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5 Tips in Choosing Vendor Management (VM) Software

by Andy Vanderhoff

May 03, 2013 11:05 am

Your time is valuable and chasing down vendor information is time consuming, expensive, and often never gets done. With increased in outsourcing of critical business functions, the chances are your institution shares critical vendors with other institutions. Regulators and auditors are increasingly focusing more on how vendors and contracts are managed and maintained by institutions. This means that every institution is bearing the full brunt of the cost to meet regulatory requirements for vendor’s due diligence. It is more critical than ever to make your vendor management implementations easier, faster, more secure and cost effective. What are some of the things to look for in choosing comprehensive VM software? Below are a few tips that will guide you in choosing the right solutions for your organization.


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