Vendor Management Solutions
A Vendor Management Solution (VMS) is a discipline that enables businesses to not only cut costs but to also control expenses, drive service excellence and mitigate risks to gain increased value from their vendors. Through our on-line software overall vendor management, as well as – vendor expense management, is accomplished by giving you absolute visibility into your spend. No matter what the vendor or type of service they provide – companies can have a complete view into their: services, contracts, rates, terms, conditions and spends through a sophisticated web-based portal. Expense management with LIMITLESS allows improved tracking of not only spends but includes: document repository, inventory management, and financial planning and analysis information to help streamline the budget processing/ acquisition modeling to improve accuracy and bottom-line increase profit.
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 will even assist with your carrier payment processing.
The LIMITLESS 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.
LIMITLESS provides Expense 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, etc. (list of most common vendors)
We use our expertise to: uncover errors, obtain credits, negotiate terms/contracts, manage compliance risk and avoid losses with our billing optimization and vendor management staff and solutions.
The benefits to an effective vendor management solution:
- – Vendor Risk Management
- – Inventory Control
- – Cost Reduction
- – Benchmarking (Rates-Terms)
- – Document Management System
- – Compliance Tracking
- – Spend Visibility
- – Vendor Visibility
- – Transparency
- – Contract & Compliance Standardization
- – Vendor Accountability
- – Vendor Assessment/Ranking
- – Cost Controls
- (Stop “cost creep”)
- – Asset Management
- – Process Improvement
- – Profit Improvement
- – 3rd Party Expertise and Neutrality
LIMITLESS’s Vendor Expense Management Solutions includes a complete and comprehensive review for all spends. Within the process the billing audit is performed by an expert assuring your contract rates are strongly negotiated, your prior and existing rates are adjusted, and we present you with future optimized monthly go-forward rates with reduced costs in place where possible.
We provide a comprehensive service where, either on a monthly or quarterly basis, we continue to review your bills to ensure that your providers are keeping your companies’ best interest and costs in mind. As an additional part of our services, when new contracts open LIMITLESS will also negotiate your new rates, terms, and conditions.
LIMITLESS offers web-based online expense management through a cloud-based portal and dashboard.
With this innovative tool, companies can have just about all aspects of their services professionally managed including:
• Inventory of all vendors (list of most common vendors)
• Costs per vendor service
• Contracts for every vendor stored for easy reference
• MACDS (Moves, adds, changes and disconnects)
Automation is necessary in vendor management. If you are trying to manage your vendors manually, you’ll most likely: lack visibility into performance and deliverables, waste time, and increase labor and administrative costs. By using vendor management software, your company can gain valuable insights that can increase efficiency, mitigate risk, and maximize vendor performance.
Contract management or contract administration is the management of all contracts, agreements, vendor responsibilities made between customers, vendors, partners, or suppliers. And bottom line can be a real pain in the…neck.
At LIMITLESS we analyze current contracts that are in place and renegotiate new contracts to reduce costs. We assist clients by offering a complete vendor management portal solution for all telecom, utility and waste contracts and agreements. Contract management monitors compliance and suggests areas of cost reduction. Many companies experience problems with rates and charges that differ from the rates contained in an initial Agreement. Typically, when rates differ, it is not in the customer’s favor.
LIMITLESS has on-staff consultants with specialized knowledge of the challenges involved in contract negotiation. We work to understand the needs of our clients and match those needs with contracts that meet the expectations, budgets and quality of services that our clients desire. Our vast understanding of the industry allows us to offer our clients unprecedented levels of expertise in all matters regarding contract negotiation.
In addition, we work with clients to plan for future changes that could impact the overall picture. We provide our clients with the flexibility needed to adapt to the constant changes in the industry while still offering methods to minimize costs. From our client’s needs, we work with vendors who will propose multiple solutions. In some cases we undergo contract negotiations with numerous carriers to offer multiple proposals for our client to obtain the most aggressive pricing. LIMITLESS accepts no compensation from these carriers and is vendor-neutral offering unbiased advice and analysis of carriers and providers, along with their solutions. This allows us to approach negotiations from an objective point of view and provide the most cost-effective solutions for our clients. The proven RFI-RFP-RFQ process of evaluation ensures the finest obtainment of services and contracts for our clients.
Contact us today at 866-504-4050 or email LIMITLESS at firstname.lastname@example.org to learn more about our Billing Optimization, Vendor Expense Management and Consulting Solutions. Also connect with us below on our social media sites.