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“Do It for Me” vs. “Do It Yourself”… Should you Consider Outsourcing Vendor Management?

As businesses continue to grow and incur higher operational costs, there is an increasing need to optimize efficiency and cut costs.  When it comes to vendor management, the old DiY approach, combined with a simple Software as a Service (SaaS) solution leaves much to be desired.  It is quickly being replaced with a model referred to as “Software WITH a Service (SwaS),” also known as the “Do It for Me (DIFM)” approach. DiFM cuts out extraneous processes and enables businesses to focus on their real priorities, while the provider of vendor management solutions takes care of the rest.

A Tailored Fit

DIFM vendor management solutions are specifically tailored to the unique needs of YOUR business. Following the initial consultation and setup, the DIFM vendor management team identifies potential risks and negotiates with vendors to get the most value for your money. Think of it this way: A single software program is limited by the data input by its user, whereas a trained team of vendor management professionals is capable of thinking outside the box and offer fresh, innovative solutions to your most challenging supplier-related issues.

Time Is Money

There is no doubt that time is money, and business solution providers that offer Software with a Services provide companies with significant return on their investment. DiFM Vendor management solution providers like those offered by Limitless Technology include premium level services from a cross-functional team of experts, and a centralized platform where all your important documents are neatly organized and accessible with the click of a mouse. DiFM vendor management alleviates the headache of handling supplier onboarding and support by reducing impact of employee reassignment, centralizing web-based storage of all critical documents, and offers notifications and escalations for renewals/critical dates for all documents. 

The Most Value for Your Money

It is likely that your company works with hundreds of different vendors, all with varying charges, contract terms & conditions and changing points of contact. This, of course, can become incredibly complex for many people in your organization. Without the proper management of these vendors’ details, you can soon find your organization at risk.

Becoming non-compliant with critical processes and procedures, unaware of critical vendor risks, unable to easily access necessary documentation, crippled by poor contractual terms & conditions, and overpaying for goods and services are unhealthy for any organization.

This complexity is why the out of date DIY/SaaS model is not ideal. The DIFM model better enables businesses to not only cuts costs but also: control expenses, drive service excellence and mitigate risks. 

About Limitless Technology

Limitless Technology, LLC has been managing complex indirect spend and vendor documentation since 2006 for some of the largest companies in the USA saving them millions in costs.

Through our Billing Optimization and Vendor Management Solutions proprietary platforms we utilize technology, processes, expertise, time, and resources to improve our client’s bottom-line.

Limitless Technology manages your vendors, so you can manage and grow your business.

For Additional Information Contact us at:
Phone:             407.330.4466