Vendor Management System
Vendor management system (VMS) is an Internet-enabled, often Web-based application that acts as a mechanism for business to manage and procure staffing services – temporary, and, in some cases, permanent placement services – as well as outside contract or contingent labor.
Typical features of a VMS application include order distribution, consolidated billing and significant enhancements in reporting capability that outperforms manual systems and processes.
In the financial industry due to recent regulations vendor management implies consistent risk classification and due diligence to manage third-party risk. A number of institutions have re-classified or renamed their programs to Third Party Risk Management (TPRM) to align with the verbiage used by the regulatory agencies.
- Vendor management system Integrated computer networking
- Vendor management system Symmetrical, asymmetrical, and NUMA multiprocessing, including clustering
- A distributed file system
- Integrated database features such as RMS and layered databases, including
- Support for multiple computer programming languages
- A standardized interchangeability mechanism for calls between different programming languages
- An extensible shell command language (DIGITAL Command Language)
- Hardware partitioning of multiprocessors
- High level of security
Vendor management system Enterprise-class environments typically select and use Open VMS for various purposes including mail servers, network services, manufacturing or transportation control and monitoring, critical applications and databases, and particularly environments where system up time and data access is critical. System up-times of more than 10 years have been reported, and features such as rolling upgrades and clustering allow clustered applications and data to remain continuously accessible while operating system software and hardware maintenance and upgrades are performed, or when a whole data center is destroyed. Customers using Open VMS include banks and financial Vendor management system, hospitals and healthcare, network information services, and large-scale industrial manufacturers of various products.
The common language programming environment is described in the Open VMS Calling Standard and the Open VMS Vendor Management System Programming Concepts manuals.