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What Is Vendor Management?

What Is Vendor Management?

By Deskware, November 8, 2019

What Is Vendor Management?

As a service management platform, each of Deskware’s features has been carefully designed to help you organize, cache, and streamline your business’s information. But with over 20 specialized tools at your disposal, understanding what each unique application can do is a serious undertaking.

So if when we say that Deskware’s platform offers a vendor management program you find yourself thinking “wait, huh?”, don’t panic – you aren’t the only one.

But it is time to silence that voice in your head. Read on for a crash course on vendor management and what Deskware’s own vendor management feature can do for you.

In its most basic form, vendor management can be defined as any set of informal and formal processes your business uses to create, document, and advance vendor relationships. Extending all the way from sourcing to contract completion, a vendor management system – or VMS, for short – acts as a way for your business to store and organize all the information that goes into maintaining those relationships.

Still with Us? Great, Let’s Get Specific.

Deskware’s VMS, for example, allows you to create an easy-to-access profile for each partner. These profiles are comprised of the paperwork, contracts, ISP and hosting information, and contacts necessary for your team to get work done properly. Basically, Deskware’s VMS documents your business partnerships for you, making day-to-day operations run as smoothly as possible.

But How Will It Help Me?

Using Deskware’s vendor management feature can prove seriously effective for your business. A few areas in which you can expect to see results include:

Risk Management: The more in control you are of your vendor relationships, the less risk your business takes on. Excellent vendor management can ensure your team avoids risky activities often undertaken due to incorrect information or poor communication.

Contract Control: A VMS keeps the terms of your contracts at the helm of your relationship, allowing you to fully benefit from your agreements.

Compliance: Assesment of your firm’s compliance becomes a breeze with proper storage and organization of your vendor information.

Vendor Relationships: With less information lost in the shuffle, using Deskware’s feature can result in stronger, more communicative relationships overall.

Your Bottom Line: Stop losing money on lost contracts, unknown sources, and missed opportunities for negotiation with a vendor management system.

Vendors, Managed

Deskware’s vendor management feature can help keep your program on the ball, but it’s far from the only application in our suite of management tools to do so. Deskware offers a combination of automated and manual processes that make doing business, better. Improve your customer service, store your information, streamline your tasks and more with Deskware starting today. Visit us online to learn more!

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