Vendor Management


Vendor Management is a strategic process that is dedicated to the sourcing and management of supplier relationships so that:

  • VALUE CREATION IS MAXIMIZED
  • RISK TO ENTERPRISE IS MINIMIZED

Suppliers are a key component to many businesses, however businesses are faced with many challenges in regards to vendor management.

  • Limited single view of a supplier.
  • Procurement and Operations Departments are often disconnected.
  • Lack of control on contracts and key contract conditions.
  • Lack of control and visibility into supplier compliance and documents.
  • Limited supplier audits and feedback.
  • The supplier has the buying power and not the client.

With the right tool in place these challenges can be resolved. M-Files an agile information management platform is the tool. With M-Files businesses can manage the following processes related to a supplier:

  • On-boarding
  • Contract Management
  • Day to day CAPEX and purchase orders
  • Compliance
  • Evaluations and audit management