Why is Typical Vendor Spend Data not Useful? Typical spend data is not useful to provide business insight and drive informed decision making. In many large global operations, spend data originates from differe...
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4 Significant Reasons Why Your Business Should Focus on Vendor Management Having vendors or third-party service providers is a necessary part of your business in order to operate and provide the services and/or...
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Here are 5 Ways to Mitigate Risks Posed by 3rd Party Vendors: Vendor Management Solution (VMS) is a discipline that enables businesses to not only cut costs but also: control expenses, drive service excellence ...
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Benefits of Contract Management and Asset/Inventory Control Contract management or Asset /Inventory Control is the management of contracts made with customers, vendors, partners, or employees. Contract manageme...
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Why are Benchmarks Important? Benchmarking is a common business practice and sensible exercise to establish baselines, define best practices, identify improvement opportunities (contract rates and terms) and c...
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Term Modifications. Not only are most service agreements written where they can be changed and modified at any time, but notification of the changes is your responsibility to keep track of. Who is responsible i...