Many businesses need to deal with a lot of vendors in order to keep their doors open - enough that, at times, it might seem that the most time and energy is spent juggling these vendors. That doesn’t have to be the case, however, at least where your technology solutions are concerned.
This is thanks to something known as vendor management.
What is Vendor Management?
Take a moment and consider how many vendors you deal with, in terms of your business’ IT. Chances are pretty good that there are a few different ones that you use for your different solutions, based on who could give you the best deal at the time. You could have a vendor who supplies you with workstations, one for your server infrastructure, and so on and so forth… once they are all taken into consideration, your business relies on you reaching out to quite a few providers, each on a fairly regular basis.
Here’s the challenge.
Reaching out to your vendors isn’t always the most efficient process, so while working with them is critical to your operations, it can be difficult to justify the time spent to do so. At the very least, you will have sacrificed time that could have been spent attending to other critical facets of your business… which means you’re effectively sacrificing money, in order to spend money.
Vendor management helps to alleviate the issue significantly.
As an IT provider and resource, CoreTech has naturally needed to work with vendors very consistently. As a result, we have formed solid working relationships with them, which frequently allow us to enjoy better deals from these vendors. This is just one of the benefits that companies have seen from allowing us to act as their representative with these vendors - which is essentially what vendor management is.
How Vendor Management Benefits Your Business’ Bottom Line
So, at this point, we’ve established what vendor management is… so how does it help reduce your investment into procuring the resources you need to operate?
There are actually a few features of vendor management that contribute to your cost savings.
Better Use of Time
As we went over above, dealing with your vendors yourself can be a time-intensive process. Once the time comes, you have to reach out to the proper vendor (or vendors) that provides the resources needed, which is time that isn’t being spent on revenue-generating endeavors.
However, by working with CoreTech and allowing us to manage your vendors, all you have to do is notify us of your needs and we’ll handle the rest. We’ll reach out to your vendors on your behalf, allowing you to invest your valuable time elsewhere in your business.
Benefits and Bargains
We’ve already discussed how we’ve cultivated working relationships with many vendors, which can be to your advantage. Due to our continued dealings with them (not to mention our ability to negotiate from an informed standpoint), we are often given access to better deals than one of our clients would be. This allows us to pass these benefits on to you.
Simplicity
Again, not to harp on this point too much, but with us managing your vendors for you, the entire process becomes so much easier on your end. We serve as your single point of contact for any of your needs, not only freeing up more of your time, but also significantly decreasing the hassle of placing orders and keeping up on your business’ needs.
Does vendor management sound like something that your business could find to its advantage? Reach out to CoreTech today to learn more. Call (270) 282-4926 to speak to one of our IT professionals.
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