# Vendor Management Made Easy

Manage all suppliers in one place, control costs, and minimize risks with Order.co’s vendor management software.

- ### Centralization

With one platform to manage all vendors, streamline communication, procurement tasks, and spend controls for all your vendors.

- ### Efficiency

Automate procurement processes, including requisitions, approvals, order fulfillment, and payments, to decrease manual tasks and cycle times.

- ### Visibility

Take control over your vendor relationships with quick access real-time purchasing and spend data, savings insights, vendor performance, and more.

- ### Customization

From product catalogs to budgets, approval workflows, and integrations, Order.co is highly customizable to your organization’s needs.

## Key features of optimized vendor management systems

### Vendor onboarding

Seamlessly onboard vendors leveraging Order.co’s automated catalog creation and expert implementation team for a quick and easy setup.

- Minimal time and effort to add vendors
- Scale your vendor network without sacrificing efficiency

### Contract negotiation

Secure better pricing or terms for high ticket vendors and products with hands on support from our Vendor Partnerships team.

- Eliminate lengthy contract negotiations
- Optimize your vendor selection

### Vendor performance management

Gain complete vendor visibility and measure KPIs for improved supplier relationships, operational efficiency and mitigated risks in reliability, delivery timelines, and more.

- Access real-time data on all vendors
- Ensure vendor performance meets or exceeds expectations

### Vendor risk management

Boost supply chain resilience and optimize vendor selection with Order.co's sourcing AI technology that identifies the optimal vendor for each purchase.

- Proactively prevent business disruption
- Access 40k+ vendors to meet all fulfillment needs

### Procurement automation

Optimize your vendor management with procurement automation features, such as automated requisitions, order fulfillment, tracking, and reporting.

- Shorten your purchasing cycle time
- Improve order accuracy and vendor communication

### Vendor payments

Simplify vendor payments with Order.co’s consolidated bill. Pay 1 bill per month for all purchases, while every vendor receives timely payments for each individual order.

- Automate payments and bookkeeping
- Unlock universal net terms for all vendors

## Vendor management should be manageable. With Order.co, it is.

### “Because all of our vendors are consolidated onto 1 platform, we are able to streamline the supply ordering process, as well as expense allocation, which ultimately allows us to focus more energy on our business.”
\- Gina, Assistant Manager of Retail Operations, Loro Piana

### “Order.co’s analytics are tremendous. We couldn’t get anything nearly as granular from our vendors...by location, practice group, or category.”
\- Ellsworth, National Operations Manager, Cozen O'Connor

### “For opening new studios, we had as many as eight to ten different vendors. It used to take about 2 days and a lot of email correspondence back and forth. Now it is less than a 4 hour process and I can trust everything will arrive correctly.”
\- Charly, Regional Manager, [solidcore]

### “Order.co is the easiest way to streamline the entire vendor purchasing and negotiating process into one system.”
\- Ben, Operations Manager, The Yard

## What is vendor management software?

Vendor management software helps businesses select the right vendors, control costs, [mitigate vendor risks](https://www.order.co/blog/purchasing-tips/improve-your-vendor-management-policy-with-nasas-risk-mitigation-framework/), ensure order delivery and pay suppliers.

## What is a vendor management system used for?

Businesses use a [vendor management system](https://www.order.co/blog/vendor-management/vendor-management-system/) to organize and centralize vendor data, improve communication with vendors, and eliminate manual purchasing tasks.

## What are the benefits of a vendor management system?

[Using a vendor management system](https://www.order.co/blog/vendor-management/vendor-management-system/), businesses reap substantial benefits:

- Reducing spending on materials, goods, and services
- Consolidating suppliers into a preferred program
- Tracking reorder and renewal information
- Improving supplier compliance rates
- Streamlining the procurement strategy and process
- Automating the accounts payable (AP) process
- Improving decision-making through better data visibility

## How does a vendor management system work?

[Vendor management systems](https://www.order.co/blog/vendor-management/vendor-management-system/) support procurement teams through the entire purchasing process by improving communication with vendors, centralizing data, and eliminating manual purchasing tasks.

## What are the stages of vendor management?

When done effectively, [vendor management](https://www.order.co/blog/vendor-management/managing-vendor-relationships/) follows a predictable pattern of selection, negotiation, contractual agreement, performance measurement, and renewal or offboarding.