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What is Vendor Management?- Definition & Benefits- LogiTax

Optimize Accounts Payable for Significant Monthly ITC Savings

Manage Working Capital Effectively by Blocking Non-Compliant Vendors

Optimize Accounts Payable for Significant Monthly ITC Savings

Optimize Accounts Payable for Significant Monthly ITC Savings

Manage Working Capital Effectively by Blocking Non-Compliant Vendors

Optimize Accounts Payable for Significant Monthly ITC Savings

Transform all you Vendor processes with LogiTax Automation

Here’s why Choose LogiTax for Account Payable Excellence!

blog header symbolVendor managementblog header symbol

Vendor management

Are You Ready to Tackle These Vendor Management Challenges that impact on your Business?

Challenges in Vendor management
Dealing with Constant Changes
  • Keeping Up with Vendor Updates
  • Efficient Tracking Despite Changes
Navigating Compliance Complexity
  • Real-time Monitoring Challenges
  • Reducing Risks in Compliance
Addressing ITC Issues
  • Handling Inactive Vendor Concerns
  • Fixing Invoice Errors and Discrepancies
Changes and Impact
Impacts on Businesses
Financial Challenges
  • Dealing with Cash Flow Interruptions
  • Handling Unexpected Liabilities
Operational Struggles
  • Wasting Resources on Manual Checks
  • Maintaining Vendor Relations Under Pressure
Compliance Stress
  • Facing Increased Risk of Notices
  • Securing ITC Claims

Get started with the Best Vendor Management Software!

Real Time Updates

Real-Time Updates

Get real-time updates on vendor return filing status. Easily check if vendors are compliant, in default, or non-compliant for seamless business processes.

Bulk GSTIN verification

Bulk GSTIN Verification

Save time with one-click verification of over 1000 vendors, eliminating manual checks on the GST portal.

transaction tracking

Transaction Tracking

Efficiently track vendor performance with the latest purchase transactions for transparent relationships. Verify if vendors are eligible for generating IRN.

vendor risk rating

Vendor Risk Rating

Make informed decisions by evaluating vendor risk through credit mismatches and disputes. Also, Vendors are labelled based on their risk level.

real time compliance monitoring

Real-Time Compliance Monitoring

Streamline tax credit processes by monitoring and maintaining a compliant vendor base in real-time.

tailored notifications

Tailored Notifications

Set filing preferences based on vendor frequency—monthly or quarterly—for precise and timely communication.

Vendor Payment Hold

Vendor Payment Hold

Are These Vendor Payment Challenges Holding You Back & leading to delayed payments?

Challenges in Managing Vendors Payments
Partial Payment Dilemma
  • Difficulty in Holding Specific Amounts
Manual 3B Filing Status Checks
  • Time-Consuming Verification Process
Inactive GSTIN Challenges
  • ITC Loss Due to Inactive Vendor GSTINs
Generic Hold Practices
  • Unnecessary Holds Impacting Vendor Relations
Impacts on Businesses
Financial Rigidity
  • Restricted Cash Flow
Operational Inefficiency
  • Time-Intensive Processes
ITC Loss
  • Inadvertent Losses Due to Inactive GSTINs

Get started with the smart payment hold software solution!

flexible payment hold

Flexible Payment Holds

Customize hold percentage, avoiding full invoice amount hold.

3B filing staus consideration

3B Filing Status Consideration

Save time by checking vendor GSTR-3B status in bulk for payment decisions

hold payment for canceled GSTIN

Hold Payments for Canceled GSTIN

Efficiently hold payments when vendor GSTIN status is canceled.

release payment strategically

Release Payments Strategically

Release payments based on supply type, zero tax value, or reconciliation category.

improve bussiness relationships

Improve Bussiness Relationships

Avoid unnecessary holds, fostering better relationships with vendors.

Vendor Follow-up

Vendor Follow-up

 Are These Vendor Follow-Up Challenges affecting your Operations & impacting your business?

Configurability Gaps
  • Lack of configurability and tolerance in follow-up settings.
  • Inefficient vendor tracking leading to delays.
Manual Amendments
  • Manual handling of follow-up amendments.
  • Potential compliance issues due to manual verification.
Communication Gaps
  • Absence of comprehensive follow-up history.
  • Transparency and accountability gaps in vendor communication.
Email Inefficiency
  • Limited customization in email communication.
  • Ineffective follow-up efforts impacting response rates.
Tracking Limitations
  • Absence of a centralized dashboard for vendor tracking.
  • Inefficient prioritization in vendor follow-up actions.
Communication Delays
  • Delayed responses in vendor communication.
  • Communication gaps affecting efficient follow-up processes.
Compliance Risks
  • Increased risk of compliance issues.
  • Ineffective handling of follow-up amendments.
Documentation Concerns
  • Lack of documentation for future reference.
  • Transparency and accountability concerns in vendor relations.

Discover Seamless Vendor Follow-Up Solutions with LogiTax!

set followup configuration

Set Follow-up Configuration

One-time setup with customizable tolerance limits for efficient vendor tracking.

reconciliation of amendments

Reconciliation of Amendments

Verify changes in GSTR-2A, mark as "resolved" for prompt discrepancy resolution.

history of follow-ups

History of Follow-ups

Maintain a transparent record of all follow-ups, promoting accountability and communication.

customised email drafts

Customized Email Drafts

Personalize communication with vendors, improving follow-up effectiveness.

dashboard of tracking

Dashboard for Tracking

Prioritize vendors and documents efficiently with a dashboard view.

Tailored Vendor Solutions for Diverse Needs

Best vendor management software to streamline all your vendor process

Chartered Accountants
Chartered Accountants (CAs)
Automated GSTIN Verification
  • Effortless Bulk Verification of GSTIN Status.
  • Real-Time Return Filing Updates for Informed Decision Making.
Compliance Monitoring and Risk Assessment
  • Real-Time Assessment of Vendor Risk Ratings.
  • Ensure Maximum ITC Availment through Automated Compliance Tracking.
Simplified Follow-Up Configuration
  • One-Time Configuration for Follow-Up Settings.
  • Customizable Tolerance Limit for Efficient Vendor Tracking.
ERP Partners
Seamless Integration with ERP Systems
  • API Integration for Real-Time Communication.
  • Automated Reconciliation of Invoices against GSTR-2A.
Smart Payment Hold Decisions
  • Consideration of GSTR-3B Filing Status for Time Savings.
  • Flexible Hold Criteria for Partial Holds based on Different Factors.
Centralized Dashboard for Vendor Management
  • Efficient Tracking of Vendors and Documents.
  • Enhanced Prioritization for Streamlined Follow-Up Actions.
ERP Partner
for corporates
For Corporates
Vendor Transaction History for Performance Assessment
  • Efficient Tracking of Last Purchase Transactions.
  • Transparent Business Relationships through Real-Time Transaction Data.
Customizable Payment Holds for Working Capital Management
  • Tailored Payment Holds Based on Specific Criteria.
  • Automatic Payment Hold Decisions for Non-Compliant Vendors.
Real-Time Compliance Monitoring
  • Ensure Maximum ITC Availment through Automated Compliance Tracking.
  • Vendor Risk Assessment for Informed Decision-Making.
For SMEs (Small and Medium Enterprises)
Cost-Efficient Vendor Management Solutions
  • Save Time and Resources through Automated Processes.
  • Minimum 15-20% Savings on ITC Monthly.
User-Friendly Interface for Easy Adoption
  • LogiTax's Intuitive Interface for Hassle-Free Operations.
  • Deep ERP Automation for Seamless Identification of Non-Compliant Vendors.
Automated Payment Control for Working Capital Optimization
  • Block Non-Compliant Vendors' GST Amounts for Effective Working Capital Management.
  • Smart Payment Holds for Preventing Inadvertent ITC Loss.
for SME
Chartered Accountants
Chartered Accountants (CAs)
Automated GSTIN Verification
  • Effortless Bulk Verification of GSTIN Status.
  • Real-Time Return Filing Updates for Informed Decision Making.
Compliance Monitoring and Risk Assessment
  • Real-Time Assessment of Vendor Risk Ratings.
  • Ensure Maximum ITC Availment through Automated Compliance Tracking.
Simplified Follow-Up Configuration
  • One-Time Configuration for Follow-Up Settings.
  • Customizable Tolerance Limit for Efficient Vendor Tracking.
ERP Partner
ERP Partners
Seamless Integration with ERP Systems
  • API Integration for Real-Time Communication.
  • Automated Reconciliation of Invoices against GSTR-2A.
Smart Payment Hold Decisions
  • Consideration of GSTR-3B Filing Status for Time Savings.
  • Flexible Hold Criteria for Partial Holds based on Different Factors.
Centralized Dashboard for Vendor Management
  • Efficient Tracking of Vendors and Documents.
  • Enhanced Prioritization for Streamlined Follow-Up Actions.
for corporates
For Corporates
Automated GSTIN Verification
  • Effortless Bulk Verification of GSTIN Status.
  • Real-Time Return Filing Updates for Informed Decision Making.
Compliance Monitoring and Risk Assessment
  • Real-Time Assessment of Vendor Risk Ratings.
  • Ensure Maximum ITC Availment through Automated Compliance Tracking.
Simplified Follow-Up Configuration
  • One-Time Configuration for Follow-Up Settings.
  • Customizable Tolerance Limit for Efficient Vendor Tracking.
for SME
For SMEs (Small and Medium Enterprises)
Cost-Efficient Vendor Management Solutions
  • Save Time and Resources through Automated Processes.
  • Minimum 15-20% Savings on ITC Monthly.
User-Friendly Interface for Easy Adoption
  • LogiTax's Intuitive Interface for Hassle-Free Operations.
  • Deep ERP Automation for Seamless Identification of Non-Compliant Vendors.
Automated Payment Control for Working Capital Optimization
  • Block Non-Compliant Vendors' GST Amounts for Effective Working Capital Management.
  • Smart Payment Holds for Preventing Inadvertent ITC Loss.

Streamline Accounts Payable for Smooth and Simple Payment Processes

Elevate Efficiency with LogiTax: Your Ultimate Vendor Management System!

seamless integration

Seamless Integration

Effortless integration with ERP systems for streamlined processes.

real time compliance

Real-Time Compliance

Stay ahead with automated compliance monitoring and risk assessment.

customizable

Customizable Solutions

Tailored vendor management options for diverse business needs.

time and cost savings

Time and Cost Savings

Automated processes save valuable time and resources.

working capital optimization

Working Capital Optimization

Smart payment control for effective working capital management.

transparent vendor relationships

Transparent Vendor Relationships

Smart payment control for effective working capital management.

user friendly interface

User-Friendly Interface

Intuitive design for easy adoption and efficient operations.

proactive issue resolution

Proactive Issue Resolution

Identify and resolve issues before they impact financial stability.

Ready to get started?

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FAQs

Vendor management involves overseeing relationships with suppliers to ensure efficiency, compliance, and positive collaboration in business transactions.

Effective vendor management streamlines processes, reduces costs, and enhances transparency, ensuring a smooth and productive supply chain.

A Vendor Management System is software that helps businesses manage and optimize their interactions with suppliers, automating various aspects of the vendor relationship.

Vendor management software improves efficiency, ensures compliance, and fosters better relationships with suppliers. It automates tasks related to vendor interactions.

Accounts Payable refers to the amount a company owes to its suppliers and vendors for goods and services received but not yet paid for.

Automation in accounts payable reduces manual efforts, minimizes errors, and streamlines processes, leading to significant cost savings.

Top vendor management systems include LogiTax, offering comprehensive solutions for effective vendor management, payment hold & follow-up and complete accounts payable automation.

LogiTax enables real-time compliance monitoring, vendor risk assessment, and automated payment controls to ensure adherence to vendor compliance standards.

Yes, LogiTax allows flexible payment holds based on criteria like tax, invoice amount, and reconciliation category, providing a customizable approach.

LogiTax offers a one-time follow-up configuration, reconciliation of amendments, and a centralized dashboard for efficient vendor tracking, reducing delays and improving communication.

LogiTax provides a cutting-edge solution that saves costs, ensures compliance, and enhances vendor relationships through streamlined vendor management and accounts payable processes.

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