In most conversations, vendors services and products are often interchanged. In M3, each has a specific purpose and value.
Products are catalogue items, assigned to a vendor, that users can select. Each product is categorized to more easily search and group across vendors. Examples of product categories can include software, telecom or support.
A vendor service is when a product is put to use. Services can store hundreds attributes including cost, terms, users and locations. M3 updates service calculations daily and alerts users to when it is time to act or review.