Sibyl VRM - Vendor Relationship Management System
As more and more companies move to a multi-vendor model, managing vendor relationships becomes increasingly challenging. Sibyl VRM, our custom Vendor Relationship Management System is designed to optimize the process of vendor interaction and let companies assume more control over their relationships.
What is VRM?
Vendor Relationship Management Systems help organizations establish and maintain strategic relationships with their vendors. Just as CRM aims to bridge the gap between the organization and its customers, VRM does the same for the organization and its vendors. With a VRM, you can cut costs for both you and your vendors by making the process through which you interact transparent and efficient.
Sibyl VRM can help you:
- Control project budgets by creating request/review procedures for requests for proposals, purchase orders, and invoices
- Eliminate invoice data-entry by enabling vendors to submit invoices online
- Reduce time spent communicating with vendors regarding status of requests for proposals, purchase orders, and invoices by providing online vendor portals where they can track the their status and receive automated email notifications
- Maintain consolidated and searchable corporate knowledge of vendor relationship history, including vendor capabilities, past project bids, purchase orders, and invoices
Why Sibyl VRM?
Like all our products, Sibyl VRM is custom tailored to your specific needs and comes with unlimited customization, enhancements, maintenance, support and training – all for one monthly fee.
Learn More
Click here to read about how Sibyl Vision helped The Phelon Group establish a process for controlling project budgets and vendor relationships.