Operations Management Articles

Solution Spotlight: Google’s Most Popular Vendor Management Software Explained

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.

Google's most popular vendor management software

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

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:

  • Data consolidation: Consolidates supplier data (e.g., contact information, audit results, performance ratings, certifications, contracts), as well as interactions and updates to supplier accounts into a searchable database.
  • Monitor supply chain performance: Records supplier NCRs, tracks CARs, and generates supplier performance ratings to help streamline supply chain performance. In the case of NCRs, suppliers are automatically notified from the supplier portal to avoid compliance-related risks.
  • Comprehensive reports: Offers a real-time 360-degree view of supplier performance data to eliminate risk across the supply chain.
  • Vets and manages supplier compliance: Manages related supplier management requirements for ISO, FDA, and other standards to make sure that suppliers are in compliance.

What makes Intelex unique?

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.

Intelex pricing

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.

Intelex comparisons

To view and compare alternatives to Intelex based on features, support options, and more, check out GetApp's Intelex's alternatives page.

LogicManager

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:

  • Shared portal: Lets users collaborate, communicate and share information with vendors over an online interface.
  • Centralized repository: Hosts a database of active vendors in one place.
  • Risk assessment: Ensures systematic and consistent risk evaluations with prebuilt, customizable forms and questionnaires. Checks vendor controls and assessments against internal policies and external regulations to ensure compliance issues don't arise.
  • Notifies vendors: Keeps track of review dates and contract renewal dates with recurring tasks, alerts, and reminders.
  • Automated workflows: Allows users to create a more streamlined due diligence process.
  • Performance matrix: Offers reports with heat maps, top risk summaries, risk control matrices, and custom dashboards.

What makes LogicManager unique?

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 pricing

LogicManager offers four packages. Starting prices are listed below, but businesses should contact the vendor for an accurate price quote.

  • Essentials: Starts at $10,000 per year. Includes limited advanced reporting functions, 5 GB data storage, 24/7 support, and more. Suitable for small businesses that are starting to grow their risk management program.
  • Professional: Starts at $30,000 per year. Includes everything in Essentials plan, plus the full advanced reporting engine, 8 GB data storage, a la carte API integration, and more. Suitable for midsize businesses.
  • Advanced: Starts at $75,000 per year. Includes everything in Professional plan plus 10 GB data storage, and more. Suitable for large companies managing risks from multiple angles.
  • Enterprise: Starts at $150,000 per year. Includes everything in Advanced plan, 20 GB data storage, and a fully integrated governance, risk, and compliance (GRC) suite. Suitable for large companies managing risk across an enterprise.

LogicManager comparisons

To view and compare alternatives to LogicManager based on features, support options, and more, check out GetApp's LogicManager alternatives page.

Onspring

Vendor summary in Onspring

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:

  • Risk assessment: Perform vendor due diligence and analyze criticality, usage, and spend.
  • Vendor management: Manage vendor profiles with vendor name, vendor type, subsidiary, vendor relationship, description of services, and contract review and renewal.
  • Automated workflows: Uses dynamic work queues and bulk editing to streamline vendor profiles, documents, contracts, assessment findings, review dates, and more. Automates workflow to manage the contract process, alerting stakeholders about expiration dates and allowing them to review tasks through email.
  • Dynamic reports: Provides dynamic contracts and vendor reports in Word or PDF files. Monitor key vendor metrics via personalized dashboards and dynamic reports.
  • Interteam coordination: Lets users coordinate across legal, procurement, and compliance departments. Send detailed vendor assessment reports with risk ratings, open issues, overall spend, and more to external contacts.

What makes Onspring unique?

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 pricing

Onspring offers two packages. Starting prices are listed below:

  • Team edition: Starts at $150 per user per month for up to 40 users, with a one-time onboarding fee of $1,850. Includes unlimited business apps, live reports, and dashboards; 4 GB data storage; 20 GB file and attachment storage; phone, email, and chat support; and online user community. Suitable for midsize businesses and teams within larger companies.
  • Enterprise edition: Pricing available on request for ten or more users and annual billing. Includes unlimited business apps, live reports, and dashboards; at least 4 GB data storage; at least 20 GB file and attachment storage; phone, email, and chat support; and customized training. Discounted pricing available for larger groups.

Onspring comparisons

To view and compare alternatives to Onspring based on features, support options, and more, check out GetApp's Onspring alternatives page.

PeopleFluent

Engagement summary report showing all third-party staffing vendors in PeopleFluent

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:

  • Workforce management: Helps track and manage full-time and provisional workforce through a central dashboard. Documents, records, and captures workforce data to confirm compliance licenses and certifications, drug screens, and security access are all up-to-date.
  • Automated workflows: Offers configuration to automate workflows, requirements, positions, locations, etc.
  • Business intelligence: Offers a business intelligence engine that provides various types of reports, including engagement summaries for active vendors.
  • Compliance and security management: Offers ID management that tracks and monitors compliance by position and location for all non-full time workers including consultants, independent contractors, and service and maintenance workers.
  • Mirror technology: Comes with patented mirror technology that offers access to HR and talent-related activities and applications (including the ones delivered by vendors). Allows video and social collaboration along with customization of the content and look of the portal.

What makes PeopleFluent unique?

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.

PeopleFluent pricing

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.

PeopleFluent comparisons

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

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:

  • Vendor classification: Categorizes vendors according to risk level, based on the information gathered during the due diligence process (risk assessment interviews, CPA analysis of complex vendor financials and Certified Information Systems Security Professional, or CISSP, analysis of security policies).
  • Workflow management: Sends documents and questionnaires through workflow engine to gather and store information from third parties, i.e., vendors.
  • Self-service portals: Offers the ability to set up temporary user accounts.
  • Centralized data: Stores digital files and contracts that can be accessed from the digital file library.
  • Automated notifications: Notifies specific employees and stakeholders of upcoming due dates and expiration dates for insurance certifications.
  • Customized reports: Provides an option to use prebuilt reports or customizable report templates.
  • Security: Offers user group security and lets users set security levels and assign vendors to specific employees. The auto back-up function lets users keep work safe and secure. And, the single sign-on option lets users sign-in without compromising security.
  • Audit history record: Maintains history log with the ability to track document changes made by employees and vendors.

What makes Quantivate unique?

Quantivate offers live vendor management demos (that occur weekly) and on-demand vendor management demos for users to ensure proper training on the software.

Quantivate pricing

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.

Quantivate comparisons

To view and compare alternatives to Quantivate based on features, support options, and more, check out GetApp's Quantivate alternatives page.

Let us help you make a decision

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.

  • View a comprehensive side-by-side comparison of LogicManager, PeopleFluent, Quantivate, Intelex and Onspring on GetApp.

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