A Vendor Tracking System is an efficient way for businesses to monitor, manage and record the activities of their vendors. This system offers visibility and control over all aspects of vendor performance, from onboarding and contracts to invoices, payments and reporting. By tracking data in one centralized location, it can save companies time, money and effort when it comes to streamlining processes and improving accountability. With a Vendor Tracking System, businesses can easily track vendor performance, review purchasing histories and compare prices — all while ensuring compliance with industry regulations.