We create a process that will change the way an organization maintains and leverages their written vendor agreements forever. This process will help eliminate confusion and unnecessary operating costs caused by billing errors, unexpected price increases, and incorrect service levels. Our early notification process on expiration dates avoids automatic renewals and allows both parties to renegotiate new terms that match current needs with competitive pricing.
- VendorTraQ starts with a detailed customer analysis to ensure that all the vendor relationships that impact their business are documented. This ensures that VendorTraQ has secured all agreements and that expiration notification dates are accurately set.
- VendorTraQ coordinates the collection of all vital documents. If an agreement is missing, VendorTraQ contacts the vendors and verifies that all the terms and conditions are validated.
- All Agreement documentation is scanned and archived in the secure VendorTraQ on-line database for easy access 24/7. The database allows easy access to all the necessary details about the agreements that foster improved communication, service and billing processes.
- VendorTraQ’s e-mail notification system sends 3 alarm notices at 90-60-30 days prior to the expiration date for each agreement. E-mail alerts are sent to the designated management. Clients appreciate this early notification process to allow adequate time to research and negotiate a new service agreement. This process has proven to save thousands of dollars for clients and eliminate the frustration of missed deadlines.