3 Reasons to Consolidate Your Vendor Relationships
Mon Jan 06, 2020 | Lasers Resource
How many vendors does your company deal with when it comes to everyday office supplies? Companies small and large can end up dealing with dozens of vendors. Not only is this time consuming (and an admin nightmare), but it is also a costly mistake.
It’s a new year, which means there’s no better time to reduce expenses and enhance your workflow. “New year, new you” can apply to businesses too, right? In order to do this, we recommend consolidating the number of vendors you’re working with. Imagine being able to manage all of your printing needs through a single supplier, a single invoice... seems too good to be true? It’s not.
Here’s why consolidating multi-vendor relationships will benefit you:
1. You will save time and money.
Your printing needs have grown and developed alongside your company. You’ve been working this way for so long that you’ve just gone along with it, not really thinking about the unnecessary costs and/or time associated with it. As you’ve brought in new printers, you’ve brought on new vendors who are all charging you separate fees to provide you with the exact same services. Each vendor charges its own management and service fee. Think about how quickly those additional costs can accumulate and how that is likely affecting your budget.
With a single vendor, you are able to place larger orders, which means you can negotiate to receive a discount on your invoice (think: bulk pricing). This may not seem like much per order, but, by the end of the year, it can really add up; especially when you take freight costs into account. The more companies you have to deal with, the more money you are paying in hidden fees, like the transportation of products.
2. You will gain more meaningful relationships with your vendors.
You already have an abundance of clients to manage on a daily basis. Why not make things easier where you can? Managing fewer relationships will not only benefit you when it comes to time management but it will also allow you to create more meaningful relationships with your vendors. By consolidating your vendor-relationships, you will have the opportunity (and the time) to really communicate your printing needs, so you’re not wasting money and resources on features that your team has no need for.
3. Support issues will be quicker and easier to diagnose.
Having a less complicated print environment will allow you to have a much simpler process, and therefore, a simple diagnosis when it comes to tech issues. Your IT department should have a process for dealing with all print-related issues. This lowers the amount of time spent dealing with support teams and frees up time to work on other important tasks. Ask your IT team how this would impact their day. Our bet is that they would be delighted to have one vendor and one invoice to deal with (and so would your admin team).
We know that consolidating your vendor-relationships will not be an easy feat, but we also know that the payoff will be worth it. We believe you should get the most out of your vendor relationships (which includes only spending money where you need to).
Contact a Lasers Resource specialist to learn more about vendor consolidation and where you can start.
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