Best Vendor Management Software Ever

What are the best aspects of this product?

ServiceNow is an excellent tool for centralizing our vendor management needs. This is used by the people from different departments including Legal, Finance, Security, IT, and Accounting to collaborate with vendors, keep tabs on contract information, optimize the budgets of each department, place different types of documents for safekeeping, get notified if a contract/software license is about to expire, etc. All the users from different departments agree that ServiceNow helps centralize many of our business processes and information like license, vendor information, budget allocation, negotiating software licenses, and more. It's easy to use as well, which is a big bonus. The support has also been constructive. They listen and consider our suggestions to improve the software and implement them, or something of similar effect if they think it adds value to the software.

What aspects are problematic or could work better?

Well if I really have to say something I dislike about his product is that it didn't exist earlier. It would've saved us a lot of time and resources.

What specific problems in your company were solved by this product?

We use the software to centralize any process related to vendors. For instance, the legal department can upload the documents like contracts and specify the content within, including the contracts' different variations. The reminder features are also very useful. We are getting an email whenever a bill is nearing its due date or when a software license is about to expire. Thanks to this, we are never caught by surprise by these easily forgettable issues. The integration support is topnotch as well because manually syncing or transferring data can be a heavy workload and the software does this for us. The product is also quite new, so there are bound to be missing features here and there. However, the good thing is that the vendors are attentive to our particular needs and add features as soon as they can. It's incredible how one software can excite many people from the office from different departments.

Are you a current user of this product?

Yes