Vendor
Management

Vendor management is the comprehensive process of overseeing supplier relationships throughout their entire lifecycle. It encompasses two key components: operational setup and lifecycle management (onboarding, contracts and negotiation, performance monitoring, renewals, and offboarding), and ongoing administration (managing updates like bank details and tracking compliance documents such as SOC 2 renewals).

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The goal is to create partnerships with key vendors that support business scale with full transparency, safety, and compliance with applicable regulations.

Pivot simplifies vendor onboarding through a self-service vendor portal that can be integrated directly with Purchase Request workflows or set up as a separate process. When a new vendor is needed, you can trigger internal validation and approval steps, or send vendors a link to onboard themselves through the portal. The platform offers fully customizable forms and questionnaires that vendors complete, along with document and certificate uploads. Once vendors fill in the onboarding form, their status is automatically set to "Onboarded" and all their information is updated in your centralized vendor database.

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This automation eliminates manual data entry and accelerates the entire onboarding process.

Pivot ensures vendor compliance through automated document tracking with expiration alerts, customizable forms for gathering certificates during onboarding, and continuous monitoring throughout the vendor relationship. The platform integrates with third-party risk assessment tools to automate risk and ESG scoring, maintains comprehensive audit trails, and provides real-time dashboards to monitor compliance KPIs.