2024-04-04 13:18
It seems as if each year, new challenges arise when it comes to managing your business more effectively. And in 2024, that is no exception. The rapidly evolving landscape of industries, comp… Read More
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What Is Your P & L Missing? Blog
limitlesstechnology.com
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According to a study by Aberdeen, “…few enterprises have had a comprehensive and accurate way to determine what they are spending on telecom services and utility services, with whom and why.†Therefore, vendor management, supplier contracts and invoices are likely to be overlooked when a company is looking to improve bottom-line performance. Cost Reduction can be achieved with 17-36% in savings. Why overpay?
2024-04-01 12:53
Cost reduction is a process used by businesses to reduce overhead and expenses and increase the bottom line. The strategies can vary depending on the complexity of a company’s spending… Read More
2024-02-08 14:44
This is a blog post test.
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billingoptimization#, costreduction#, expensereduction#, 3rdpartyvendormanagement# Read More
2023-08-24 19:25
The business environment at a macro-level has never been more challenging. Business expenditures are rising. The competitive landscape is becoming increasingly difficult. Technology is chang… Read More
2023-05-12 12:45
Often times when speaking with C-level executives I hear a jaded view on revenue in general. Most executives feel that sales forgives all sins and that top line revenue is king. But is it?… Read More
2022-11-17 14:00
As businesses continue to grow and incur higher operational costs, there is an increasing need to optimize efficiency and cut costs. With a pandemic threatening available manpower and extend… Read More
2022-06-23 18:15
It happens all of the time. Clients that audit their own invoices and manage their own contracts…spend wasted hours trying to sort out the fees and promo plans service providers… Read More
2022-05-12 00:16
With inflation and economic uncertainty dominating the headlines, when do you ask yourself the important questions:
Why are we trying to do everything in-house, and when do we start looki… Read More
2022-04-26 15:27
When focusing on cost reduction strategies, a successful asset management solution can provide significant savings. Not just financially, but also when it comes to saving time and lots… Read More
2022-01-25 13:36
The Limitless Technology logo was designed to reflect the value and services we provide our customers. Can you tell us what each of the 6 elements represents? The first 5 people to guess… Read More
2022-01-25 13:36
The Limitless Technology logo was designed to reflect the value and services we provide our customers. Can you tell us what each of the 6 elements represents? The first 5 people to guess… Read More
2021-12-23 14:02
Happy Holidays and Merry Christmas from your friends at Limitless Technology. May your time with family and friends be joyous and bright.
Click on the image below for a Holiday message fr… Read More
2021-12-14 16:00
Organizations cannot do business without vendors. Whether it is a telephone service provider or outsourced IT services, vendors are critical to helping operations run smoothly. Some business… Read More
2021-10-19 13:00
Why You Should Outsource Vendor Management Specialists to Avoid Costly Oversights
We all understand the importance of overseeing our vendor ecosystem, but today we’re paying it a bit m… Read More
2021-09-30 14:00
MOST COMMON MISTAKES made by finance, legal, and contract management departments …
Automatic Renewal Clauses (“ARCs”) or AUTORENEWALS can be golden for business… Read More
2021-06-01 13:20
There are thousands of new residents entering long-term healthcare facilities every day, bringing continued opportunity to grow. However, with new cost concerns since the pand… Read More
2021-04-20 17:23
While it’s hard to blame a company for canceling vendor audits during the pandemic, it’s important to understand that business is moving forward, and straying from good business… Read More
2021-04-01 13:30
Our CEO, Todd Larsen, provides insight into the value of Audit Trails. Read More
2021-03-25 13:30
Every interaction your company has with a vendor when relating to its services has a trail of information. Taking the time to make sure that this trail is easy to access, follow, and confirm… Read More
2021-03-18 13:30
Are you using the right metrics to benchmark your contract rates and terms?
To learn more about Benchmark Analytics check out this block post Read More
2021-03-11 14:28
When managing vendors and contracts, it is good practice to both keep costs down and avoid spending more money than is required. The more cash you keep, the better your profits will be. Howe… Read More
2021-02-25 14:30
With an ever-increasing number of potential vendors, it has become imperative for companies to devise strategies that can mitigate vendor risks. They need a robust vendor management process… Read More
2021-02-23 16:00
Innovation is all around us, changing the way we live today and shaping our future. The Synapse Summit is a 4-day digital experience, we will celebrate, discover and engage the inn… Read More
2021-02-16 14:34
A trusting partnership has to start somewhere Read More
2021-02-11 14:30
Limitless Technology has extensive experience providing Billing Optimization services and implementing effective periodic bill audits. Using a very structured approach, we tackle each e… Read More
2021-01-26 15:04
It’s fair to say that most businesses can only operate and fulfill their value proposition by relying on a wide range of vendors. As you would expect, some of those vendors… Read More
2021-01-14 13:30
There is never a better time to perform contract reviews than the beginning of the year. Budget planning is complete, and your team should be refreshed and returned from spending… Read More
2020-12-30 14:15
Wishing our clients, families and friends a Happy New Year! May 2021 bring health, happiness and prosperity to us all Read More
2020-12-10 14:30
What is a cost reduction strategy?
Cost reduction is a process used by many companies reduce overhead and expenses and increase their bottom line. The strategies can vary depending on the… Read More
2020-11-25 13:30
From our family to yours, we wish you a very HAPPY THANKSGIVING! Read More
2020-11-19 14:30
To answer this question, we need to understand the value that each of these services provides.
VMS is an acronym for Vendor Management Solutions. A true fully managed VMS… Read More
2020-11-05 14:30
The Bill Audit is a point in time review of your past bills that will help you uncover savings from your indirect expenses. It is the process of taking a comprehensive look at the current st… Read More
2020-10-15 13:30
Contracts are a critical piece of the puzzle when managing vendor relationships. They govern the relationships between a business and its vendors, its sub-contractors, its staff and its inte… Read More
2020-10-08 12:47
Vendor Management organizations are being asked to do more than ever before, including oversee new services, deal with troublesome suppliers/vendors and meet ever-increasing performance goal… Read More
2020-10-03 14:21
How do you forecast indirect expenses and drive cost reduction during the budget process? Try our VMS Platinum Cost Savings Calculator for an estimate Read More
2020-10-01 13:30
Vendor Management and Finance teams in nearly every industry are wrestling with many challenges because of the COVID-19 pandemic. They face health and safety concerns, significant threats to… Read More
2020-09-24 13:00
In a traditional business structure, Vendor Management and Finance are two separate departments, working alongside one another within the organization. While this works, it isn’t the m… Read More
2020-09-17 13:00
A surprising number of vendor management organizations do not actively manage the vendor lifecycle. When creating vendor management policies, the clear majority of organizations’ issue… Read More
2020-09-10 13:00
At some point or another, your vendor management team has found themselves looking over an invoice wondering, “Why are there billing errors on these invoices? Where did they come from?… Read More
2020-09-03 12:41
In an increasingly regulated world, and a rapidly changing business environment, organizations are facing greater scrutiny than ever when it comes to compliance. The focus on comp… Read More
2020-08-27 13:00
As businesses continue to grow and incur higher operational costs, there is an increasing need to optimize efficiency and cut costs. With a pandemic threatening available manpower and extend… Read More
2020-08-20 13:00
Managing the complexity of vendor relationships can be a daunting undertaking…but it doesn’t have to be. High-performance, cross-functional outsourced teams have the knowledge a… Read More
2020-08-13 13:00
Telecommunication companies, including cable companies and others that bill for communication services, are required to charge taxes and fees imposed on telecommunication services: sales tax… Read More
2020-08-06 18:44
Noncompliance occurs when one party in a contract does not fulfill his or her obligations. For example, if a construction company agrees to make repairs to your business’s fa… Read More
2020-07-30 14:00
You’ve likely been sold the benefits of SaaS or “the cloud” for every possible scenario faced by an organization. Depending on your view and your specific needs, you either… Read More
2020-07-23 19:41
Having contracts stored centrally has many advantages, including making specific company documents and information easier to find. However, without supporting processes and buy-in from staff… Read More
2020-07-16 15:00
Vendor management is the process of continually assessing the risks a third-party vendor and its subcontractors pose to your institution. It relies on policies, &hell…Read More
2020-07-07 08:00
Taking a risk-based approach to vendor management is growing quickly in importance as businesses work with a broader base of vendors.
Business expansion and increasing regulatory scrutiny of… Read More
2020-07-02 11:00
To Our Clients, Associates, Friends, and Families ~
This is a time for Our Country to reflect on All People and what we Stand Proud for in Independence as One Great Nation.
M… Read More
2020-06-30 14:23
Spend Under Contract is exactly that…it is the amount spent by an organization that is covered under a contract with a vendor. They are expenses that are ac… Read More
2020-06-25 08:00
If you are a cost minded and profit responsible business owner, Managing Member or C-Level executive, ask yourself this question…Why wouldn’t I jump at the opportunity to have a… Read More
2020-06-10 19:05
To know how to save money, you need to know where it is spent. The reality for most vendor management teams is that spend analytics and contract information is often incomplete. Managing cri… Read More
2020-06-03 17:14
To truly optimize your vendor contracts, you need to look at your contract management process from 2 important points of view: Contract Procurement and Contract Optimization.
Contract… Read More
2020-05-27 13:57
What exactly is a “document”, when it comes to managing your business? Simply put, any legal or business records that can be relied upon as evidence of terms, conditions, r… Read More
2020-05-20 18:29
Bill Auditing is one of the most ignored opportunities for cost reduction in an organization. This is especially true of companies who have a high amount of vendor or employee tu… Read More
2020-05-13 19:31
Over the last several months, as we have all dealt with navigating the current business situation…something happened. Many companies who were never thinking about implementing a… Read More
2020-05-04 15:59
If you’re considering a Vendor Management Solution (VMS for short), you are probably finding there are a lot of different options. From the “DIY” model to solutions t… Read More
2020-03-25 12:03
Dear Business Leader,
As a business owner, you deal with stressful situations all the time. We are, however, in uncharted waters. Are you struggling to find a way to navigate through this pa… Read More
2019-11-11 18:38
Vendor management is a repeatable, effective method for developing and monitoring third-party providers of goods and services. It is also a way to derive as much VALUE as possible from contr… Read More
2019-10-31 17:30
An underlying theme in any business is keeping costs at a minimum in order to spur growth and increase the bottom line.
As companies attempt to streamline their costs, an area that freq… Read More
2019-10-25 17:43
Cost Creep. Has this HAPPENED to YOU?
Your company starts to grow, and you need more technology to keep up with additional staff, customers and to help improve process. You are aware of the… Read More
2019-10-18 14:18
An independent study conducted by the International Association for Contract & Commercial Management (IACCM), concluded that poor contract management can cost companies upwards… Read More
2019-10-04 15:15
IT costs are often seen as a small percentage of business expense, generally sitting under 5% of overall business expenses. Many leaders in the past have focused on larger areas, avoiding ta… Read More
2019-09-28 19:25
Limitless Gives Back
Hurricane Dorian reached the Bahamas as a Category 5 hurricane. The storm completely encompassed the islands and stayed camped overhead for 41 hours. The impact of this… Read More
2019-09-25 00:03
Business Leader’s IT decisions have a larger financial impact than they may know.
“Through 2019, EVERY dollar invested in innovation across a business will require an additional… Read More
2019-08-26 18:36
A team mentality must be brought to the contract development and negotiations phase. In too many companies, outsourcing contracts are left to purchasing, legal, and senior executives, then a… Read More
2019-08-22 22:19
Vendor management is one of is the most complex and sophisticated methods in the whole procurement process. It can seem simple when the number of vendors is small, but the complexity rocket… Read More
2019-05-29 14:43
Why is a Logo so Important?
How long does it take to make a first impression? Would you guess ten or fifteen minutes? Nope. How about seven seconds? Well I am sure that you have heard… Read More
2019-01-28 18:03
Vendor Management is the functioning center to most businesses and we really can’t live without it.
This includes IT services, office supplies, delivery services, utilities, rentals, a… Read More
2018-11-30 01:49
The expansion of digital business, growth of cloud services and increasing regulatory scrutiny of third-party vendor relationships are just a few factors placing a heightened focus on vendor… Read More
2018-10-24 19:42
Outsourcing certain jobs frees up everyone else in your business to focus on the areas they add the most value. An outsourced job usually requires a particular skill set unique to that indus… Read More
2018-10-24 18:23
Organizations should clearly define sourcing, procurement and vendor management (SP&VM) roles as well as shared objectives. In doing so they unlock efficiencies and maximize the contribu… Read More
2018-08-08 16:54
Cash Is King For Senior Living Properties
RESOURCE: https://seniorcare.levinassociates.com/2018/06/15/cash-is-king-for-skilled-nursing-targets/
Recently, an article was placed by The S… Read More
2018-08-08 16:54
Cash Is King For Senior Living Properties
RESOURCE: https://seniorcare.levinassociates.com/2018/06/15/cash-is-king-for-skilled-nursing-targets/
Recently, an article was placed by The S… Read More
2018-07-26 15:11
It happens all of the time. Clients that audit their own billing and manage their own contracts spend wasted hours trying to sort out the fees and promo plans service providers offer. In the… Read More
2018-07-02 22:12
When we stop and think about what Independence means to so many, I believe many of us forget why independent thinking is so important. Much like our forefathers did 242 years ago, they took… Read More
2018-05-31 13:42
Management is asking for DOCS – ASAP!!!
Important Agreement signed last week. You ask yourself … “Where is that Contract – I know it’s in HERE somewhere I just… Read More
2018-05-29 19:17
WHERE DO YOU SET THE MARK?
A company today cannot succeed if they are not always thinking and CHALLENGING the question “HOW CAN I MAKE THINGS BETTER”.
Ho… Read More
2018-05-03 03:43
MOST COMMON MISTAKES made by finance, legal and contract management departments …
Automatic Renewal Clauses (“ARCs”) or AUTORENEWALS can be golden for business… Read More
2018-04-28 08:03
Working with our Clients we are always amazed at some of the nonsense providers bill them for with no explanation or notification.
A recent example from one of our assisted living facilities… Read More
2018-04-04 02:58
Cost Creep. Has this HAPPENED to YOU?
Your company starts to grow, and you need more technology to keep up with additional staff, customers and to help improve process. You are aware of the… Read More
2018-03-26 21:22
Vendors taking Advantage of you? Why would they? You have this great relationship and have been working together for years, right?
Most businesses at one time or another outsource due to lim… Read More
2018-03-06 21:26
Why is Typical Vendor Spend Data not Useful?
Typical spend data is not useful to provide business insight and drive informed decision making.
In many large global operations, spend data ori… Read More
2018-02-13 21:26
4 Significant Reasons Why Your Business Should Focus on Vendor Management
Having vendors or third-party service providers is a necessary part of your business in order to operate and provide… Read More
2018-01-10 02:54
Benefits of Contract Management and Asset/Inventory Control
Contract management or Asset /Inventory Control is the management of contracts made with customers, vendors, partners, or emp… Read More
2018-01-09 23:03
Why are Benchmarks Important?
Benchmarking is a common business practice and sensible exercise to establish baselines, define best practices, identify improvement opportunities (contract rat… Read More
2017-12-14 03:34
Term Modifications.
Not only are most service agreements written where they can be changed and modified at any time, but notification of the changes is your responsibility to keep track of… Read More
2017-11-28 23:09
How can procurement and vendor management become more aligned with, and demonstrate its impact on, the main measures of business success? What impact does procurement make on a company&rsquo&hell…Read More
2017-10-23 13:36
Vendor Risk Management (VRM) is the process of ensuring that the use of service providers and vendors including IT suppliers do not create an unacceptable potential for business disruption o… Read More
2017-08-29 02:42
Measurable Results: Vendor management allows businesses to gain access to vendor performance tracking, providing spend visibility, cost controls, cost reduction results, document management… Read More
2017-08-10 20:32
Even the smallest increase in revenue or reduction in your expenses can have an impact on your company’s profitability. We would like to share 5 simple steps (some you may have a… Read More
2017-08-08 22:09
Even a slight over-charge can add up to a considerable amount over time.
No matter how corporate billing is done, it’s a mistake to think that billing today is computerized and accurat… Read More
2017-08-03 18:40
Imagine a complete inventory where all of your contracts and billings are loaded and maintained through a powerful, SECURE, personalized portal for the purpose of managing and delivering ins… Read More
2017-07-05 23:18
What is VoIP? Voice over Internet Protocol (VoIP) is a technology that allows you to make voice calls using a broadband Internet connection instead of a regular (or analog) phone… Read More
2017-06-16 20:44
With the many moving and complicated parts of expense invoices, often triggered by manual keystrokes, it is not uncommon to have errors due to inaccurate discounts, missing credits, as well… Read More
2017-05-24 02:26
Adopt a credible motivating theme: You need a rallying cry that is connected to people’s positive emotions. Therefore, it is important to obtain the support of frontline supervisors wh… Read More
2017-05-23 00:16
The Cottages contracted with Limitless Technology to audit telephone, cable television, and internet expenses, and to renegotiate and renew most of those contracts. Initially, I was hesitan… Read More
2017-05-19 22:53
Maintaining your costs under control is what sustains the survival of companies in competitive markets. In many cases there are companies still using manual processes. These manual processes… Read More
2017-05-12 17:53
How to obtain the best telecom contracts, pricing, terms & conditions. The Answer is here –
Todd Talks Expense Reduction
https://youtu.be/N7WEY-ae9s0
“When in doubt, go witho… Read More
2017-04-04 21:00
In order to negotiate corporate prices and payment terms with suppliers, you’ll need a total understanding of all relationships and spend with your suppliers across your business.
Make… Read More
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