Your company starts to grow, and you need more technology to keep up with additional staff, customers and to help improve the process. You are aware of the efficiencies and cost savings made possible by new technologies and are upgrading their infrastructures as a result.

But are you aware of How Purchasing more Technology can lead to Cost Creep?

Every CFO knows about “cost creep”; the slow build-up over time in the cost/revenue ratio. In today’s marketplace, there is an increasing number of service providers who can deliver more efficient solutions, giving end-users more options than ever.

In the beginning, new suppliers are on their very best behavior, cutting deals and slashing costs. The client will enjoy some pretty large cost savings during the first couple of years.

However, as the contract matures and becomes less visible to the client, costs begin to slowly creep up until, if unchecked, they can accelerate way beyond the initially agreed-upon amount.

When you purchase more services, your plans may mutate, creating new contracts that incur additional charges. Over time, small ancillary charges can appear but are not questioned, increasing your bills slowly. This “creep” may leave you paying for services you do not need and may not even understand.

Because data is at the heart of every business and it plays a crucial role in businesses staying connected, technology bills are perceived as a necessary fixed expense and are often overlooked even when the initial cost has increased yet services have not changed.

Companies, Organizations, and Businesses can easily incur monthly expenses ranging from thousands to tens of thousands of dollars each month. Managing the financial component of vendors can be a nightmare! Looking at just telecom you have: Multiple carriers, multiple contracts, introductory offers, equipment, and different locations. Just these factors can lead to poor financial management and procurement processes.

Learn how to improve vendor management processes and improve your bottom line! #stopcostcreep #reducecostcreep

With a Vendor Management Solution, contract experts can negotiate a fixed rate for a particular service. The contract terms must be met ensuring that both parties are aware of what is expected and any variances will be flagged and the vendor will be held accountable for any charges and changes outside of the agreed terms.

If you have questions about any of our VMS benefits contact us today at 866-504-4050 to learn more about our Vendor Management Solutions.

As a business owner, you deal with stressful situations all the time. We are, however, in uncharted waters. Are you struggling to find a way to navigate through this painful cycle? Many executives just like you are as well.. You are trying to keep your business open, keep employees gainfully employed, and continue to serve your customers. Bottom-line, it can be overwhelming. There are solutions available. ​Here are a few options…

​Help your employees work from home
Great idea for some, but it’s not for everyone. If you are lucky enough to be one of the companies that can do this and you can get past the challenge of implementing the technology, how do you measure and monitor its effectiveness? Do you have the management or monitoring in place to know if it is helping you “stay afloat” and “keep the doors open”? Do you have a process to ensure its working?

Focus on Cost Reduction
Seems logical…but how do you figure out where to start? Who do you call first? ? How do you reduce cost or lengthen the contract term as fast as possible, and do it the right way? Do you have anyone on your team that even knows what a “good” contract looks like?

If you need help with these problems and others which are financially impacting you, please reach out to us. We are happy to provide some free advice and guidance, and do our small part to help in this trying and difficult time. You can reach out to us at : ​​http://limitlesstechnology.com/contact-us1/

We will help in any way we can.

​Be Aware, Be Well, Stay Safe, Stay Strong!

Improper management leads to duplication of accountabilities and capability gaps and overlaps, which can result in increased costs and missed business opportunities.

“By collaborating effectively, SP&VM functions can work toward common objectives, and transform from inward-focused teams to a combined outward-focused group that is engaged and motivated to work together to meet the future challenges of the organization,” says Luke Ellery, research director at Gartner. (www.gartner.com: Resource)

“Gartner estimates that organizations spend an average of 62% of their technology budgets on vendor products, services and outsourcing.”

Sourcing, procurement and vendor management are disciplines that must align with the most available souring options to allow the business with the speed and agility to grow. This alignment must be accomplished in all vendor industries especially technology where markets are rapidly growing. All markets must be continually evaluated, revised and measured against changing business priorities, market disruptions and new opportunities.  Engaging with potential vendors, negotiating with them, buying from one or more of them in the same industry to facilitate transitions between vendors when a replacement decision needs to be made in order to ensure performance and achievement objectives and quality of service are maintained. Vendor management is not a one-time event, but rather an ongoing management function.

Setting the ground rules for vendor engagements outlines the frameworks and policies for effective governance.

The three disciplines of sourcing, procurement and vendor management have to be clearly outlined, roles and responsibilities documented, and work together to plan and execute these objectives.

With LIMITLESS, Vendor Management Solutions, we partner with each member of your team so they feel confident they can maintain the overall control, won’t lose the vendor relationships they value but, WILL gain the critical support they need to make better decisions. The support we provide allows your team to focus on the important work of ensuring occupancy rates, delivering exceptional resident experiences, and grow their business and market shares.

Nationwide: 866-504-4050.

Other Ways to Connect with Us.

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1. SHOP AROUND FOR SERVICES AND SUPPLIES.

Save money on business supplies by contacting your vendors and negotiate pricing. This will also let them know you are spend savvy and will shop around to find the best price. Most suppliers are amenable to the idea of negotiating prices, especially in this economy, and certainly they would rather do so than lose a regular customer. As leverage, try to find another supplier that’s offering lower prices, then ask your current partner to match or beat them.

2. BE CREATIVE and CUT PRODUCTION COSTS.

As a business owner, you’re always looking for ways to cut material and production costs. Try selling leftover materials such as; cardboard, paper, wood, containers and metal instead of sending it to the recycling center. Also, consider ways to use your waste to create another product.

• – Get the most your of your production space. Centralize or consolidate the space necessary for production. Lease unused space to another business or individual—it can be as small as an office or as big as a warehouse space. Analyze your current use of physical space. Overflowing storage, too many supplies, piles of paper files and inefficient placement of furniture and equipment are common space wasters.
• – Consolidate or centralize the different functions or departments of your business. Use space for dual purposes. A meeting room can double as a break room or a storage room that holds copy and fax machines for example. The opportunities will vary depending upon the nature of your business.

• – Track and measure the operational efficiency of your business, in order to adjust and optimize the use of available resources. Set performance parameters that reflect your efficiency goals and offer incentives when those goals are met.

3. LOWER FINANCIAL EXPENSES.

Look at your insurance policies and financial accounts for places to save money.

• – Save money on insurance by comparing providers for the most competitive rate; then ask your current lender or insurance provider to match that rate.
• – Consolidate insurance policies or bank accounts if possible.
• – Evaluate insurance policies to make sure you’re not over-insured or duplicating coverage.
• – Don’t take on unnecessary debt. Do a thorough cost-benefit analysis and future forecasting when considering business expansion. Consider the opportunity costs and the effect of debt payments on cash flow. Excess debt affects company rating, interest rates and the ability to borrow in the future.

4. CUT MARKETING COST WHERE YOU CAN.

Of course, you don’t want to eliminate paid advertising that is working; however, it can be worthwhile to take a look at some cheaper alternatives.

• – Build your customer e-mail list and implement a referral program. A recommendation from a current customer is far more likely to result in a sale than traditional marketing.
• – Network more, advertise less. Clients are more likely to hire a business with a face they recognize.
• – Cut marketing costs by doing more in-house.
• – Increase social media use and reduce traditional marketing.

5. USE TIME STRATEGIES.

• – Set expectations for a reasonable amount of time to complete certain types of business activities or tasks. Offer employee incentives for meeting or exceeding those expectations.
• – Schedule a predetermined block of time for meetings. Make it clear that you expect participants to be on time, to stick closely to the agenda and to wrap up at the appointed time.
• – Virtual meetings help minimize travel expenses, save time and virtual offices can eliminate the need for physical space. While we certainly don’t want to eliminate personal contact altogether, save it for the instances when it’s most beneficial.

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 use our Powerful Process to identify cost savings, improving and negotiating contracts, finding billing errors and obtaining refunds. Our Clients realize that they derive the most benefit by concentrating their efforts on their core business. Realistically, most organizations simply do not have the time or in-house expertise to analyze all the multitude of bills, contracts, suppliers and national pricing alternatives potentially available.

Our Proven Results have saved companies tens of thousands and in some cases even millions on their telecom, utility and vendor expenses with our proven cost reduction process. This “found money” allows our Clients to reinvest the “savings” into growth initiatives or apply these “found profits” to their bottom line.

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

Nationwide: 866-504-4050

No matter how corporate billing is done, it’s a mistake to think that billing today is computerized and accurate.

Companies of all sizes can make mistakes; even one missed keystroke can turn into a billing error over-charging a business (your business). Sometimes billing errors go on unchecked for months or even years, and end up costing businesses millions of dollars.

Vendor / Service Provider Billing Errors

Cable TV, phone, internet, and other communication services on are essential services for businesses. However, there are some very common telecom and utility billing errors that customers should watch out for.

• – Billing past the cancellation date: Telecom companies may continue to invoice monthly charges after the customer has requested a cancellation. This can occur for years after the cancellation and in some cases even after the business has moved from its location.

• – Incorrect rates being charged: In some cases businesses are charged incorrect rates for the services being performed. This happens when the initial discounts are not honored or applied upon renewals. This can be caused by an oversight on behalf of the provider or misleading agreements that set limitations in disclaimers.

• – Charging for services the company did not request. Charging for services the business did not request? Sounds impossible right? It does happen and more often than you might think. Services like internet faxing or network monitoring are added to the account and the customers pay additional fees unknowingly for these services.

• – 3^rd Party Fees: The most frustrating section of your telecom invoice is “Third Party Billing.”  These fees occur when your telecom vendor simply acts as a billing agent. These fees are usually for services that your company does not use. Situations like this are referred to as “slamming” or “cramming” fees. In many cases these fees are overlooked and are not questioned. Errors and overage charges in these telecom billing components allow companies to be taken advantage of, and these billing inconsistencies are costing your company money.

• – Utility Company Errors: As with telecom, cable and internet, utility bills can also reflect a number of errors. For Example, many electric and water meters are still read visually and a single wrong digit can send power, water and sewer bills skyrocketing. And worse those who are mistakenly charged are usually forced to pay the high bill to avoid being shut off. In some cases, even when the utility company admits fault, it will only issue a future “credit”, and not refund the overcharge.

The best way to avoid vendor billing errors and overcharges is for commercial customers and businesses, to monitor their usage history and billing statement every month. When high rates or suspicious charges appear, the vendor/service provider should be contacted and an attempt made to resolve it.

For questions about your invoices and possible errors including information about our Vendor Management Solution contact LIMITLESS at 866-504-4050.

The Cottages contracted with Limitless Technology to audit telephone, cable television, and internet expenses, and to renegotiate and renew most of those contracts. Initially, I was hesitant and skeptical. I didn’t believe there was any money to be recovered, and I didn’t anticipate that there was much savings to be had. Limitless Technology finally convinced me that I had nothing to lose and that the time required from me was minimal so I finally caved and signed. My only regret is that I didn’t do it sooner.

Once the contract was in place, Limitless Technology immediately started gathering information on our accounts. Even though I had been assured that very little time and “digging” would be required of me, I was honestly surprised at how little it actually turned out to be. Their promise was accurate!

A short time later, they started sending me reports about how much money they would be able to recover for us where we had been over-billed and overpaid cable television bills. The Cottages really pays attention to our contracts and invoices, so this certainly surprised me. But I was quickly credited over $14,000 from Comcast for just that one thing. And then they went to work on contract renewals.

The cell phone contract was quick and easy. I was unwilling to change providers and Limitless Technology was perfectly willing to work within that requirement from me. They dug into our services though, and our plan, and before my next billing cycle, they had cut that bill by almost $1,000 per month without losing any features in our calling plan. Once again, I was really surprised, but starting to realize that they were very realistic when they told me I had nothing to lose and so much to gain.

While the credit recovery and savings on the phone bills were so worthwhile, the best part for me came with the cable television contract renewals. We had contracts in place with three different cable television providers, and every one of them had terms in place that were basically holding us hostage to those companies. And while we do get good service from them, I want fair prices and fair terms too. Limitless Technology renegotiated every one of those, gaining us better prices, but more importantly, better terms. The best thing on those in my opinion was their ability to minimize their allowed increases. So far, we are realizing a savings of $800 a month on cable television, and will have even more monthly savings on that as soon as Charter Communications finalizes two more contracts.

All told, we have saved over $37,000 in a year since contracting with Limitless Technology, which is 17.21% of our annual spend on telephone, cable tv, and internet.

Limitless Technology has been truly great to work with. I went from being their biggest skeptic to their biggest fan. I greatly encourage everyone to give it a shot and I know you’ll be pleased. Don’t hesitate like I did – that was just a waste of money that I could have started saving much sooner.

– Cheryl Burgess Westlake, Director of Operations

Cottage Senior Living

The best companies outperform because their strategies are clear, differentiated and well-articulated. Their organizational structures support key capabilities and have efficient decision making and talent in the right places. Most importantly, their culture of cost management extends to the front line.

Putting these 6 tips into practice can increase your company’s competitive edge, leading to sustained growth.

1. Build a culture with employees that embrace automation.

Employees are often reluctant to embrace automation because they’re concerned they’ll automate themselves out of a job. Yet in most businesses, the highest performers tend to automate the most, whether formally or informally. When you talk about automation, talk about the benefits to employees, both in their current functions and in how it will allow them to grow into higher-level positions.

2. Hire a Programmer

It’s important for business owners to stay on top of their accounts receivable, and one of the best ways to do that is to invoice early and often. But filling out and sending an invoice every time a customer makes a purchase can consume a lot of time. A programmer can automate and customize invoicing and reporting to meet your needs, which means invoices and reports go out on time, every time.

3. Create a Faster Response Time

Setting up an automatic process for leads will not only increase the customer experience but also allow for faster response times. Automate your incoming inquiries to directly drop into your CRM (example: Salesforce) and assign a representative immediately, so they can be alerted right away and create a faster response time.

4. Provide Contracts Digitally

Contracts provided digitally to your existing and future clients makes the execution of contracts traceable for both parties, shows the history of changes, and limits cumbersome processes like scanning/emailing or even faxing completed contracts back and forth to one another.

5. Automate Finances and Marketing with Digital Tools

There are dozens of online systems and software programs that have automated business functions. Accounting, website hosting, marketing communications, payroll and more have all benefited from programs and services that make it easier to manage business.

Making payroll is more than just cutting checks to your employees once a week. It involves filing the correct payroll forms with the IRS, calculating the right amount of taxes due, and paying those taxes on time. Payroll takes a great deal of time and if you make mistakes, you could pay heavily for them in the form of fines and penalties. There are so many options for businesses to automate payroll, time tracking, financial processes, and provide business analysis. Automating financing where possible allows your organization to focus on other, more time-consuming tasks.

6. Inventory Management

Managing your inventory can take up a lot of time if you do it manually. After all, you have to enter the information for each product, keep track of its location, delete it when it sells, and predict when you need to reorder it. But when you use an inventory management system, it will automatically keep track of your products’ location and availability — and it will automatically calculate how much product you need to reorder and when. You will be able to scan bar codes instead of typing in product information by hand, and if you need to retrieve information about a specific lot number, most inventory management systems allow you to do so easily.

You should always be looking for ways to make your business more efficient- automating processes can do just that. By tightening up your processes and procedures, you can reduce waste (both materials and time) and therefore, decrease costs. Empower your employees to look for inefficiencies and identify ways to save time and money.

For more on how your business can reduce operating cost and maximize profits contact us at:  866-504-4050 or click here: CONTACT LIMITLESS

Make the relationship mutually beneficial: A business relationship works best when both parties benefit.  Procurement teams that have successfully aligned with their key suppliers have improved supplier capabilities of innovation, quality, reliability and costs/price reductions.

Within the Healthcare industry and Businesses of all industries alike – cost-reduction efforts are usually tactical, not strategic: Goals are modest, one time fixes and the causes behind inefficiency are not at all targeted. Such an approach is equivalent to treating symptoms rather than curing the disease. Healthcare service mission makes addressing clinical utilization (the right people doing the right things in the right way) especially challenging.

Not a One Time Fix – Treat the Disease not the Symptoms!

C-Level Executives should revisit their strategic sourcing contracts and work closely with their suppliers to analyze current spending and achieve maximum cost reductions.

Procurement savings can be made in a number of areas within a Purchasing Department. The aim of procurement savings are to drive down procurement costs, improve supplier terms and decrease product prices.

Empower your business with supply management efforts to reduce costs. Achieve cost reductions in procurement and negotiate corporate prices and payment terms with suppliers, here are some ways to drive down costs …

5 Strategic Ways to Drive Down Procurement Costs

1. Negotiate Costs with Suppliers

Studies have shown that present suppliers become complacent about existing customers unless they are motivated to remain competitive. Discussions with a new or existing supplier may lead to a reduction in cost. Asking for new bids from a present source who knows that competitors are also submitting quotes is often all that is needed to obtain concessions from the present supplier.

2. Reviewing supplier’s terms and discounts.

Ensure that a Master Agreement exists for all the suppliers. Discuss with your suppliers as to when you may make procurement savings by altering your purchasing patterns. It may be that by purchasing slightly more products your automatically receive a higher discount.

3. Train Ordering Staff

Ensure that the correct management controls are in place.  Are the correct people ordering the right products for the job? This should cut down on excess or incorrect purchasing. Train staff on cost effective purchasing and encourage them to save money whenever possible.

4. Sourcing

Changing suppliers is often a good way to obtain a cost reduction; however it has risks. The new supplier may not provide consistent quality, may not provide good service, and may end up asking for a higher price. Changing a source for a key item requires the buyer to carefully check a supplier’s references and inspect the facility. Working with just one or two vendors enables collaboration between institutions and vendors on pricing, as well as on emerging technologies and innovations. Such seemingly small efforts to reduce inefficient care can lead to the early wins that set the stage for other improvements.

5. Purchasing Appropriate Quantities

Reducing the amount of inventory saves investment, saves space, and avoids deterioration and obsolescence. Buying the appropriate quantity minimizes inventory. Increasing the quantity ordered provides economies of scale to the supplier who in turn should pass on a portion in the form of quantity discounts. Any increases in quantity ordered must be compared with the cost of any need to keep additional inventory on hand. 

Good management of the Purchasing Department is crucial to a profitable company and procurement savings can only be beneficial. There are a considerable number of ways to make procurement savings and all staff and managers should be aware of them and trained in good purchasing.

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 use our Powerful Process to identify cost savings, improving and negotiating contracts, finding billing errors and obtaining refunds. Our Clients realize that they derive the most benefit by concentrating their efforts on their core business. Realistically, most organizations simply do not have the time or in-house expertise to analyze all the multitude of bills, contracts, suppliers and national pricing alternatives potentially available.

Our Proven Results have saved companies tens of thousands and in some cases even millions on their telecom, utility and vendor expenses with our proven cost reduction process. This “found money” allows our Clients to reinvest the “savings” into growth initiatives or apply these “found profits” to their bottom line.

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

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

Healthcare facilities are being challenged to produce high quality care without raising healthcare costs. Moreover, hospital leaders face the additional challenge of developing policies, procedures, and incentives to improve quality within a domain that has traditionally been the province of highly autonomous professionals.

• Growing number of patients/residents: Global patterns indicate a reliable growth within the “getting older society”– US projecting an estimated 22 percent of the US population will be at the top age 65 by 2030.
• Variable Improvements: Tough to adapt to variable improvements for the financial system in the marketplace.
• Improvements appear usually gradually.
• Product newest technological innovations require employees to have much more knowledge and techniques in order to operate them.
• Medical facilities are making use of more advanced ways of therapy; these are adapting current strategies of clinical experts. But, it might be challenging when nursing homes are not able to handle their real estate.
• Medical facility expenditures and spending have increased. Long-term health care facilities need to have professional medical related staff members available to meet the demands of consumer.
• Growth and development of new or expanding structures are very expensive.

Health care providers today are typically organized around specialties and services, which;

• Complicates coordination
• Interrupts the seamless
• Integrated flow of patients from one process to the next
• Leads to the duplication of many processes.

In the typical care delivery process, for example, patients see multiple providers in multiple locations and undergo a separate scheduling interaction, check-in, medical consultation, and diagnostic workup for each one. This wastes resources and creates delays. Eliminating unnecessary administrative and clinical processes represents one of the biggest opportunities for lowering costs.

Struggles within HEALTH MANAGERS;

• Maintain Expertise to acquire and maintain the expertise needed to undertake their professional tasks.
• Management of ongoing changes.
• Managing change is about handling the complexity of the process. It is about evaluating, planning and implementing operations, tactics and strategies and making sure that the change is worthwhile and relevant.
• Maintain and improve the quality of care processes and outcomes for groups of patients.

With growing struggles and uncertain economic future, how can healthcare facilities and businesses alike reduce expenses and maintain quality?

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 in some cases even 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 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