The equipment in your company will break down at some point or the other, and you will require spare parts to repair the same. This is when you will turn to vendors to purchase the required parts. Managing vendors and work orders efficiently is crucial for the business. Implementing Computerized Maintenance Management System (CMMS) software will make vendor management easier, faster and more efficient. Let’s see how.

7 Ways CMMS Makes Vendor Management Better

  • Improves Vendor Management Practices

Have you ever wondered how much time your employees waste on retrieving information, searching for forgotten tools and documents, or trying to manage resources efficiently? Managing vendors – one of your key resources, manually, is challenging and time-consuming. Maintenance management software will overcome this challenge by assigning tasks appropriately, maintaining communication records with your vendors and improving the response time.

  • Builds Better Vendor Relationships

CMMS software helps you maintain positive working relationships with your vendors. You can assign the right job to the right vendor and not overload them with the unnecessary rush of work orders. CMMS allows you to gain a transparent view of the current work backlog, which can help you achieve a better work balance with your vendors. You can be sure of not jeopardizing the relationship with a valued vendor partner due to preventable professional complications.

  • Enhances Communication

The CMMS software helps in maintaining clear communication channels between you and your vendors, regardless of whether you are dealing with single or multiple vendors. The work order software allows you to manage different work orders, inventory and assets while communicating with the concerned vendors directly. Communication gets more clear and more consistent. It also helps in simplifying and facilitating quick and accurate communication between various vendors.

  • Speeds up Maintenance Service

Manual processes take up a lot of time, effort and energy. These include tasks such as taking work orders over the phone or exchanging emails, etc. With CMMS, you can switch to automation and speed up these processes, and be assured of enhanced accuracy as well. Hence, the time saved with the help of CMMS can be devoted to enhancing maintenance.

  • Focuses on Preventative Maintenance

You will save a ton of money by implementing solid preventive maintenance strategies. When you ensure that the equipment is well maintained, and there are fewer breakdowns, you will save money on repairs. You can schedule periodical preventive maintenance tasks using the preventive maintenance software. This also ensures that there are no lapses from your team when it comes to undertaking crucial maintenance. According to the National Facilities Management and Technology Conference, you can almost achieve 12-18% monetary savings, by choosing preventive maintenance over reactive maintenance.

  • Better and Accurate Invoicing

Accurate invoicing is imperative to mitigate payment disputes with vendors and customers. Having robust asset management software will ensure that you create the right invoices for the right job, every single time. Moreover, it will also give your vendors the ability to input their work hours and stay informed throughout the payment process. This will help in strengthening your control over the finances of your company.

  • Tracks Vendor Performance

Having the right vendors makes a huge difference for your business. Use CMMS to track the performance of all your vendors and get a detailed report about each of them. This helps you rate each vendor for efficiency, problem-solving, etc., and even for their drawbacks. EAM software helps you track and compare vendors, which is vital for streamlining your workflow.

Thus, there are multiple benefits of implementing CMMS software, when it comes to vendor management. You can enhance professional relationships with them, choose the best ones by tracking their performance and do much more.
We at NEXGEN, offer the best maintenance software support, which can transform your vendor management positively. Get in touch with us today, and get the best out of your vendors in the long run.