by Ankita Singh
Published on 15 May 2018
In GetApp's Solution Spotlight series, we explain which software is at the top of Google's search engine results, and how each option can meet your specific needs. To identify the systems featured here, we entered the term "vendor management software" in Google during the week of March 20, 2018 in an incognito window with the location set to the U.S. The first five solutions on Google's results are described here in alphabetical order.
Losing critical vendor data? Missing renewal and billing dates? Worried about compliance issues and the complications they can bring to your business? Sounds like you need a good vendor management system.
Vendor management software helps businesses manage and maintain healthy vendor relationships. Businesses use these platforms to mitigate supplier risks and unforeseen costs, regulate compliance risks, track and measure vendor performance, and store and maintain vendor data.
More and more businesses are opting for dedicated vendor management software; the market is expected to grow at a CAGR of 11 to 15 percent by 2022, so there will be no shortage of options. As you try to choose a platform that's right for your small business, you may find yourself overwhelmed after a simple Google search.
In this article, we're simplifying the online research for you by providing a snapshot of the top five products listed on Google's search engine results pages (SERPs) for the search term "vendor management software." A high ranking on Google's SERPs means many users and potential buyers are searching for and interested in these platforms.
Intelex is a cloud-based operations and quality management software platform that offers multiple business solutions, including a vendor management application. It is designed to help businesses manage their supplier network and monitor vendor performance from initial registration, to ongoing performance assessment, including non-conformance reports (NCRs) and corrective action requests (CARs).
Intelex lets users evaluate and compare vendors before awarding a contract. They can view real-time data, including financial, geographical, political, and operational considerations, as well as potential disruptions.
Key capabilities offered by Intelex include:
Intelex offers an EHSQ (environmental, health, safety, and quality management) community forum that allows users to connect with other EHSQ professionals to network, collaborate, and share, as well as access insights, best practices, resources, and regulatory changes.
Intelex also offers four add-on applications (training management, risk management, audits and inspections, and chemical management) that expand the capabilities of the core solution. The chemical management add-on is unique in that it allows you to gather, store, and report all the data you need for efficient chemical and hazardous material management.
While Intelex does offer a free trial, pricing information for Intelex isn't published online. When it comes to vendor management software, we find that pricing tends to increase based on the functional breadth of the product, the special needs you as a user may have, and the number of people who will be using the system.
To view and compare alternatives to Intelex based on features, support options, and more, check out GetApp's Intelex's alternatives page.
LogicManager offers a number of cloud-based solutions to address risk, governance, and compliance-related challenges, including a vendor management application. Other solutions offered by the vendor include: audit management, compliance management, environmental health and safety, incident management, insurance and safety, integrated risk management, policy management, and project risk management.
Key capabilities offered by LogicManager include:
LogicManager provides advisory analysts (a team of thought leaders and risk management consultants) that remain with the customers throughout the lifetime of their lifetime subscription at no extra charge.
These advisers offer one-on-one training sessions, and they are available to help users upload their data, build reports, and address any technical and best practice questions.
LogicManager offers four packages. Starting prices are listed below, but businesses should contact the vendor for an accurate price quote.
To view and compare alternatives to LogicManager based on features, support options, and more, check out GetApp's LogicManager alternatives page.
Vendor summary in Onspring (Source)
Onspring is a cloud-based GRC solution. The vendor management application offered by Onspring lets users manage vendor relationships by automating processes such as contract review, performance monitoring, reporting, assessments, and more.
The key vendor management capabilities of the platform include:
All solutions offered by Onspring are built on a no-code platform that allows users to customize it to their needs. Manage data, workflow automation, and reporting using the drag-and drop-interface.
Onspring offers two packages. Starting prices are listed below:
To view and compare alternatives to Onspring based on features, support options, and more, check out GetApp's Onspring alternatives page.
Engagement summary report showing third-party staffing vendors in PeopleFluent (Source)
PeopleFluent is a cloud-based HR and talent management suite that offers a vendor management application to help businesses manage relationships with third-party staffing agencies. Tracking, managing, and streamlining management of contractors and contingent workers is centralized in the system.
Key capabilities offered by PeopleFluent include:
PeopleFluent is unique in that it lets businesses manage their relationships with third-party staffing agencies. It offers different delivery models for businesses that have the resources to manage their contract workforce in-house, for those that need the process completely managed, and for those that want to take a hybrid approach. PeopleFluent also provides subject matter experts to help you find and recruit a contingent workforce.
Pricing information for PeopleFluent isn't published online. In general, when it comes to vendor management software, we find that pricing tends to increase based on the functional breadth of the product, the special needs you as a user may have, and the number of people who will be using the system.
To view more cloud-based vendor management solutions and filter them based on features, pricing, and other criteria, visit our vendor management software directory.
Quantivate's vendor management software is a cloud-based solution designed to help organizations develop comprehensive vendor management processes.
The solution facilitates vendor due diligence (which includes gathering all vendor information related to financials, processes, SOC reports, etc. to perform a thorough analysis for the next audit), risk assessments, planning, contract review, and ongoing monitoring. It aims to give users a complete view of vendor relationships and vendor risks.
The main functionalities offered by Quantivate include:
Quantivate offers live vendor management demos (that occur weekly) and on-demand vendor management demos for users to ensure proper training on the software.
The pricing information for Quantivate isn't published online. In general, when it comes to vendor management software, we find that pricing tends to increase based on the functional breadth of the product, the special needs you as a user may have, and the number of people who will be using the system.
To view and compare alternatives to Quantivate based on features, support options, and more, check out GetApp's Quantivate alternatives page.
Would you like more information to make your final purchase decision? Check out some of GetApp's resources that'll help you choose the right vendor management software for your business.