This document outlines challenges companies face in vendor management including a lack of visibility into vendor transactions and performance, difficulty pulling together data for audits, bills and payments stored across disparate systems, no unified interface for connecting with vendors, inadequate relationship management, non-secure or compliant systems, and challenges integrating vendor tools with other enterprise systems.

1. Vendor Management
Challenges
Faced by Companies

2. Difficulties in pulling
data together for
audit trails

3. No clarity about
vendor performance

4. Low visibility into
transactions

5. Lack of a unified
interface to connect
with vendors

6. Bills and payment
data present in
disparate systems

7. Inadequate means to
manage relationships
with vendor

8. Absence of a secure
and compliant system

9. Lack of transparency
in purchase requisition
authorization process

10. Challenges in
integration with
other enterprise tools