Managing vendors is never easy. Expectations on both sides are almost always never the same, and over a period of time, the chasm is so wide and deep that it becomes difficult to move on.

The changes in personnel and the regulatory changes have made it mandatory for every company to take an active interest in their vendors’ level of compliance with regulations and standards in their industry. Within the company vendor management is a cost center and tracking compliance of the vendors adds another cost element to it.

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