Vendor Centric Blog

Our blog provides practical advice for optimizing relationships with vendors and other third parties. Learn about best practices in procurement, contract management, third-party risk and much more.

what is vendor management

What is Vendor Management?

If you’re finding it difficult to find a clear and succinct definition of vendor management, you’re not alone. With so much written about vendor management technology, there hasn’t been enough focus on the discipline itself. This blog provides a succinct, modern definition of vendor management, along with an overview of the practices and infrastructure necessary to support a well-run vendor management function.
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what is vendor management

What is Vendor Management?

If you’re finding it difficult to find a clear and succinct definition of vendor management, you’re not alone. With so much written about vendor management technology, there hasn’t been enough focus on the discipline itself. This blog provides a succinct, modern definition of vendor management, along with an overview of the practices and infrastructure necessary to support a well-run vendor management function.
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  • Contract Management
  • Procurement Management
  • Technologies & Tools
  • Third-Party Risk
  • Vendor Lifecycle Management
Technologies & Tools

Key Features to Look for in Procurement Software

As organizations strive to enhance their procurement processes, the significance of procurement software has grown exponentially. Similar to the widespread ...
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Technologies & Tools

Navigating Top Trends in Vendor Management Software in 2024

In the ever-evolving landscape of vendor management, technological advancements have ushered in a variety of software solutions, providing organizations with ...
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Vendor Lifecycle Management

Four Ways to Unlock Value from Your Vendor Management Operations

More than ever before, organizations are adopting holistic, process-driven vendor management. They are evolving vendor management from a mere compliance ...
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Vendor Lifecycle Management

2024’s Essential Vendor Management Trends

Vendor management continues to evolve at an unprecedented pace.  Customers, boards, auditors, and regulators are demanding more robust policies, procedures, ...
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Third-Party Risk

Who’s Considered a Third Party in Third-Party Risk Management?

As a third-party risk practitioner and consultant, I’ve worked with hundreds of stakeholders across multiple industries. One of the fundamental ...
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Procurement Management

When Does It Make Sense to Use a Purchase Order?

In the dynamic world of procurement and vendor management, purchase orders (PO) are critical in achieving efficiency, cost control, and ...
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Procurement Management

Procurement Policies & Procedures Made Easy: A Comprehensive Guide for Development & Implementation

To thrive in any economy, strong vendor relationships are paramount to success. That’s why understanding and implementing effective procurement policies ...
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Third-Party Risk

4 Red Flags To Look For When Reviewing Third-Party Financial Statements

A vendor’s financial statements are the most objective way to assess its overall health. Here are four red flags you should always be looking for.
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procure to pay process
Technologies & Tools

What is the Procure-to-Pay Process?

Procure-to-pay (P2P) is a business process that encompasses all activities involved in obtaining goods or services from a third-party supplier.   ...
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