Representation
All too often when entering
into an agreement, there are good intentions made by both parties. The janitorial company has promised that they will clean the windows every week as part of their service. The uniform company has promised to replace all of the lockers at no charge. This may not be possible at the price that they have quoted. VendorTraQ makes it possible for companies to know how their vendors are representing themselves.
Many of our clients have used their VendorTraQ reports to help them with vendor negotiations at renewal time. They have added VendorTraQ to the agreement to give it some “teeth”, like a three strikes rule. The company has the option to nullify the agreement as a result of improper representation, quality of work or billing accuracy.
Quality of Work
Is that copy machine always breaking down? Does the maintenance department dispatch a technician in a responsive time frame? Has your vendor failed to meet your staffs expectations? A simple call to VendorTraQ will trigger alerts to your company’s management team, the vendor management team, and the VendorTraQ reporting department.
Billing Accuracy
Do the invoices that the vendor has mailed to your accounts payable department always match the price that was negotiated on the agreement? How does your accounts payable clerk know how much to pay? Hidden service charges are all too common. Most price increases are hidden on the back page of an invoice and it is the company’s obligation to find it, and file an objection within 30 days, otherwise it becomes binding.
A major grocery chain estimated that it cost $18.15 to process each invoice. If the invoice needed corrections, it could cost as much as $30. If you have vendors that can not bill you correctly, you need to know about it!
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