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31 categories, six groups
Procurement and vendor management software, by category
Software in this field overlaps a lot, and the names are used loosely. We split it into six groups and 31 categories, and give each one a plain page: what it does, who it suits, what to ask vendors and how it is priced.
By Procurement VMS Editorial TeamLast updated
Procurement core
- Procurement SoftwareEnd to end buying, from request to payment.
- eProcurement SoftwareOnline purchasing, approvals and catalogs.
- Procure to Pay (P2P)Requisition, PO, receipt and invoice in one flow.
- Source to Pay (S2P)Sourcing, contracts and P2P on one suite.
- Purchase Order SoftwarePO creation, tracking and three way match.
- AI Procurement SoftwareAgents and copilots that do the work.
Sourcing
- Strategic Sourcing SoftwareRun events, compare bids, award with proof.
- eSourcing and RFx SoftwareRFI, RFP and RFQ without spreadsheets.
- Reverse Auction SoftwareLive bidding for commodity categories.
- Category ManagementCategory plans, savings pipeline and roadmaps.
- Supplier DiscoveryFind and screen new suppliers faster.
- Tail Spend ManagementControl the long tail of small purchases.
Vendor and supplier management
- Vendor Management SystemsOne record and one process for every vendor.
- Supplier ManagementSupplier data, tiers, documents and status.
- Supplier Relationship ManagementJoint plans, reviews and collaboration.
- Supplier OnboardingCollect, verify and approve new vendors.
- Supplier PerformanceScorecards, KPIs and review cycles.
- Contingent Workforce VMSStaffing vendors, contractors and MSP programs.
Spend and payables
Contracts
Risk and compliance
- Third Party Risk ManagementAssess and monitor every outside party.
- Supplier Risk ManagementFinancial, cyber and supply continuity risk.
- Vendor ComplianceCertificates, policies and audit trails.
- ESG and Supplier SustainabilityEmissions, ethics and reporting data.
- Supplier DiversityTrack and grow diverse spend.
- Catalog ManagementPunchout, hosted catalogs and item content.