What is #StopVendorAbuse
While we know that some organizations have strong relationships with their vendors, in our industry we have also seen vendors take advantage of those relationships or as in many cases where a management system is not in place the lack of visibility costs organizations $1,000’s. #StopVendorAbuse is about vendors and suppliers being held accountable to contracts, terms, agreements, pricing and quality of service. Holding vendors accountable increased the integrity of your vendors services giving you the peace of mind you are receiving the quality your business deserves. When visibility into spend and process are in place both suppliers/vendors and organizations benefit and profit improvement is achieved.
Share your experiences with us as an organization “Have you experienced a time where you feel your Vendors or your Vendor Management Process could have or did affect your business”?
[bg_collapse view=”link” color=”#4a4949″ expand_text=”SHARE WITH US” collapse_text=”CLOSE” ]Our clients have told us of their experiences with poor vendor processes, vendor negligence and cost creep just to name a few. These are just a examples of the vendor risks business assume daily. What are your risks? What actions could your vendors take today (or have in the past) that would affect your business process, your ability to provide quality to your customers and thus reduce your quality of service, profitability and worse your business reputation.
What is your process to access all your vendor spend and contract information?
Benefit of Document Management Increases Efficiency and Effectiveness
Documents, whether electronic or paper, are an essential component of just about any enterprise. Managing business information, sometimes from several sources, can be a challenging task. A document management solution that captures, stores, and retrieves both paper and electronic documents can provide many key benefits. Uncovering operational solutions that increase efficiency and improve employee performance often begins with document management.
Do you know how it costs businesses just to file documents, or find lost documents?
What is the COST to FILE A DOCUMENT?
Industries are losing $260 billion each year due to a pervasive inability to organize and analyze spend data.
Organizations spend … $20 in labor to file a document, $120 in labor to find a misfiled document and $220 in labor to reproduce a lost document.
Professionals spend 5 to 15% of their time reading information, and up to 50% of their time looking for it. 7.5% of all documents get lost; 3% of the remainder get misfiled.
What benefits would you receive from an extended visibility into your spend across every vendor & location?
Benefits of Vendor Visibility in Vendor Management Solutions
Don’t spend time manually looking through data. With spend analytics, you will gain visibility and efficiency by putting your data and analytics to work.
When you can visualize all your data, you can make better sourcing and supplier decisions. Greater visibility means enhanced information sharing, faster communication and better, more informed decisions for the entire organization. Gain deeper views into spend, contracts, and sourcing.
VENDOR MANAGEMENT SOLUTIONS
Our Vendor Management Solution (VMS) is a discipline that enables businesses to not only cut costs but also: control expenses, drive service excellence and mitigate risks…while gaining increased visibility and value from their vendors. Through LIMITLESS’s on-line software overall vendor management, as well as – vendor expense management, is accomplished by giving you absolute visibility into your vendors and spend. No matter what the vendor or type of service they provide – companies can have a comprehensive view into their: services, contracts, rates, terms, conditions and spends through this sophisticated web-based solution.