The NEXSYS-ONE Vendor Management System - VENDOR-ONE, is designed to onboard and manage vendors from any industry. It helps businesses to go paperless and the digital platform helps to easily onboard vendors; interact and transact with vendors, suppliers, landlords, service contractors and so on. Using VENDOR-ONE, businesses can develop a consistent and well-regulated approach to vendor assessment, selection and collaboration.
VENDOR-ONE also enables to manage contracts, insurance and related documentation and other vital information in a centralized location. Thus, enabling businesses to achieve better decision-making capabilities and saving valuable time considering the fact that businesses may be dealing with multiple vendors for multiple projects at the same time.
Simplified Onboarding and Screening
VENDOR-ONE provides a simplified and digitized vendor onboarding procedure. It defines the mandatory onboarding documents and attaches the same. Automated notifications are triggered to the required parties on successful vendor onboarding. VENDOR-ONE facilitates effective screening and approval of new vendors (at different levels of approvals) by verifying vendor compliance with the business requirements. That is, the system provides definite compliance criteria when managing vendor profiles. Thus, saving unnecessary hassle, time and money.
Digitized Vendor Management and Self-Service
VENDOR-ONE facilitates the management of vendor agreements and contracts easily. The system enables to configure and track various milestones for the vendor. It also helps reduce the vendor go-live time. VENDOR-ONE provides vendors the ability to easily update their information, and get alerts on order and payment details, documentation uploads/approvals and more.
Integrating with Procurement Module
By integrating with the procurement module, businesses can easily create a PO and invoice for the vendor. The vendor management data enables you to manage the vendor payment terms and payment lines. The ‘Ship-to-Location’ feature facilitates appropriate material tracking and receiving.