What do you like best about the product?

Keeping track of vendors and when they renew was becoming hard to manage. Vendr gives us a platform to track and store all this information, The Vendr rep helps us get through the procurement process and requests all due diligence and other documentation for security and legal reviews. They then store the contracts and track when the vendor will renew. They also helped us define what we want from vendors and to refine the internal workflow used to help track the process.

What do you dislike about the product?

Although Vendr overall does a nice job helping us negotiate, tracking documentation, and recommending procurement standards, I still need to track what is going on and clearly state what I want with each contract. This may also include getting involved with the negotiation to help push the vendor pricing down a little more. Vendr helped us develop a procurement process and gave us a tool to manage it but this development was tedious.

What problems is the product solving and how is that benefiting you?

Vendor management was getting hard to track. We lacked the sophistication to fully understand what terms we could request from our vendors including no auto renew. Vendr helped us to establish a protocol of requests we make now for every vendor transaction. Vendr provides a workflow where we can track the negotiation process, store the security and legal documentation, including contracts, and to track renewal dates. Occasionally we used to have a vendor with an auto renew clause that would renew without our knowledge until after the fact. Because of Vendr's recommendations, we no longer accept contracts with auto renew and because Vendr is tracking and reminding us about renewal dates, we never miss the opportunity to renegotiate contracts. In addition we have been able to take advantage of Vendr dollars for some purchases. This allows a rebate of some of the money initially paid for the services.