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Vendor Management

Streamline your

 vendor

management 

with ease

Redefine your vendor management strategy with advanced features. Centralize vendor data, streamline onboarding, and guarantee timely payments for better relationships

3 Easy Steps to

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Complete KYC Process

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The EnKash way is 

the better way

Switch to EnKash today!

Vendor

Data

Verification

Process

Visibility

Workflows

Collaboration

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Manually entered and unverified details, leading to inconsistent data which causes inefficiencies.
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Centralized platform with a unified repository for all vendor-related information, ensuring accuracy and easy access.

Enhance vendor relationships with

 better features

Vendor Onboarding

Easily add multiple vendors on the platform by providing basic details like their name, email, phone number, PAN, GST, and bank account

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Invoicing

Process

Upload single or bulk invoices in the dashboard and effortlessly manage and process them in a centralized system, ensuring a streamlined workflow

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Advance Payments

Facilitate advance payments with the “Add Advance” option to give payment upfront as and when needed

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Payment

Management

Streamline the entire payment process, from approval to execution, and get flexible payment modes like NEFT, IMPS, RTGS, UPI, debit cards virtual cards, and more to ensure timely payment

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Tracking and Reporting

Gain real-time insights into spending patterns, track expenses, and generate comprehensive reports for informed decision-making

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Learn how our vendor management can revolutionize the way you work!

Read Blogs

What is Vendor Payment and How Does It Work?

What is Vendor Payment and How Does It Work?

Dec 23, 2022

Accounts payable is a vital part of a firm’s operation and is responsible for processing the payment to the vendors. In addition, it is responsible for making virtual payments that are not associated with payroll. Making the...

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Why Is Vendor Reconciliation Essential and How to Make It Simple?

Why Is Vendor Reconciliation Essential and How to Make It Simple?

May 11, 2023

Reconciliation of accounts, whether it is bank versus cash or collections and receivables or anything else is an ongoing process. When done manually, the process of reconciliation can be time-consuming and prone to errors...

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Enhance your Productivity with Vendor Payment Automation

Enhance your Productivity with Vendor Payment Automation

Aug 15, 2023

It is rightly said that one must have a supplier relationship of continuous improvement to create an agile process of procuring to pay process flow and in turn, boost business growth and productivity....

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Got Questions?

Don't worry! Our FAQs section will help you learn about vendor management in detail

What is Vendor Management System (VMS)?

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A Vendor Management System (VMS) is a centralized platform designed to streamline and optimize the management of vendors or suppliers. Our vendor management offers advanced features to centralize vendor data, automate verification processes, and provide real-time insights into spending patterns.

What is the vendor life cycle?

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The vendor life cycle encompasses the five stages of managing vendors:

  • Pre-qualification: Identifying and evaluating potential vendors based on your needs and criteria

  • Selection: Choosing the most suitable vendor after a thorough assessment

  • Onboarding: Integrating the chosen vendor into your systems and processes

  • Management: Collaborating effectively with the vendor, monitoring performance, and ensuring contract compliance

  • Renewal/Termination: Deciding whether to renew the contract or find a new vendor based on performance and future needs

What is another name for vendor management?

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Supplier management and third-party relationship management (TPRM) are two alternative terms for vendor management. Though slightly nuanced, they essentially involve building and maintaining efficient relationships with external partners who provide goods or services necessary for your business operations.

What are the four stages of vendor management?

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The four stages of vendor management typically include vendor identification, onboarding, ongoing monitoring, and performance evaluation.

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Seeking further understanding of vendor management?

Vendor management involves overseeing relationships with external suppliers, ensuring efficient collaboration, and monitoring performance to optimize operational processes and control costs. It aims to foster positive and productive partnerships between a company and its vendors.

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Explore our comprehensive guide
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What are the benefits of a vendor management system?

Benefits of using EnKash vendor management system:

  • Streamlined Operations: EnKash centralizes vendor data, onboarding, invoicing, and payments, eliminating manual processes and saving time
  • Improved Cost Efficiency: Gain real-time insights into spending patterns, and identify discounts and early payment opportunities
  • Enhanced Transparency and Compliance: Ensure accuracy and consistency in vendor data, and maintain complete audit trails
  • Reduced Risks and Fraud: Automate vendor verification through eKYC to minimize the risk of fraudulent activity
  • Stronger Vendor Relationships: Improve communication and collaboration with vendors through integrated dashboards and shared updates, fostering trust and transparency

Is vendor management a part of ITIL?

Yes, vendor management is a crucial component of ITIL (Information Technology Infrastructure Library) practices, ensuring effective management of external service providers.

Who is responsible for vendor management?

Vendor management is a collaborative effort involving various stakeholders, with responsibility often falling on procurement, supply chain, or vendor management teams.