Vendors, Bills, Contracts, Compliance …
Does your company have the “expertise, time, & resources” available to complete the list of tasks in order to: audit, manage, assess, analyze, negotiate and improve vendor proficiency in your business?
LIMITLESS Billing Optimization looks into current and past vendor and supplier bills to uncover all unnecessary charges, as well as, find over-charged billing errors. This service makes sure that you are refunded all the money your company has been unfairly charged over multiple months or years. This is the foundation of your cost savings and includes:
- – Cost Reduction
- – Benchmarking (Rates-Terms)
- – Spend Visibility
- – Vendor Accountability
- – Contract Improvement (Terms)
- – Profit Improvement
- – 3rd Party Expertise and Neutrality
Billing Optimization combines the power of an audit with the renegotiation of your contracts to provide superior contract terms and conditions.
Here are some facts:
- – “Approximately 50% of companies admitted to having poor visibility into their supplier contracts, making it difficult to track and monitor them. A key reason is that 80% of these companies are using manual or partially automated processes and disparate systems.” (Aberdeen Group Research)
- – Best-in-class organizations achieve up to 80% more savings than others through a clearly defined contract compliance process. (Source: Aberdeen Research)
- – The core of an effective contract management program is a central repository for holding contracts. Yet only 48% of organizations have a central repository to manage their contracts, according to a recent Aberdeen Group report.
- – Companies lose nearly 3-5% of savings opportunities because of auto-renewing contracts,
- – 80% of Business Telecom Invoices have billing errors (Gartner Group)
- – U.S. Businesses have $13 Billion/year in Telecom Billing Over-Charges. (Gartner Group) Only 2% is ever recovered!
- – U.S. businesses waste over $38 billion a year…mostly due to telephone company errors (Aberdeen).
- – Up to 85% of mid-market company telecom bills are paid in full and are not audited by the organization.
When an audit is conducted, billing analysts most often examine just a small subset of invoices associated with the largest spending leaving hundreds, thousands, even millions of dollars unfound in other spend areas.
With Billing Optimization, LIMITLESS looks into every aspect of your billing, assuring that you save as much money as possible.
Want More? LIMITLESS VENDOR MANAGEMENT SOLUTIONS (VMS)
While billing optimization provides on time Contract Improvement, Cost Reduction and Spend Visibility, LIMITLESS Vendor Management Solutions provides an on-going FULL VIEW into your vendor costs and services – Analytics, Metrics, Details and Process … Let’s compare the 2 services.
The LIMITLESS Vendor Management Solutions (VMS) is: fully managed, enterprise-based and generates high level spend and vendor management metrics. VMS provides a SINGLE SOURCE tool providing transparency and visibility into all vendor management processes, documentation, invoicing and costs.
To learn more about our Vendor Management Solutions click here.
Contact us today at 866-504-4050 or email LIMITLESS at firstname.lastname@example.org to learn more about our Vendor Management Solutions. Also connect with us below on our social media sites and for immediate assistance use our CHAT.