Vendor Management

Vendor management is a systematic approach designed to oversee and enhance the impact of suppliers on a buyer's business operations. This comprehensive program involves the strategic management of various aspects, including overseeing vendor deliverables, fostering collaborative efforts for process innovation, ensuring compliance, and managing the timely payment of invoices.

Effectively implementing vendor management practices empowers businesses to exercise control over costs, elevate the quality of service experiences, and mitigate operational risks throughout the vendor life cycle. Moreover, vendor management contributes to extracting long-term value from vendor relationships.

Learn more about Ivalua's Supplier Management Solutions.