9 Best Vendor Management Systems For Better Vendor Relationships

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Inadequate license management leads to resource waste. When employees overuse, underuse, or when organizations fail to track licenses properly, unnecessary costs arise. 

Often, companies aren't aware that licenses aren’t being revoked or reassigned, which only adds to the inefficiencies.

A streamlined vendor relationship ultimately helps you secure better deals during renewals or upgrades. However, if managing everything from order tracking to contract negotiation becomes overwhelming, consider automation to enhance efficiency.

Fortunately, you can streamline these processes with the best Vendor Management Systems (VMS). In 2025, the market offers a variety of top-notch VMS options, each promising to enhance supplier interactions.

Let’s explore the best vendor management systems to help you achieve better results.

TL;DR

• Vendor management systems help organizations manage vendor relationships, from selection to payment processing, improving efficiency and saving costs.
• SaaS vendor management systems are essential for nurturing vendor relationships, streamlining onboarding, and negotiating better deals while reducing unnecessary costs.
• CloudEagle.ai offers a comprehensive SaaS procurement and vendor management platform for centralized contract management, license optimization, and real-time insights.
• Some examples of the top vendor management systems include CloudEagle.ai, Productiv, LeanIX, Vendr, and Zylo, each offering unique features for better vendor relationships and cost optimization.
• Choosing the right VMS can streamline vendor management, reduce inefficiencies, and enhance procurement processes, with CloudEagle.ai being a standout option.

1. What Are Vendor Management Systems?

A vendor management system is a platform that helps organizations manage relationships with suppliers, vendors, or contractors. It streamlines processes like vendor selection, onboarding, performance evaluation, contract management, and payment processing.

While many secondary tasks make vendor management so complex, here are some primary ones that every process should ideally cover.

• Vendor management systems help find potential vendors based on products, prices, location, and reputation.
• It manages vendor contracts, tracking terms, renewal dates, and compliance requirements.
• These vendor management system tracks vendor performance using metrics and KPIs to assess effectiveness.
• It facilitates communication and collaboration between organizations and vendors through messaging, document sharing, and task assignment.
• The system generates reports to analyze vendor performance, costs, and trends for informed decision-making.

2. Why Are SaaS Vendor Management Systems Necessary for Organizations?

Business processes involve many vendors, and maintaining good relationships with each is crucial. However, managing them manually isn't sustainable in the long run. That's why a SaaS vendor management platform is essential.

With this system, you can nurture vendor relationships effectively. Here are some key benefits.

• These vendor management systems ensure the vendor has a streamlined onboarding process without hiccups to avoid delays.
• This ensures that the vendors are adept at fulfilling their services and providing a well-lubricated experience to the company.
• With structured vendor management systems, you can negotiate better, yield more impressive results, and help secure better deals.
• Utilizing the best vendor management system can lower many additional SaaS costs, allowing for a better and more flexible vendor contract.

3. List of Best Vendor Management Systems to Manage SaaS Vendors

Managing multiple SaaS vendors can be tough, but the right VMS can make it easier and more efficient. Here’s a list of top vendor management systems to help you manage your SaaS vendors.

A. CloudEagle.ai

CloudEagle.ai is an all-in-one SaaS management and procurement platform that handles the vendor-related tasks mentioned above, and many more, such as SaaS spend management and contract management.

It offers centralized visibility to all vendors, eliminating the need to manage multiple platforms separately. Also, it provides real-time visibility into vendor spending and tracks licenses to ensure compliance.‍

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CloudEagle.ai is one of the comprehensive platforms in the vendor management category. It enables you to manage the entire vendor lifecycle. Within the platform, you will get:

a. Centralized Dashboard: CloudEagle.ai’s centralized dashboard provides complete visibility across all the vendors in the stack. Having all vendors easily accessible in one place makes handling various vendor-related tasks much easier.

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With a unified dashboard, it tracks app usage, helping businesses optimize investments and maximize value. It also enables improved analytics and insights for cost restructuring or removing suppliers that do not significantly contribute to ROI.

b. Vendor Research: With so many vendors on the market, finding the right ones can be challenging. With so many vendors on the market, finding the right ones can be challenging. You don't have to visit Google, Capeterra, or G2 to research vendors; they are embedded within CloudEagle.ai.

Leveraging its vendor recommendation engine, you can find the right vendor based on your pain points. You can also read relevant reviews, compare pricing and features, analyze the ratings, and select the right vendor without leaving the platform.

c. Outsourced Procurement: Organizations often overlook vendor relationship management. As vendors are similar to business partners, you must maintain a healthy relationship with them.

If your organization's procurement team lacks the time or bandwidth to handle the procurement negotiation process, the best option is to use an outsourced procurement service like CloudEagle.ai, who are experts in the field.

CloudEagle.ai’s negotiation experts will conduct detailed research on potential vendors, negotiate on your behalf, and secure the best deals. Leveraging their expertise and price benchmarks, they ensure you purchase the right products at the right price.

‍CloudEagle.ai's assisted buying services are proving to be a game changer for companies facing procurement time and bandwidth issues and lacking price benchmark details.

Know how CloudEagle.ai helped Nowports streamline SaaS procurement, saving 34% by centralizing contracts and ensuring timely renewals.

d. ​Procurement Workflows: Using CloudEagle.ai's procurement workflows, you can make data-driven purchase decisions internally to streamline your SaaS procurement process. The platform lets you automatically assign tasks, notify stakeholders via Slack, email, and in-app notifications, and ensure timely approvals using procurement workflows.

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You will also get access to "Slack for Procurement," a Slackbot that promotes collaboration and streamlines the entire procurement process. With immediate team connectivity in Slack, communication accelerates, reducing coordination time by up to 25%.

e. Renewal Management: SaaS renewals are an opportunity to renegotiate with the vendors, but keeping track of renewals can be challenging. But here's the good news: CloudEagle.ai can help you stay ahead of your SaaS renewals.

CloudEagle.ai enables you to automatically generate a renewal calendar based on contract dates, enabling efficient monitoring of upcoming renewals. Renewal workflows initiate 90 days in advance, automatically assign to the appropriate stakeholder, and escalate until completion.

f. Contract Management: CloudEagle.ai consolidates all contracts and their associated data into one centralized location. The tool integrates various internal systems to extract contract information and organize all SaaS contracts and invoices into a centralized dashboard.

Even if your team uses spreadsheets for contract tracking, CloudEagle.ai easily integrates this data and automates the metadata extraction process for quicker data migration.

Additionally, CloudEagle.ai offers AI-powered contract metadata extraction that automatically pulls key details from contracts, like start and end dates, important clauses, and renewal terms. This ensures accuracy and saves time.

CloudEagle also uses this data to create a renewal calendar, helping organizations track upcoming contract renewals and manage deadlines efficiently. This automation reduces errors, cuts down on manual work, and improves overall contract management.

‍With CloudEagle.ai’s effective contract management, you can keep track of renewals and use relevant insights to ace your vendor negotiations.

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Read the complete story of how Oyster HR boosted efficiency and contract visibility by switching from spreadsheets to CloudEagle.ai for centralized contract management.

g. License Management: CloudEagle.ai's direct integrations allow you to view purchased licenses for each application and their usage. Underutilization can affect ROI, but with CloudEagle.ai's license reclamation workflows, you can deprovision users for low usage and reclaim those licenses.

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With CloudEagle.ai's license harvesting workflows, you can optimize your organization's SaaS license management and ensure that no SaaS licenses are underutilized or wasted.

h. Get Complete SaaS Visibility: CloudEagle.ai aids in discovering all SaaS applications, offering over 500 integrations and browser extensions.

By integrating with internal systems and applications through direct API connectors, CloudEagle.ai provides a comprehensive view of your SaaS stack on a single dashboard, including details on apps, spending, vendors, users, and licenses.

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i. Cost Optimization: Integrating the tool with your SaaS ecosystems, you can monitor SaaS app usage, identify active/inactive users, and gather insights like login details and premium license counts.

With this visibility, you can make informed decisions about duplications and redundancies and swiftly take action when needed.

You'll gain complete visibility into your SaaS apps, including their usage, spending, and vendor information. You can analyze instances of underutilization, overutilization, duplications, and more from a single dashboard, enabling you to optimize them and save on your cloud costs.

j. Automated Onboarding and Offboarding: CloudEagle.ai's automated workflows simplify user provisioning and deprovisioning tasks. With user provisioning, you can efficiently onboard users and grant them instant access to SaaS applications.

These workflows assist your IT team in swiftly providing access to applications, eliminating manual intervention. Additionally, offboarding is simplified, enabling one-click access revocation to uphold security and compliance standards effectively.

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k. Get Real-Time Insights and Reports: CloudEagle.ai reports make generating custom reports effortless and convenient. You'll have access to reports related to vendor risk management, SaaS contracts, license renewals, licenses, duplicate apps, unauthorized software, and more.

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CloudEagle.ai provides eight types of report categories, including spend visibility, renewal management, budgeting, app visibility, app access, shadow IT, spend optimization, low usage, and over 40+ reports. These reports offer insights and analytics related to optimizing cloud management, streamlining finances, and enhancing resource allocation.

The tool integrates with your SSO and finance systems, providing an eagle’s eye view of your spending data. The reports make it easy for your team to retrieve and attribute all necessary spending information to each department.

You don't have to take our word for it. Listen to this exciting story from Iffi Wahla, the co-founder and CEO of Edge; he recalls how his team streamlined SaaS vendor management using CloudEagle.ai.

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Pricing

The starter plan is priced at $2000 per month. Click here to see the pricing plans.

Rating

• G2: 4.7/5

B. Productiv

Productiv is a SaaS intelligence platform designed to optimize spending and boost efficiency for SaaS tools and vendors. It features a comprehensive discovery process that gathers all your critical vendor data in one place. With Productiv, you can use trusted insights to procure the best prices, negotiate SaaS renewals, and improve your relationships with vendors.

Productiv shows you:

• Areas where specific features or teams aren't being used enough.
• How different parts of your organization are working together.
• Which apps are most helpful for collaboration.
• Which apps you don't really need because they're duplicated elsewhere.
• Whether upgrading to a better plan or switching to a cheaper one.

Key Features

• Productiv provides centralized SaaS subscription management, offering a single platform to track all your software tools.
• It also offers data-driven insights to optimize SaaS usage, helping you identify areas for cost reduction.
• Additionally, it automates the renewal process and contract management to ensure timely renewals and prevent unnecessary costs.

Pros

• Productiv helps track and optimize SaaS spending, ensuring that you are not overpaying for unused or underutilized tools.
• It provides detailed insights that help teams make data-driven decisions about SaaS tools.

Cons

• The platform has a learning curve for new users, requiring some time to get accustomed to its features.
• Its pricing might be high for smaller teams or organizations with limited SaaS needs.

Pricing

‍Schedule a demo to learn more about pricing.

Rating

• G2: 4.6/5

C. ‍LeanIX

LeanIX helps you manage your vendor inventory with tools for tracking usage, handling contracts, and generating insights to maximize ROI. It also spots high monthly expenses to cut unnecessary costs. Plus, it centralizes all vendor contracts, making it easy to track terms, value, and licenses.

In addition to its risk mitigation features, it also discovers and tracks applications in your stack to ensure compliance with GDPR, SOC2, and other regulatory requirements.

Key Features

• LeanIX offers SaaS portfolio management, allowing you to track and manage all your software tools in one place.
• It integrates with various business systems, providing seamless data flow across your organization.
• The platform also provides real-time data to support IT transformation efforts and helps align business and IT strategies.

Pros

• LeanIX provides excellent visibility into your IT infrastructure, enabling better decision-making.
• It also helps align business and IT teams, ensuring both are working toward the same objectives.

Cons

• The user interface can be complex and might take some time to navigate.
• Additionally, the setup process can be lengthy and may require dedicated resources to implement effectively.

Pricing

‍Contact the team to know the price.

Rating

• G2: 4.7/5

D. ‍Vendr

Vendr handles the entire vendor lifecycle, from requests to workflows and maintenance. It improves supplier relationships by encouraging open communication and aligning goals. With automated workflows, follow-ups, and training, Vendr saves businesses time. It also gives access to SaaS buying data, helping you make smarter, faster purchases and stay ahead of competitors.

Key Features

• Vendr optimizes SaaS procurement by streamlining vendor negotiations and contract management.
• It helps with procurement optimization, ensuring that companies are paying fair prices for the tools they use.
• The platform also assists in managing renewals and negotiating better terms for existing contracts.

Pros

• Vendr simplifies procurement and contract renewals, ensuring a smooth and efficient process.
• It also helps companies save on SaaS costs by negotiating better terms with vendors.

Cons

• Vendr may not have as many advanced customization options compared to some competitors, limiting flexibility.
• Additionally, it might not be the best fit for every type of business, especially those with unique procurement needs.

Pricing

‍The starter plan is priced at $3,500 per month.

Rating

• G2: 4.6/5

E. Zylo

Zylo helps you get visibility into all your SaaS applications and vendors—even those not managed by IT. With frictionless monitoring from Zylo, you can see all your vendors in one place, along with usage, spending, and contract details.

This vendor management platform also includes licensing technology that helps you reduce unnecessary spending. The tool lets you identify and reassign or cancel licenses that are sitting unused across your organization.

Zylo continuously uncovers and tracks all subscriptions and costs related to shadow IT. This not only helps you benchmark against your peers but also leads to much lower costs and better overall efficiency.

Key Features

• Zylo offers comprehensive SaaS management, helping organizations track and optimize their software investments.
• It provides detailed cost tracking and analytics, giving you insights into where your money is going.
• Zylo also helps with vendor decision-making by offering reports on software performance.

Pros

• Zylo helps control SaaS spending by identifying inefficiencies and areas for cost savings.
• It provides detailed reports that help you understand software usage and performance.

Cons

• Zylo can have a steep learning curve for new users, requiring time to fully grasp its features. 
• Some of its advanced features may not be relevant or useful for smaller teams with fewer software tools.

Pricing

‍Request a customized quote.

Rating

• G2: 4.8/5

F. Tyasuite

Tyasuite's vendor management system is designed to handle vendors or suppliers from any industry. It helps an organization go paperless and onboard vendors through the digital platform.

From simple and digitized vendor onboarding to appropriate RFI and RFQ (Request for Quotation) releases, Tyasuite brings the entire vendor procurement process to the dashboard.

Tyasuite helps control costs by managing vendor pricing, quotes, and bids. It tracks performance with metrics like on-time delivery and quantity issues. It also saves costs by setting price validity and managing product pricing at the vendor level.

Key Features

• Tyasuite helps manage vendor contracts, streamlining procurement processes.
• It also offers budget tracking to ensure that purchases stay within allocated limits.
• The platform automates various procurement workflows, making the process more efficient and reducing manual work.

Pros

• Tyasuite streamlines procurement workflows, making it easier to manage multiple vendors. 
• Its user-friendly interface allows for quick adoption by teams.

Cons

• The platform lacks some of the more advanced features found in competing tools. 
• Additionally, its integration with third-party tools is limited, which could be a drawback for organizations using a wide range of software.

Pricing

‍The Startup Plan is priced at $299/month.

G. Stampli

Stampli’s end-to-end accounts payable platform gives you full control and visibility over corporate spending. It includes advanced vendor management to keep your vendor data and documents up-to-date, helping reduce costs and stay compliant while building strong vendor relationships. 

Stampli's system simplifies handling agreements, tracking performance, setting milestones, and monitoring tasks. It also allows users to create multiple onboarding forms to streamline vendor management.

Key Features

• Stampli automates accounts payable processes, helping streamline invoice management. 
• It provides collaboration tools for team members to approve payments and track invoices.
• The platform also offers a central hub for all payment-related communication.

Pros

• Stampli simplifies the invoice approval process, reducing the time spent on manual approvals.
• It also helps reduce errors and delays in payment processing, ensuring timely payments.

Cons

• Stampli may not be suitable for larger organizations with more complex procurement needs.
• It also offers limited customization, which could be a limitation for some teams.

Pricing

‍Contact the team to know the price.

‍Rating

• G2: 4.7/5

H. Zluri

Zluri simplifies usage monitoring to help you assess your apps' efficiency and optimize licensing costs. With a pre-built database of popular vendor apps and a strong compliance focus, Zluri ensures a secure, risk-free vendor management system.

Features like centralized contract storage, automated vendor access, and better visibility into the SaaS ecosystem help IT managers improve vendor relationships, cut costs, and reduce risks.

Key Features

• Zluri offers SaaS management tools that help you track and optimize software usage. It provides cost optimization features, ensuring you’re getting the best value from your software tools.
• The platform also integrates with other business tools, providing a unified view of your entire SaaS ecosystem.

Pros

• Zluri makes it easy to manage and optimize your SaaS stack, helping reduce unnecessary spending.
• It also automates workflows, saving time and improving efficiency.

Cons

• Setting up Zluri may require some initial time investment.
• Additionally, integration with certain tools might not be as seamless, which could cause potential delays.

Pricing

‍Contact the sales team for pricing details.

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I. Kissflow

Kissflow offers a centralized system for managing purchases, invoice payments, billing information, contracts, and procurement processes. This end-to-end platform connects various procurement functions and streamlines purchasing.

The Kissflow vendor management system allows vendors to easily update their information and receive alerts about orders and payments, ensuring that both buyers and suppliers have visibility into key contract details.

Key Features

• Kissflow offers process automation tools that help streamline business workflows. It features an intuitive drag-and-drop interface for easy workflow creation.
• Kissflow also provides integrations with other apps, allowing you to automate tasks across your entire tech stack.

Pros

• Kissflow is easy to use, with its drag-and-drop interface, making it accessible to users without technical expertise.
• It simplifies workflow creation, enabling teams to automate processes quickly.

Cons 

• To unlock advanced features, Kissflow requires a higher pricing tier, which may not be cost-effective for smaller teams.
• Managing complex workflows can be challenging for smaller teams that don’t have dedicated resources.

Pricing

‍The Small Business Plan starts at $3,600 per year.

Rating

• G2: 4.3/5

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Listen to Ash Tutika, Chief of staff at Arena, for practical financial strategies such as optimizing spending and renegotiating vendor contracts to boost ROI. He offers insights into effective SaaS spending management and building strategic vendor relationships.

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4. Conclusion

The best vendor management systems have made it easier to track, manage, and analyze suppliers, and more companies are embracing them as we move into 2025. These systems benefit not just buyers but also vendors.

In this blog, we covered the basics of vendor management systems and highlighted the top 10 options available today. It explains the importance of an effective VMS and its key features to help you improve your vendor management process.

However, you must choose the best vendor management system that solves all your problems, including some, because you never know what compliance or vendor issues you may face.

Book a demo with CloudEagle.ai to discover how it can streamline your vendor management practices.

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Frequently asked questions

1. What are the four stages of managing a vendor?

1. Assess business goals and procurement needs.
2. Analyze, evaluate and select the vendor that best fulfills that need. Then negotiate the contract for the best deal and onboard the vendor.
3. Exercise due diligence to make sure that the internal risks are in check and the vendor is compliant with the pre-defined standards while providing the desired service.
4. Optimize the processes to ensure everything is working up to the mark and work towards cutting costs while renewals are around the corner.
   

2. What is the best vendor management system on the market?

While there are many VMS tools on the market, CloudEagle stands out because of its comprehensive SaaS management, procurement, and vendor management features. The platform can help streamline your entire SaaS lifecycle.

3. What are the primary features of a Vendor Management System?

Some of the primary features of a VMS are:

1. Application discovery
2. Assisted buying
3. Streamlined procurement workflows
4. Centralized contract management
5. Renewal reminders
6. Security compliance