All of the tasks associated with vendors, service providers, and outside suppliers are centralized and automated by a vendor management system or software. From supplier selection to onboarding and performance monitoring, it oversees every facet of managing an external workforce. Stakeholders can more easily access relevant data with a single view of supplier information, documentation, finances, payments, and commitments. With the use of a vendor management system, businesses can precisely traverse the complexity of vendor management and make sure that vendor relationships continue to yield the intended results and correspond with corporate objectives. https://www.mydock365.com/vendor-management-system #vendor_management_system