quotes, invoices, and purchase orders can be pulled up directly from the vendor master system, allowing you to make faster and informed decisions that drive continuous improvement.
The advanced features of PRM360's vendor management software help you make the most of our vendor management services and build a better relationship with key stakeholders.
Strategic Vendor Sourcing
Sourcing vendors is the most critical phase that can make or break your business. With thousands of vendors out there in the market, sourcing the right ones makes all the difference. However, choosing the best out of hundreds of categories and thousands of lines can be difficult, and this is where our vendor management strategic sourcing suite can help.
Our easy-to-use sourcing tools can help you integrate and collaborate with thousands of connections to find the best bonafide vendors. We help you choose the right bonafide vendor across all the industries who comply with the eligibility criteria specified by the GPRA and who do not commit any breach and adheres to the obligations. With bonafide vendors, indeed, you will not face any hassles with the purchasing activity, and you don't receive any defective goods and experience any delays in deliveries. With PRM360's vendor management software, you can select the right vendor and choose a partner to help run your business effectively.
Also, you can create online sourcing events, send contracts, and run multiple auctions simultaneously based on your business needs. Our sophisticated vendor sourcing strategies can help you manage the entire sourcing and contracting processes for all spend types and industries while delivering the best sourcing results ever.
Supplier Risk Management
There is a scope of risk at every phase of the procure-to-pay cycle, sourcing suppliers, negotiating contracts, managing catalogs, or paying invoices. From supplier onboarding to performance management, PRM360's vendor management software alleviates the complexity and reduces risk at every step of the way.
Our vendor management software has a complete suite of supplier risk management tools that helps you to manage evolving market needs while giving you accurate and actionable insights into supplier performance and risk management. With PRM360's vendor management software, buyers can make smarter decisions to avoid potential bottlenecks and disruptions in the supply chain processes. Our supplier management portal gives you a 360-degree view of the supplier database to help you make timely and accurate business decisions while improving collaborations with suppliers in real-time.