Vendor

Management Solution

A Complete Inventory of your Contracts and Billing
LIMITLESS TECHNOLOGY

VMS

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 what led Limitless Technology to offer fully managed vendor solutions. Vendor Management Solution (VMS) is a discipline that enables businesses to not only cuts costs but also: control expenses, drive service excellence and mitigate risks. It also provides a high level of increased visibility and exponential value from their vendors.

Limitless Technology provides a suite of products which offer great value to your entire organization. The foundation for these services are built on 2 pillars of success: our VMS Document Management platform and a Billing Optimization process that has been time tested and verified to provide significant value by our internal team of experts. VMS Document Management is a cloud-based technology that houses all your contracts, supporting documents, critical notifications, and detailed vendor criticalities. Our Billing Optimization process starts with a forensic bill audit, and reviews current and past vendor or supplier bills to uncover all billing errors, unnecessary charges, misappropriations and over-charges. Each of these platforms is available as a stand-alone service.

Benefits of VMS

Increased Visibility and Value

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    IMPROVED TRACKING

    Vendor Management Solutions with Limitless Technology allows improved tracking of not only spends but includes: document repository, inventory management, dashboards, report metrics and improved financial planning and analysis.
    This powerful information helps streamline the budget process, perfect acquisition modeling, improve spend accuracy and bottom-line increase profit.

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    A COMPLETE INVENTORY

    A complete inventory of your contracts and billing are loaded and maintained through your portal for the purpose of base-lining when auditing an invoice.Discrepancy reports are produced so invoice errors can be tracked and all credits and refunds can be facilitated on the client’s behalf. Also, Limitless Technology will even assist with your carrier payment processing.

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    STREAMLINE AND AUTOMATE

    The Limitless Technology vendor management solution can streamline and automate the many processes that support contracts, invoices, agreements, and vendor information all at your fingertips. Do not allow a lack of visibility into vendor deliverables and performance to increase costs and decrease the value of your company!!! An enterprise-based solution that automatically generates vendor management metrics will deliver valuable insight for regaining control of your vendor activity.

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    SOLUTIONS FOR EXECUTIVES

    Limitless Technology provides Vendor Management Solutions for executives just like yourself, who are concerned or frustrated with difficult to manage fixed and varying expenses. A few underlying examples that are often overlooked are in the areas of telecom such as: bulk TV, internet, conferencing, cable, data services, voice services, etc. and in utilities items like: water, gas, electric, waste, recycling, etc. That’s not all. There are many other vendors like merchant card services, travel, landscaping, linens, chemicals, janitorial, elevators, and many more.

   Let’s find out how Limitless can help you. Let’s get started

VMS

Features to an effective Vendor Management Solution:

  • Spend Analytics

    Provides identification of profitability trends and compares/contrasts changes over time.

  • Benchmarking (Rates-Terms):

    Gain a competitive advantage with national insight on spend categories and vendors.

  • Vendor Risk Management:

    Track historical vendor data. Avoid duplication of selection errors.

  • Document Management System

    Increases search efficiency with detailed centralized repository.

  • Vendor Contract and Agreement Inventory

    Stops the misplacement of potentially cost affecting agreements and loss of assets.

  • Spend Visibility

    Identifies savings opportunities, better enforce and facilitate contract compliance.

  • Cost Reduction

    Decreases costs while Increasing Profit Margins.

  • Compliance Tracking

    Removes potential Risks and Ensures controls and performance.

  • Contract Management

    Reduces risk by ensuring compliance with licensing and legal guidelines.

  • Vendor Visibility – Transparency

    Gives credentials insight of vendors and provides more than just pricing comparisons.

  • Vendor Accountability

    Improves service performance with product and services standardization.

  • Vendor Assessment/Ranking

    Increases selection quality by objectively comparing past and current performance of suppliers.

  • Cost Controls

    Increases quality process controls and standards for pricing. (Stops “cost creep”)

  • Asset Management

    Improves physical environment knowledge management and better long-term capital planning.

  • Process Improvement

    Improves Operational efficiency and customer service.

  • Profit Improvement

    Increases Operating Margins, Cash Flow, Net Profit, Cap Rates, Valuation and Shareholder Value.

  • 3rd Party Expertise and Neutrality

    Provides true analytical and competitive marketplace facts without bias.