Microsoft 365 Vendor Management System | Power Apps and SharePoint (2024)

Microsoft 365 vendor management application that is built on the SharePoint Online, Power Apps, Power Automate and Microsoft Teams will help your organization to take the necessary steps to control costs, decrease risk, provide high-quality service, and develop mutual value from vendors.

Microsoft 365 vendor management application that is built on the SharePoint Online, Power Apps, Power Automate and Microsoft Teams will help your organization to take the necessary steps to control costs, decrease risk, provide high-quality service, and develop mutual value from vendors.

• Integrated with Other Microsoft Apps
• Shared Database
• Enhanced Security
• Increased Collaboration
• Document Versioning
• Supports 500 Million Documents
• Advanced Search Capabilities
• Deeper Customization is Possible

• Given for Vendors’ Self-Service
• Effective On-Boarding and Off-Boarding
• Vendor Rating Functionality
• Procurement Workflow Automation
• Independent Vendor Profile Management
• Best-Suited Vendor Segmentation Model
• Simplified Invoicing and Order Management
• Intelligent Reporting and Analytics

Our Microsoft 365 vendor management system is fully integrated with SharePoint which will help your business with key features. SharePoint is a document management and storage system that includes apps like lists for storing data from forms. Medium to large companies may have hundreds of vendors and numerous of that sell similar products and services. SharePoint helps you choose the list of services/products which makes your search process simple and straightforward.

Our application allows you to create channels based on vendor management-specific needs (such as topic, discipline, or subject). Authorized employees in your company can create channels for each type of vendor and organize a Teams meeting with them directly in Microsoft Teams. Invite external parties to the meeting by including their email addresses in the invitation. Create a private channel for discussions about finance, budget, and contracts for internal team members (excluding vendors).

Our unique vendor management system is built using Power Apps which provides a simple-to-use dashboard and integrates with existing Microsoft 365 data sources including SharePoint Online, and Dynamics 365. With our end-to-end centralized, web-enabled, mobile-optimized, single repository vendor management system, you may eliminate time-consuming, manual operations with dynamic applications.

The Vendors’ data is stored in Dataverse or SharePoint enabling it to be easily connected with Microsoft Dynamics 365 and Power Automate for automated workflows. Boost the efficiency of your purchasing process by lowering operational costs and increasing profit margins. Avoid insufficient payments, missed deadlines, or non-compliance/agreement breaches using automated workflows.

Collaboration is critical in vendor management; it can help you enhance existing procedures, drive product or service innovation, and so on, and SharePoint and Microsoft 365 are extensively used because of their collaboration capabilities. It enables you to securely share critical papers both inside and outside your organization. The co-authoring function in Microsoft 365 vendor management system is useful for contract management because it allows multiple departments to not only examine but also amend and draft contracts. Because the contract team has real-time read-write access to the shared document database, it is easier for them to enhance productivity.

It can be difficult to maintain track of contracts without effective management software; you would have to manually search through documents, and you could mistakenly edit a document and rewrite it. As a result, determining the most recent version of the report, and so on, would be more difficult. Document versioning enables your vendor management team to track changes to documents in real-time, keep track of prior versions of contracts throughout the contract lifecycle, and make changes to a report without fear of overwriting/replacing the document.

If your firm manages numerous vendors, metadata can be quite useful; you can build information for the document using SharePoint and Microsoft 365. The business area of the agreement, the type of vendor, the title of the goods, the vendor identification number, the assigned start-end or renewal date, the value of the deal, and so on are all examples of metadata. The metadata can be customized for searching and managing documents, and the centralized database allows management to set and implement modifications to the vendor across the firm.

As a business grows, it may require extra storage space, the installation of new software, and so on. They’d also have to adapt to a new system if their existing management system is inadequate. You can expand your platform using SharePoint and Microsoft 365 as your company grows. The platform can handle at least 500 million documents, which is more than enough for a huge corporation. If you run out of room, you can request additional space based on your requirements. This means you won’t have to learn a new platform every time you scale up.

SharePoint and Microsoft 365 include OneDrive, which has a storage capacity of up to 25 TB for your documents. You can keep track of completed goals, responsibilities, profiles, and other pertinent data in a single database that is accessible to everyone in the firm. The administration can search and filter documents across the platform more easily with the help of a centralized search tool. They can also design custom displays for their papers to improve their application’s search capabilities.

SharePoint includes advanced security measures that help to prevent outages and unauthorized access. Users can customize security settings to comply their individual requirements, as well as storage and auditing policies and what to do if business documents expire. Access/editing privileges can be configured at the document or item level. It includes new workflow upgrades and authentication advancements. Overall, SharePoint promises to increase security for all businesses, particularly those that handle sensitive information.