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Here are some reasons why you should strongly consider using Connecteam for its vendor management capabilities: Document managementĬonnecteam’s document management feature allows you to digitize your file cabinet. While this mobile-first solution is not explicitly designed to manage vendors and contingent workers, it offers a wide range of features that can be tailored to meet your specific needs.

Integrations: Your chosen vendor management platform should be able to integrate with various business software solutions, such as payroll software and 3rd party risk intelligence solutions.Ĭonnecteam is an all-in-one solution for managing non-desk employees, even while on the go.

Recruiting and onboarding: You probably need a VMS that allows you to effectively hire and onboard appropriate vendors to align them with your business processes.

Compliance management: Many industries require vendor management software that makes it easy to comply with strict rules and regulations.

Reporting: An ideal VMS should allow users to report on vendor-based processes, making it easy to relay valuable information to management.

With the right VMS portal, you and your vendors can communicate and collaborate before, during and after contract periods. Vendor communication & collaboration: Vendors should be able to securely provide documentation and information to your business.Your VMS should be able to track vendors based on risk and performance. Risk and performance management: Assessing new vendors should be automated and measuring risk levels should be given automated scores.Data management: An ideal VMS allows users to create and oversee both vendor data and to manage documents, such as financial statements, contracts and insurance certificates.There are a few key functionalities to consider when choosing the right vendor management system for your business: What to Look For in a Vendor Management System (VMS)