Glossary of Terms

What is a Vendor Management System (VMS)?

Vendor Management System (VMS) Definition

A vendor management system, or VMS, is a powerful tool that helps organizations keep track of all of their vendor-related activities in one place. By automating time-consuming processes like vendor onboarding, performance tracking, and invoice management, a VMS allows you to focus on building strong relationships with your vendors instead of getting bogged down in administrative tasks.

A VMS is an essential part of any successful vendor management strategy.

Vendor management system definition

Related terms

Vendor onboarding is the process of bringing in new vendors to sell their products or services on the platform.
Multi vendor commerce refers to the concept of multiple vendors selling their products through a single online store.
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