Take 4 minutes to read this article
Are you managing multiple IT infrastructure maintenance contracts across many different vendors? You’re not alone. Many companies are in the same position, finding it difficult to navigate their many contracts and what each addresses when it comes to their assets. It can be particularly challenging for organizations to manage contract expirations and renewals without a dedicated contract manager.
These challenges lead many organizations to seek help with vendor management. Partnering with an organization like CentricsIT that provides global vendor consolidation enables your company to save time and money. This also eliminates the hassle of navigating relationships and contracts with multiple different vendors, each with their own point of contact.
The Problem with Too Many Vendors
It’s not uncommon for companies to accrue several different maintenance support contracts from different vendors as the years pass. However, as the number of vendors starts to climb, it can be a struggle to successfully manage them. This can easily turn into a logistical and even financial nightmare.
Contract Lapses
You need to make sure that you are renewing your maintenance contracts in advance and with the correct vendor. When you have 100+ contracts to navigate, it takes time and effort to keep up with the renewal dates.
There’s also the challenge of dealing with many different points of contact, which can be difficult to keep organized and up to date. Unfortunately, this can lead to expired contracts and lapses in coverage. These can negatively impact your business.
Increasing Expenses
Cost management is another issue that comes with dealing with multiple vendors for multiple contracts. With so many different contracts to keep track of, it’s difficult to ensure that your organization is getting the most out of each project contract.
With these challenges, many organizations find it almost impossible to take advantage of special deals and promotions or make sure that they are only paying for the services or service coverage that they need.
Management Burden
If you do not have support personnel dedicated to contract management, navigating these different vendor relationships can put strain on your management team, who must take time away from their day to work on various projects. When you need your management team to focus on the business, juggling a consortium of vendors shouldn’t be added to their list.
Consolidating your maintenance contracts and your vendors enables your management team to focus on what they do best: help the business grow.
A Real-World Application: How Global Vendor Consolidation Impacts Your Bottom Line
Consolidating your vendors has a positive impact on your company’s bottom line. In addition to saving you money by reducing costs, it also saves your team from the time and headaches spent managing multiple contracts across vendors. Consolidation gives significant time back to your team so that they can focus on more strategic tasks.
That’s why many organizations choose to partner with experts who can help them better manage their maintenance contracts and vendor relationships. Partners like CentricsIT make it easy for organizations to simplify their maintenance support processes, resulting in significant time and cost savings across the board.
The Pruning Process
How do we do it? Let’s look at our real-world process that helps organizations like yours eliminate unnecessary spending and accurately establish coverage information for hardware:
- First, we conduct a full systems audit of an organization’s units to establish what units they have, which vendors cover each unit, and what the contract life cycles look like.
- Then, we strategically work to consolidate all the vendors and contracts into a more simplified model to help the organization save time and money. When possible, we co-term contracts to renew at the same time so that you don’t have to keep up with staggered renewal dates. Our team also looks for bundled opportunities that help your business save money.
- Finally, we streamline your project contracts, so your business can enjoy the benefits of more efficient, economical bundled delivery. By avoiding the complexities and hassles involved with multiple vendors and contracts, your business can save hours of time and millions of dollars through vendor consolidation.
This tested process has enabled us to help a variety of organizations streamline their maintenance contracts and project workloads improving their speed to delivery and reducing their overall IT spend. For just one example of our vendor consolidation services in action, check out how CentricsIT helped a National Payments Processor consolidate 150+ contracts down to just 12.
CentricsIT Helps You Simplify and Consolidate
CentricsIT is a global leader in IT lifecycle management. We have an extensive international network of strategic hardware and engineering resources—resources that enable us to act on your organization’s behalf to perform procurement, maintenance, and disposition across the globe.
With our services, you also have the peace of mind in knowing that you have one point of contact for your contract with a single payment schedule. Additionally, our maintenance contract consolidation services take the hassle out of navigating multiple vendor contracts, giving you time to focus on your core business.
Simplifying and consolidating your services can have a significant impact on your bottom line and help you save more money over time. We leverage our industry knowledge to ensure you take advantage of every discount and get the right mix of support with your business.
Too many vendors can cause you headaches. Reduce your overhead, deliver faster, and save with CentricsIT.
