Confronting Barriers to Efficient Vendor Management
Managing vendors, both legal and non-legal, is a complex process, often requiring access to disparate systems to obtain current and relevant vendor information. Relying on multiple systems is complicated, and causes difficulty in tracking and maintaining vendor information and compliance records. This lack of visibility and clarity can make it hard to effectively control costs. Unreliable data and metrics that support your vendor selection process can compound the problem, impacting performance, quality, and compliance status. That’s why forward-looking claims organizations rely on a single, centralized SaaS solution to optimize vendor management – eliminating the complex and unreliable process of searching across many different platforms.
The Problem
Claims organizations of all sizes need to have efficient processes in place to effectively manage their claims vendor network. However, many organizations lack a centralized location to access relevant and required vendor information across their claims vendors. In addition, it’s common to struggle with tracking and maintaining up-to-date vendor information, which may result in working with vendors who are out of compliance with your internal policies. Finally, claims organizations often lack ready access to meaningful data and insights to improve their current vendor relationships—and lack visibility into out-of-network vendors, which can hamper the ability to expand into new regions. The end result? Increased costs and risk and decreased opportunities.
The Solution
Bottomline’s PartnerSelect Manage, a vendor management solution, provides claims organizations with a single, centralized SaaS offering that helps track and proactively manage all vendor relationships.
PartnerSelect Manage helps ensure vendor compliance while also providing visibility and actionable insights into both in-network and out-of-network vendors. With PartnerSelect Manage, you can increase efficiencies while confidently controlling costs and risk. And because PartnerSelect Manage was designed to build on the effectiveness of Bottomline’s Legal Spend Management suite, it is quickly and easily activated.
Download the datasheet to see how PartnerSelect can help.
