Why Qntrl for your vendor management process?

  • Visibility

    Create successful cost reduction strategies with deeper views into sourcing, contracts, and expenses. Aggregate demand, identify purchase overlaps, and consolidate with fewer key suppliers for greater purchase leverage.

  • Control

    Improve risk transparency and accountability by mapping vendor risks to the associated controls, regulations, vendors, and internal stakeholders. Streamline due diligence and structure the vendor risk assessment approach.

  • Automation

    Automate contract compliance and cut off-contract spending. Automate emails, invoice approvals, payments, and alerts, so you can focus on ethical sourcing, understanding reports, and generating more value.

  • Centralization

    Manage all vendor processes and associated data—including agreements, approvals, contracts, invoices, purchase orders, and billing—on one organized platform, to ensure that nothing slips through the cracks.

  • Collaboration

    Get rid of the duplicate and chaotic conversations that happen over emails, messages, and calls. Enable your departments and vendors to share documents, opinions, and feedback on one platform.

  • Continuous improvement

    Make better and more informed decisions with robust reporting. Track contract and supply progress, monitor vendor performance against KPIs, quickly spot bottlenecks, and make positive adjustments as needed.

Sample vendor management process in a few simple steps

  • Step 1
  • Step 2
  • Step 3
  • Step 4

Request submitted

The manager submits a request to make a purchase, including the reason. The department head then takes the call whether to accept or reject it.

Vendor information requested

Once the request is approved, the vendor is asked to submit all information and documents required.

Due diligence conducted

After all the required information is received, risk assessments are conducted to qualify the vendor.

Vendor activated

Upon successful results after due diligence, the vendor is added to the company's database.

Qntrl is flexible

  • Set up multiple processes—vendor selection, vendor onboarding, contract management, and more—based on entity, region, contract type, etc. from within a single dashboard.
  • Enable vendors to submit and update their information easily by setting up public forms, track all requests, and get automatic alerts as requests progress.
  • Manage all documents—vendor artefacts, SOC2 reports, RFPs, RFIs, RFQs, contracts, and more—in one place.
  • Select vendors with prenegotiated and signed contracts, reject bids that don't meet your timelines, and more, by automating vendor process steps based on condition or time.
  • Track vendors ability to fill orders accurately, fulfil orders on time, comply with company policies, provide goods of superior quality, and more, with dynamic, personalized reports.
  • Retrieve vendor background data from your local database, get contracts signed, send Slack messages to stakeholders, and more, by integrating your third-party tools.

Vendor management processes are not necessarily the same

-- Choose the one that best suits your organization --

Take a look at Qntrl

Qntrl is the world's #1 Workflow Orchestration Software. See why.

  • Centralization & Visibility
  • Compliance
  • Workflow-Centric Collaboration
  • Process Automation
  • Reports and Dashboards
  • Process Mapping
  • Integration
  • Enterprise Security
  • Centralization & Visibility

    Centralized requests, Unparalleled visibility

    Manage all of your vendors in one place. Track all requests in real-time, and easily approve new vendors, invoices, and purchase requisitions whenever and wherever.

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  • Compliance

    Ensure execution standards

    Control how processes work. Embed internal approval controls and make compliance an enabler for business performance rather than a resource drain.

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  • Workflow-Centric Collaboration

    Collaboration: when you need it, where you need it

    Access unified, relevant information throughout a process - SOC 2 report during credit risk assessment, payment vouchers during accounts payable, and such.

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  • Process Automation

    Make repetitive manual work a thing of the past

    Quicktrack your outstanding and send reminder letters for overdue payments. Customize documents such as invoices and statements to easily adapt to changing business requirements.

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  • Reports and Dashboards

    Improve Operational KPIs

    Identify reasons for delays, analyze and shorten cycle times, track vendor performance, and more with up-to-the-minute reporting. You can also use the report builder to generate reports.

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  • Process Mapping

    Orchestrate Your Processes

    Build flexible and scalable business processes - check requests, budget approvals, and such - tailored to meet the requirements of your business.

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  • Integration

    Make Qntrl even more powerful

    Connect Qntrl with your other tools- Netsuite, SAP, Slack, Stripe, and more- to minimize the need to manually reconcile and compile information from disparate sources. 

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  • Enterprise Security

    Designed for Enterprise

    Get the advantages of a cloud-based platform with the security you’d expect from an on-premises system. Field access privileges, data encryption, and role-based access controls keep information safe. 

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