Managing multiple information systems simultaneously without the advantage of seamless integration can be a risk. Disjointed systems and processes within your IT organization lead to workflow disruptions, communication snags, and the potential for human error.

Vendor management tools enhance efficiency, stability, and security by integrating contract management, procurement tools, purchasing processes, and more, into one cohesive service desk solution. Ultimately, this saves time and money, streamlines workflows, and helps you deliver solutions with greater efficiency and speed.

In this article, we discuss top vendor management tools for IT professionals, features available, and pricing options to help you manage your organization’s IT infrastructure with confidence and ease.

Why You’d Want to Use Vendor Management Software

Integrating vendor management functionality with your chosen IT service desk solution can help your organization in several ways. By using a comprehensive solution, you can:

• Eliminate the need to learn about, train on, deploy, and maintain multiple separate solutions.
• Deal with only one service company to manage the different IT segments of your business instead of several.
• Facilitate access to data, such as vendor contact information, software licenses, and other information, all within one application.
• Safeguard data integrity through seamless integration.
• Centralize your services, requests, and workflows to deliver fast, reliable service to end users.

Opting for a service desk with vendor management functionality puts essential tools in reach, simplifying workflows and streamlining operations. Process automation can save time and improve compliance and standardization across the organization. Customization features let you quickly access the information you need, when, and how you need it.

4 of the Best Vendor Management Software For IT Organizations

Your service desk provider should have a solid reputation in customer service, comprehensive solutions for your IT management, and a commitment to continual growth, developing the tools you’ll need tomorrow. Here is a list of four of the best software options to consider for vendor management tools for IT services. 

1. SolarWinds Service Desk

With SolarWinds^® Service Desk vendor management tools, you can set up custom processes that conform to the way your organization operates, not the other way around. You can also streamline tasks with automation options that help you save time and ensure compliance.

Service Desk is a cloud-based solution that focuses on your business with fully integrated services, leveraging the latest technologies to meet end users’ needs with speed and efficiency.

Key features include:

• Incident management that puts you in control of incoming tickets, open to close
• A mobile app to stay current and help you prioritize work while on the go
• IT asset management for hardware, software, and more
• A service portal for easy access to resources and ticket submission and tracking
• Knowledge base functionality to facilitate self-service solutions and save time
• Contract management to stay on top of expenses, agreements, and licenses
• Vendor management and procurement tools for third-party contracts and purchases

Service Desk understands today’s IT environments and provides full service with popular integrations and specialized modules to help streamline operations. Its scalability makes it a solid choice for small businesses or large enterprises.

There’s a fully-functional free trial for 30 days. A package including vendor management functionalities currently starts at $69 per month per agent.

2. Freshservice

Freshservice is a cloud-based IT solution that’s touted as easy to set up and use. It includes a contracts management module and an integrated asset management module in their service desk package. You’re able to track vendor data and manage contracts, purchase orders, expiration dates, and more.

Key features include:

• Incident management functionality, that lets you respond quickly to critical issues
• Asset management services that help you keep tabs on your inventory
• Automated workflows to help keep efficiency high
• Contract management options to better manage your working relationships

I think Freshservice pricing tiers may exclude smaller businesses looking for a vendor management tool to integrate with their help desk solution. There’s a free 21-day trial. The Pro and Enterprise tiers include vendor management tools, and month-to-month pricing is $109-$129 per agent, with annual contract discounts available.

3. HaloITSM

HaloITSM (previously NetHelpDesk) offers a cloud-based IT solution to help you monitor workflows and manage communication. Its focus is to help you standardize processes and deliver resolutions quickly. It offers both on-premises or hosted packages.

Key features include:

• Incident management, letting you respond quickly regardless of the issue
• Knowledge base functionality, that gives both users and support staff helpful articles
• A self-service portal, which lets the user potentially solve their own issues
• Contract management to help keep all relevant information in one place
• Inventory management to better log and administer to your assets

There’s a free 30-day trial available. However, annual prepayment is required and may limit this solution to organizations that don’t need the payment flexibility of a month-to-month plan.

Pricing is based on the number of agents. Up to 3 agents, you’ll pay $65 per month, per agent, billed annually. Up to 50 agents, the cost is $44 per month, per agent, billed annually. There are other tiers available, depending on the number of agents required.

4. Vision Helpdesk

With a focus on automated processes, Vision Helpdesk’s Service Desk option includes asset and vendor management tools to help streamline IT organizations. It’s available in both subscription and download or on-premises licenses. Licensing options include annually recurring or a one-time license fee.

Key features include:

• Incident management features to let you respond as quickly as possible
• Service catalog options to help the user choose the right product or service
• Asset management to enable you to monitor your company hardware and software
• Contract management, centralized to let you manage contracts effectively
• Knowledge base features that give users and support staff guidance to troubleshoot issues

As with other solutions, there’s a free 30-day trial available. Pricing for Software as a Service (SaaS) Pro and Enterprise tiers (including vendor management tools) is $40–$60 per agent month-to-month, with an annual contract discount available.

Conclusion

Separate systems and processes within your IT service infrastructure cost time and money, which can cause workflow disruption and communication snags. They also increase the potential for human error, as users are required to switch between applications to complete tasks. Even something as simple as looking up a phone number can delay service resolution.

A comprehensive service desk with integrated vendor management functionalities brings asset management, contract management, purchase orders, and other procurement tools together within one solution. The best service desk vendor management solutions help your IT organization manage the complexities of today’s information environment and provide quick resolutions to end-users.