Vendor management Process and Benefits

In an organization, managing multiple vendors is the more challenging, sophisticated and complex process in the entire procurement process. Outsourcing Vendor Management saves extensive time, effort, cost & lengthy documentation process for Sourcing Supplies. ASC Sourcing Solution services offer tailor-made solutions for managing & establishing a huge vendor base. Gradually, as your business increases the networking, vendor, business, payment, it becomes is complicated to manage effectively. Managing risk is a troublesome job in such circumstances, but when companies outsource functions to suppliers, vendors and 3rd party the entire process becomes smoother.

Vendor Management Process

Vendor management is the process that empowers a company to take suitable measures for controlling cost, minimizing potential risks associated with vendors, confirming tremendous service deliverability from vendors in the long-run. This comprises of researching about the suitable vendors, sourcing, procurement and gaining pricing details, evaluating the work quality, managing relationships in case evaluating the performance of multiple vendors by setting company’s standards, and confirming that the payments are made on time.

Benefits of Vendor Management

• Save time and effort in validating multiple Vendors/ Reduce vendor set up cost/ reduction of the lengthy documentation process.
• Sourcing of goods and supplies on an instant basis from GST registered/unregistered vendors, PAN India without losing out on GST input.
• Contractual staff/interns working at your site may be routed through Rolls for taking care of all Regulatory Compliance
• No Tax Hassles – Reverse charge, e-way Form, TDS, and GST Compliance responsibility will lie with ASC
• ASC has BG/LUT permission to comply with zero-rated tax compliance for SEZ units

ASC has a team of Vendor Management experts helping companies to focus on making strategic decisions rather than spending time on dealing with issues related to vendors, vendor procurement, vendor relation, vendor tax, or their payment.