Integrated Vendor Management Process With Axonator

Axonator offers a highly effective vendor management process through its various apps and software that help in controlling procurement costs, risk management, maintaining consistent quality of goods and services procured and increase value in the entire vendor management process. Important elements in the vendor management process include a structured process for sourcing and selecting vendors, performance evaluation, managing vendor relationships, enhancing performance and service delivery of the vendors.

Benefits of Integrated Vendor Management

The multi-pronged benefits of establishing a vendor management process help companies to effectively conduct quality procurement from genuine vendors who deliver high quality goods and services, ultimately having a positive impact on productivity and profitability.

Improved Vendor Selection Process

A highly effective vendor management process begins from selecting the appropriate vendors through a simple and structured process. Axonator helps you in creating a vendor self-service portal through which you can source competent vendors.

Improved Contract Management

Much needed for large enterprises managing a large number of vendors. Axonator vendor management software helps you in implementing an improved contract management process for vendors that gives you a centralized view of all contracts saving valuable time and money.

Improved Performance Management

Putting in place a systematic and effective system to measure the performance of vendors is an essential component of the vendor management process. Axonator helps you in getting a consolidated view of all critical parameters concerning vendor performance for better evaluation of vendors.

Improved Vendor Relationships

Maintaining harmonious vendor relationships is beneficial for companies as it leads to enhanced performance of vendors and builds up transparency and trust in the entire process.

Improved Risk Management

Implementing an effective vendor management process helps companies to better manage vendor related risks by selecting genuine and competent vendors and minimize impropriety and compliance violations.

Better Value Creation

The ultimate goal of any vendor management system is to create better value for both buyers and vendors. This helps companies to achieve long-term savings and increase their profits. Axonator helps companies to achieve all these goals.

Centralized Vendor Information Repository

Axonator helps companies to maintain an updated and a well categorized vendor information repository which helps you get all info related to vendors easily and saves your time and efforts. A centralized vendor information repository is also helpful in cross-vendor comparison, vendor evaluation, contract management, saving procurement costs and much more. Axonator helps you in implementing this critical feature in the vendor management process.

Streamlined Vendor Selection Process

Axonator helps you create a vendor self-service portal through which they can upload and register all the required info based on which you can evaluate and determine the selection of competent and reliable vendors. A vendor self-service process is greatly beneficial for vendors as well, opens up opportunities for a large pool of vendors and streamlines invoicing, billing and compliant resolutions.

Easily Approve/Reject Vendor Info

You can easily approve or reject information uploaded by vendors in the self-service portal. Vendors are notified if they need to submit additional or revised information and they can view the related remarks on the registration portal. Also, only the fields for which information needs to be submitted again are visible in case the vendor has to give revised info in the registration form.

Due Diligence In Vendor Selection

You need to conduct a detailed vendor assessment and follow all the necessary due diligence procedures before finalizing any vendor. Axonator software helps you to select the best and most competent vendors that not only are cost-effective, but also possess the necessary technical competence, financial stability and market recognition for ensuring quality services.

Enhanced Risk Mitigation and Monitoring

Managing vendor related risks, their identification and mitigation form an important element of a vendor management process. Axonator software helps companies to collect the necessary data and collate it for implementing a robust risk management procedure through better monitoring and evaluation for improved business outcomes

Systematic Vendor Management Process With Axonator

Implement a systematic and structured vendor management process with Axonator software. With a centralized vendor information repository, systematic vendor registration and selection process, robust vendor performance management and monitoring through our apps, you ensure a highly effective vendor management process.

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