Vendor Management Solutions manage potential supplier risk whether in terms of unforeseen cost implications or regulatory compliance. VMS provides businesses with a clearer view into the unpredictability of billing and vendor costs that can result in lost profits when not managed.

Increased Efficiencies with Document Management: A vendor management solution increases overall efficiencies in the form of improved security of confidential files. If a business does not have the appropriate means to safely secure files, VMS tools provide a safe document management service for confidential information, agreements, terms, licensing agreements, inspection reports and more.

Reduced Costs: Vendor management is more than getting the lowest price. The key is for both sides to align on what constitutes a good value. When you have increased visibility, you can see invisible costs which results in better control in order to save.

Corporate Compliance: VMS manages business contractual compliance, which includes a standardization of all billing processes. This process includes bill rate standardization and management. Once you have a supplier active in a vendor management system, you can track and measure performance against the contract to ensure that the company is meeting your needs and complying with your requirements.

Industry experts argue that it is necessary for businesses to put in place a quantifiable contract compliance performance metrics to achieve the types of savings opportunities that best-in-class organizations realize on a daily basis.

Eliminating purchases made within an organization that are not in compliance with negotiated contract terms reduces wastes and can reduce costs. Structured vendor management implementation results in vendor fraud reduction and has an immediate impact on vendor processes and visibility into unnecessary spend. Quantifiable measurements for compliance help to identify these underperforming segments.

Monitor and Track Performance: The data and analytics you receive from tracking performance can signal challenges before they become problems and identify areas that may need improvement. Robust analytics provide unique visibility into vendors, expenses, budgeting and profits. The ongoing fully managed process magnifies ROI results.

The most important success factor of vendor management is to share information and priorities with your vendors. Vendor management tools can also be found to enhance items such as requisitions, approvals, expense management, payment and reporting. Overall, processes run smoothly when managed by a VMS team that is dedicated to ensuring both parties (business and vendors) meet all requirements of a contract.

Contact LIMITLESS today for a FREE CONSULTATION to discover how to get control of your unmanaged spend, reduce expenses and implement a vendor management solution in your business.

Nationwide: 866-504-4050

VoIP, or Voice-over-IP (Internet-Protocol), is a better and more affordable way for businesses to communicate. Using high-speed Internet connections to make and receive phone calls, our business phone systems offer features unavailable with traditional phones – and can save you money on long-distance and international calls.  All businesses who take advantage of VoIp Phone Systems will see significant benefits including:

Cost-effectiveness–
VoIP Phones utilize your current computer network and avoids the infrastructure costs associated with the purchase and maintenance of a separate voice communication systems. VoIP systems provide companies with quality phone systems and all the typical phone features without requiring investments into expensive hardware. You no longer need to purchase or lease costly hardware nor wait for wiring to be installed. VoIP helps companies to avoid those stressful moments spent reviewing monthly telephone bills filled with erratic and unpredictable charges. Maintenance costs are also included in your contracted monthly service payments thereby decreasing the operating costs associated with traditional phone systems.

Continuity–
VoIP provides continuous service and will remain operational despite electrical outages or other forms of service interruption. If your organization losses its’ connection all communication can be routed to another location or phone. Our VoIP system also provides consistent, predictable fees that are negotiated to include local, long distance and the chosen phone service features.

Consistency–
Using a Cloud-based/Hosted VoIP solutions will provide consistency in your business communications. VoIP systems will integrate your email system with your phone system. This allows all users to obtain voicemails in the emails and emails in their voicemail.

Centrality–
The Cloud based dashboard  allows you to easily connect all your business locations into one central system. Everyone is connected no matter how many offices you have, have many physical locations are involved or how many clients you have overseas.

“The service covered virtually every facet of our telecom usage and cost spectrum, including, local and long distance land lines, conference calling, cell phones, and broad band services and phone systems and internal telecom management”.

“Our companies had grown rapidly and as a result of acquisitions, we inherited different phone systems, a myriad of circuit contracts and disparate telecom systems. We had the sense that we had a bit of a mess on our hands but didn’t quite know where to start to sort out our telecom usage and expense management”.

“We saved approximately $900,000 or 25% of our total telecom spending of $3.6 million. Limitless was professional, efficient and minimally disruptive to our staff. We’d highly recommend them to any company that spends significant dollars on telecom services”.

Executive Vice President
Health Care Management Company

At LIMITLESS we are your trusted partner and understand how to best help our Clients reduce costs, while ensuring you stay highly effective and efficient with your services. We strive daily to help you become more financially sound, putting more money back in your wallet. The average savings we find our clients is between 17% – 36%.

We have saved companies tens of thousands and even in some cases millions on their telecom, utility and vendor expenses with our proven cost reduction process.

At LIMITLESS we use our Powerful Process to identify cost savings, improving and negotiating contracts, finding billing errors and recovering billing errors. Our Proven Results allow our Clients to reinvest the “savings” into growth initiatives or apply these “found profits” to their bottom line.

Our clients realize that they derive the most benefit by concentrating their efforts on their core service or product. Most business people simply do not have the time or in-house expertise to analyze technology, suppliers and pricing alternatives.

Contact LIMITLESS today for a FREE CONSULTATION to discover how to get control of your unmanaged spend and reduce expenditure on business services.

Other Ways to Connect with Us.

Request more info: http://limitlesstechnology.com/contact-us/
Facebook: https://www.facebook.com/limitlesstech
Linkedin: https://www.linkedin.com/company/limitless-technology

If you have a smartphone with a data plan, you’ve likely gotten that dreaded text alert warning you about reaching your monthly gigabyte limit. When this happens, your data slows to a trickle unless you pay an overage fee.

Even with the best cell phone plan, many of us exceed our data limit. A 2015 Pew Research Center survey found that 37% of smartphone owners use their maximum amount of monthly data at least occasionally, while 15% do so frequently. Those who did go over during one month or more in a year collectively paid their carriers at least an additional $600 million, according to an analysis by NerdWallet and smartphone app My Data Manager, which helps users keep track of their data consumption.

Carriers making changes

Consumers don’t like paying for their data overages, and wireless carriers are listening. In 2014 and 2015, respectively, T-Mobile and Sprint began offering unlimited plans that cut overage fees in favor of slower 2G data once the caps are reached. Over the summer, Verizon and AT&T, the nation’s two top carriers by number of customers, also rolled out plans that trade overage fees for slower data speeds, known as throttling.

If you have a so-called legacy plan, meaning you haven’t switched to one of the new plans, it’s likely you’re still subject to overage fees at the two top carriers. But the study, using data from My Data Manager, found that for the majority of consumers, switching to the new, usually larger data plan isn’t worth it. You’ll typically pay more in higher monthly charges than you would have paid for the occasional overage fee.

To determine this, NerdWallet and My Data Manager looked at the cost of legacy family and individual plans through Verizon and AT&T, and compared them with the new plans. We assumed an average usage of 1.8GB per month for an individual plan and 4.3GB per month for a family plan with an average of 2.4 lines, based on data obtained from My Data Manager. The full methodology can be seen below. Here’s what we found.

The new Verizon and AT&T plans

Verizon and AT&T previously charged overage fees at an average rate of $15 per GB, regardless of the plan. Now, if you activate the “safety mode” in your account preferences for the Verizon Plan, you can avoid data overage fees. After you reach your monthly gigabyte limit, which varies depending on the version of the plan you choose, your data is throttled to 2G speeds instead of getting hit with an overage fee. It’s worth noting this plan allows you to carry over any unused data to the following month only.

AT&T has taken an approach that’s similar to T-Mobile and Sprint with its new Mobile Share Advantage plans. In the event of a data overage, AT&T throttles data to 2G speeds until the next billing cycle, regardless of your plan. It’s automatic, so you don’t have to do anything to avoid overage fees.

When does it pay to switch to the new plans?

If you’re on an average-sized plan and your data overages exceed 8GB per year, choosing one of the new plans will save you money, according to NerdWallet and My Data Manager’s analysis. The individual Verizon Plan will save you money if you have an average plan, even if you never go over your data limit. Otherwise, the new Verizon plans and AT&T’s Mobile Share Advantage plans won’t save you money. In fact, most consumers on legacy plans would be better off sticking to them and paying the occasional overage fee.

Here’s how it breaks down:

Verizon Individual plans

For Verizon individual plan holders who use an average of 1.8GB per month, the Verizon Plan is a better deal. Assuming you were on a legacy 3GB data plan before, you can step down to a 2GB plan, which saves $10 per month over the old pricing. Previously, Verizon only offered 1GB and 3GB options. Activate the safety mode, and presto, no more overage fees — though, if you do go over the data limit, the 2G mode is awfully slow. We’ll discuss that in a moment.

AT&T individual plan holders face a different set of options. For those who exceed their data limit four times or fewer during the year, it’s actually cheaper to pay the overage fees than it is to switch plans, based on the average usage figures we found. This is because consumers who use that average 1.8GB per month and were previously on a 2GB plan would now have to upgrade to a 3GB plan under Mobile Share Advantage — meaning they’d have to pay for an extra 1.2GB that they might not need. (AT&T’s new plans have only 1GB, 3GB or higher options.) And there’s automatic throttling once the data limits are exceeded.

Watch out for throttling

Keep in mind that, for consumers used to 4G LTE data, throttled 2G speed could be problematic, especially for the 10% of Americans for whom their smartphone is their only access to the internet. When you’re using your phone for everything from job applications to paying bills, 2G is very slow. By comparison, browsing 30 webpages would take 2.8 minutes at 2G speed, while doing the same at 4G LTE takes only one second, according to Verizon.

If you’re not sure how much data you’re using, you can analyze your usage with My Data Manager or one of the other apps available, and then evaluate your needs to make sure you have the best cell phone plan for you.

Resource: NERDWALLET: https://www.nerdwallet.com/blog/utilities/what-no-overage-fee-cell-phone-plans-mean-for-you/

At LIMITLESS we are your trusted partner and understand how to best help our Clients reduce costs, while ensuring you stay highly effective and efficient with your services. We strive daily to help you become more financially sound, putting more money back in your wallet. The average savings we find our clients is between 17% – 36%.

We have saved companies tens of thousands and even in some cases millions on their telecom, utility and vendor expenses with our proven cost reduction process.

At LIMITLESS we use our Powerful Process to identify cost savings, improving and negotiating contracts, finding billing errors and recovering billing errors. Our Proven Results allow our Clients to reinvest the “savings” into growth initiatives or apply these “found profits” to their bottom line.

Our clients realize that they derive the most benefit by concentrating their efforts on their core service or product. Most business people simply do not have the time or in-house expertise to analyze technology, suppliers and pricing alternatives.

Contact LIMITLESS today for a FREE CONSULTATION to discover how to get control of your unmanaged spend and reduce expenditure on business services.

Other Ways to Connect with Us.

Request more info: http://limitlesstechnology.com/contact-us/
Facebook: https://www.facebook.com/limitlesstech
Linkedin: https://www.linkedin.com/company/limitless-technology

If you are serious about reducing risk and building a sustainable business then it pays to look for ways to take control of your fixed spend. Those people in your company who are responsible for ensuring expenses are effectively reviewed and bills are paid in full are in fact correct without question meaning no harm, of course; but without minimal oversight, they could potentially do a lot of harm!

The demands on today’s Chief Procurement Officers (CPOs) continue to escalate and the expectation of doing more with less is a constant, regardless of industry or customer base.

Deloitte’s Global CPO Survey for 2016 revealed a wealth of information about – and for – today’s CPOs, but one statistic that really stood out was the claim that 74% of CPOs see cost reduction as their number one priority. A study by PwC also found that approximately 50% of CEOs see cost reduction as a key strategic driver this year, too.

But this doesn’t seem to match the actions of many enterprises. There are still a substantial number of organizations lacking a comprehensive spend management strategy, indicating that their commitment to cost reduction is inefficient, sporadic or non-existent, regardless of what the executives say.

As much as 20% of an organization’s overall spend is unmanaged. So for an organization with an overall annual spend of $3 billion, some $600 million of this spend is uncontrolled and unregulated.

If C-Level Executives alike continue to allow such a vast amount of spend to be allocated with little or no oversight and control, how will they really be able to reduce costs and achieve savings? And how can cost reduction really be a top priority if this unmanaged spending is being allowed to continue?

Combating the Cost Reduction Paradox

If you’re looking to set yourself apart from the rest of the pack, and improve profitability and productivity in your enterprise, it’s imperative that you focus on a comprehensive spend management strategy that includes every aspect of your overall spend, with a goal of achieving 100% managed spend. It’s not just a procurement pipedream – it can be realized by working with the right team and the right tools, and effectively measuring your systems and progress.

Where to Start …

Spend Analysis

Every spend management program has to have a starting point, and a thorough spend analysis program will enable you to measure where you are today, as well as mark your progress as you implement your spend management program. A spend analysis enables you to share your success with the rest of the organization, and is an important part of creating an effective environment that you can duplicate as needed.

At LIMITLESS we are your trusted partner and understand how to best help our Clients reduce costs, while ensuring you stay highly effective and efficient with your services. We strive daily to help you become more financially sound, putting more money back in your wallet. The average savings we find our clients is between 17% – 36%.

We have saved companies tens of thousands and even in some cases millions on their telecom, utility and vendor expenses with our proven cost reduction process.

At LIMITLESS we use our Powerful Process to identify cost savings, improving and negotiating contracts, finding billing errors and recovering billing errors. Our Proven Results allow our Clients to reinvest the “savings” into growth initiatives or apply these “found profits” to their bottom line.

Our clients realize that they derive the most benefit by concentrating their efforts on their core service or product. Most business people simply do not have the time or in-house expertise to analyze technology, suppliers and pricing alternatives.

Contact LIMITLESS today for a FREE CONSULTATION to discover how to get control of your unmanaged spend and reduce expenditure on business services.

Other Ways to Connect with Us.

Request more info: http://limitlesstechnology.com/contact-us/
Facebook: https://www.facebook.com/limitlesstech
Linkedin: https://www.linkedin.com/company/limitless-technology

The most expensive thing most Americans own, after their house, is their car. On average, Americans spend 5% of their income on purchasing a car. Another 5% goes towards on-going maintenance and insurance costs.

Fuel prices might be at a low point, but fuel economy remains one of the main drivers for new car buyers when they’re shopping around. The most economical cars on sale today are far ahead of the market’s fuel efficiency champions of 5 years ago with a combined cycle mpg figure of 85mpg required to get a car into the top 10.

The sticker price on your car is only the beginning of what it really costs to own that auto — something that savvy shoppers should take into account when considering whether they got a deal or not.

From the US Department of Energy the 2017 Hyundai Ioniq (electric) can travel 124 miles on electricity. You Save $3,750 in fuel costs over 5 years compared to the average new vehicle. Annual fuel cost is $500. The Hyundai gets a whopping 136 combined city/highway.

Do you know how FUEL EFFICIENT your vehicle is?

USE THIS CALCULATOR …

https://www.fueleconomy.gov/feg/bymake/bymanuNF.shtml

Do be aware, however, that the most fuel-efficient versions are not always the most cost-effective overall. If you don’t do many miles a cheaper, thirstier rival may still cost less to own, and diesel repair bills can be higher as the engines are typically more complex. So economy is just one factor to consider, but it can be a big one.

Repair costs and fuel costs mean that budget-conscious consumers need to look well beyond the sticker price when buying a new car. “If I could tell consumers one thing when evaluating a car to purchase, it’s that a car that might have a higher initial purchase price could end up being a better deal for your pocketbook over the next five years,” says Dan Ingle, vice president of vehicle valuations for Kelley Blue Book. That’s because depreciation, fuel costs, insurance and other variables can make the costs to own even very similar cars very different.

But, of course, people usually buy a car based not just on cost, but also on their car preferences.

At LT~CRS we understand how to best help Clients save money, while ensuring you stay highly effective and efficient with your services. We strive daily to help you become more financially sound, putting more money back in your wallet.

We have saved companies tens of thousands on their telecom and utility expenses with our proven cost reduction process. The results from the LT~CRS Process allow our Clients to reinvest the “savings” into growth initiatives or apply these “found profits”  to their bottom line.

www.limitlesstechnology.com

Nationwide: 866-504-4050. Call us. We will answer the phone!

Request more info: http://limitlesstechnology.com/contact-us/
Facebook: https://www.facebook.com/limitlesstech
Linkedin: https://www.linkedin.com/company/limitless-technology

1. Know your strategic costs. You should understand the things that make and save the most money and try to aggressively cut everything else. Costs directly linked to product quality, excellent customer service, profitable new sales or your defined competitive edge are strategic. You should consider everything else overhead.

2. Review all expenses and costs. According to a study of the 80 most productive companies in the world in the book Less Is More: How Great Companies Use Productivity as a Competitive Tool in Business, profit-oriented executives ask one simple question before they make any decision: “What’s the good business reason to do this?” If there’s no easy answer to this question, reconsider those costs.

3. Embrace Technology. Take a look at your current administrative processes and identify areas that could be automated using technology, instead of manpower. The business world is changing rapidly and keeping up with the latest advancements by harnessing technology will result in significant reduction of operational costs.

4. Create a monthly budget, and stick to it. You can’t manage what you can’t measure. Although two-thirds of owners agree they are responsible for cost control, many don’t have monthly budgets, according to a report of small business owners by the National Foundation of Independent Business. According to Bob Fifer, the author of the book Double Your Profits, if you want to save a lot of money in very little time, set a budget. It can save you a significant amount of money every month.

5. Lower Marketing Costs. Traditional forms of marketing are costly and outdated. You should leverage the power of internet to reach out to millions of users online. As you might already be aware of, there are both free and paid advertising opportunities available online. Instead of hiring a marketing agency, you can make use of free classifieds websites and cheap CPC advertisements to promote your business. Not only it would come out cheaper, but also be more targeted and effective.

6. Bid out costs regularly. Any cost that does not go out for bid is a wasted cost-saving opportunity. Don’t accept price increases without seeking competitive bids. Even telling a supplier you are considering putting work out to bid can generate cost-saving ideas.

7. Automate expense controls. You can better control most of your company’s expenses by spending a little time using basic online banking tools and controls. Set the authority to approve all expenditures, and restrict others using automated entitlements, authorization and spending limits, particularly for strategic or high-value expense categories.

8. Customer Support. Every business deals with customers and customer support is one area that nobody can afford to ignore. Having said that, maintaining a customer support team of your own can be a costly affair. Add to that the cost of recruitment and training. That’s why the majority of small businesses prefer to outsource customer support activities to an external vendor.

9. Got a happy customer? By telling others what they’ve gained from using your products or services in presentations or informal conversations, your sources can encourage others to use your products or services.

10. Make experience count. Get free or low-cost help-and give local college students a chance to learn the ropes-by hiring interns.

11. Join an association. Many trade and business associations have reasonable membership fees and offer discounts on everything from insurance, travel and car rental to long-distance phone service, prescriptions and even golf course fees.

12. Get an Audit performed on your Telecom and Utility Billing. According to a study by Aberdeen, “…few enterprises have had a comprehensive and accurate way to determine what they are spending on telecom and utility services, with whom and why.” The study also notes that 85 percent of mid-market companies pay their telecom bills in full without auditing and 75% of organizations have errors or savings opportunities on their utility bills.

When you need to improve your business telecom and utility infrastructure or implement new business cost reduction processes, having an expert outside point of view can often be critical for the best outcomes. Call for a FREE consultation LT~CRS NATIONWIDE: 866-504-4050. And Yes…we WILL call back!

At LIMITLESS we are your trusted partner and understand how to best help our Clients reduce costs, while ensuring you stay highly effective and efficient with your services. We strive daily to help you become more financially sound, putting more money back in your wallet. The average savings we find our clients is between 17% – 36%.

We have saved companies tens of thousands and even in some cases millions on their telecom, utility and vendor expenses with our proven cost reduction process.

At LIMITLESS we use our Powerful Process to identify cost savings, improving and negotiating contracts, finding billing errors and recovering billing errors. Our Proven Results allow our Clients to reinvest the “savings” into growth initiatives or apply these “found profits” to their bottom line.

Our clients realize that they derive the most benefit by concentrating their efforts on their core service or product. Most business people simply do not have the time or in-house expertise to analyze technology, suppliers and pricing alternatives.

Contact LIMITLESS today for a FREE CONSULTATION to discover how to get control of your unmanaged spend and reduce expenditure on business services.

Other Ways to Connect with Us.

Request more info: http://limitlesstechnology.com/contact-us/
Facebook: https://www.facebook.com/limitlesstech
Linkedin: https://www.linkedin.com/company/limitless-technology

Maybe Businesses could learn something from Shoppers about truly reducing expenses and saving money.While we know that every year there are millions of shoppers that run to stores either on Black Friday or jump online on Cyber Monday and some go to the extreme to camp outside store for days … how much are they really saving? We did some research “since we are the cost reduction experts” and we found that more than 154 million consumers shopped in stores and online over the weekend, which was about 3 million more than last year, according to a National Retail Federation survey released Sunday.

But the NRF, which tracks consumer visits and spending data, said those consumers also spent about $10 less on average — about $290 this year compared to nearly $300 in 2015.

NRF officials attributed the difference mostly to heavy discounting brought on by a “promotional environment” in stores. According to the organization, about 36% of shoppers this year said all of their purchases were on sale, compared to 32.5% last year.

It is nothing new that people delight in saving money and reducing cost for expenses. So we wake up early, or stay out late, wait in lines, push through crowds and then we reap the benefits.

In business, we should also reap the benefits of savings. And we have good news! You don’t have to fight the crowds or camp outside waiting for the doors to open. It is much easier to reduce costs within your business. While shopping for personal savings you may want to consider what you may be overpaying within your organization. Ways of overspending include, but are not limited to overcharges in your telecom billing, errors in billing which is very common, duplication of fees, incorrect taxation, 3^rd party fees, usage mistakes, utility metering errors,  and more.

Your telecom and utility expenses cover a large portion of your operating expenses. Overlooking what you are spending in any of these areas could be costing you every month. Not having the time to research in depth your bills, contracts or agreements is a big issue for most companies. Misappropriated fees, rates and bad contract terms mean more money is taken from your business.

So while we feel that it is always a good idea to find ways to SAVE MONEY – we challenge you to take the same approach to your Business Savings as you may to your Holiday Savings. Before the end of the year take time to investigate these savings and see how much you can save.

We understand if you don’t have the time. That is OK – It’s an easy phone call or email and we will provide a FREE CONSULTATION on how to address these telecom and utility costs. See – you are already saving!

www.limitlesstechnology.com

Nationwide: 866-504-4050. We will answer the phone!

Request more info: http://limitlesstechnology.com/contact-us/

Facebook: https://www.facebook.com/limitlesstech

Linkedin: https://www.linkedin.com/company/limitless-technology

1. Look at your initial contract. A good place to start to see what you initially contracted with the provider.
2. Look through the bill and check off those items that make sense and you feel are correct and should be paying.
3. Highlight any other charges that do not have an explanation (misc. charges, other services, 3rd party charges etc…)
4. Contact your provider and review those items over the phone and get an explanation for each item. If it can’t be explained asked for it to be removed.
5. If there are any 3rd party charges that you were not aware of have those removed.
6. REPEAT each month. Unfortunately, charges sometimes continue to reappear.

Just a few simple steps can make a big impact on your P&L, however, if you feel that you need more assistance in reviewing contract, billing and optimize go-forward contract rates – or if you have any questions please call LT~CRS for detailed analytical processes, efficient procedures and proven best practices for many clients – over many years.

Call for a FREE consultation LT~CRS NATIONWIDE: 866-504-4050. And Yes…we WILL call back!

SOMETIMES BUSINESS FEELS LIKE WAR. READ MORE HERE.

Make sure your investing in timely decisions that end up saving your company money and, in the long run, winning you company investors and business. Making quick decisions can stop your company’s bleeding (money loss) before it leads to more serious problems that could affect your company’s long term health.

Call for a FREE consultation LT~CRS NATIONWIDE: 866-504-4050. And Yes…we WILL call back!

 

 

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