Inventory Management Case Study
Large property management companies in the Midwest – its footprint spanned 80+ properties over multiple states
The Challenge
The company bought and sold numerous properties over the years with limited visibility to their inventory creating a false view of inventory reality. The uncertainty of what services were active vs inactive/canceled caused significant and unnecessary payouts to vendors, late fees, and prevented them from planning for growth and proper management. Additionally, the company had concerns about service quality, inventory management and the technology performance was not in line with their needs and felt its rates were no longer competitive.
RESULTS
Intelligent Bills found
But that's not all!
Despite the existing situation, Intelligent Bills built a complete inventory of services and contracts for all vendors and properties. Upon completion and testing, we proposed a multi-vendor solution that incorporated standardized terms/conditions, fixed rates, and scalable processes from procurement to pay standpoint.
Key Intelligent Bills strategy recommendations:
- Position current problems to create negotiation leverage and highlight the marquee value of this
growth client to the carrier. - Consolidate vendor management and scale procure to pay process across the organization.
- Focus the renegotiation on key rate elements and essential protective clauses.
- Support specific chargeback and call accounting requirements.
- Standardize the vendor ordering process for all technology needs on a location by location basis
We defined their overall Procure to Pay process for managing technology changes and vendor management.
The improved management and controls have yielded significant annual cost savings and controls in
excess of $200k.
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