November 2024
Start 2025 Strong: Cost-Cutting Tips for Smarter Vendor Management
Vendor management can make or break your procurement strategy. Poor oversight leads to higher costs, inefficiencies, and risk exposure. This year, make your vendors part of your success story.
In this edition of Spend Insights, we share actionable tips and resources to help you optimize vendor relationships, cut costs, and start the new year with a leaner, smarter approach to procurement.
Quick Reads:
Read time: 4 minutes
Resource Spotlight ??
Free Vendor Scorecard Template ??
Evaluating vendors objectively can feel like guesswork. A vendor scorecard makes it easier to:
In the News…
Are your vendors partners or just providers? Read why IT leaders are rethinking vendor relationships to increase value
Read how you can save time and money for your business with smarter vendor management workflows
Uncover why 98% of suppliers say their communications with their largest customers is in need of improvement
Stop vendor fraud before it costs you – discover 7 red flags to know
Discover the top? 7 vendor management mistakes leaving businesses vulnerable to unnecessary risks – and how to fix them fast
Use these 7 steps to onboard suppliers without the usual headaches
Read how third-party risk management helps identify blind spots, secure your operations, and safeguard your business against potential breaches
Success Stories
Clinton Management consolidates payments, improves vendor relationships, and saves money
By consolidating payments and centralizing orders, Clinton Management:
That’s it for this month!
Vendor management doesn’t have to be a headache. With the right tools and strategies, you can cut costs, improve relationships, and ensure your procurement process runs smoothly.
It’s time to adopt smarter workflows to make 2025 your most efficient and cost-effective year yet!
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