3 Benefits of Spend Management Technology
At InsideTrack, we make managing your spend a swift and effortless process. While your operation is spending thousands of dollars, it’s also generating vast amounts of data every minute you’re making any sort of action for your operation. The important part is putting that data to use.
When you put your purchasing data to good use, you open the door to better decision making. By leveraging clean data, your operation can identify savings in every area of your operation. The only way to accomplish getting clean data is by utilizing the power of technology – InsideTrack technology.
Let’s take a look at 3 benefits of using Spend Management Technology as an InsideTrack Member:
Analyzing and negotiating your contracts can save your operation thousands of dollar each year, but the process of doing so is time consuming and leaves room for human error. Reliable contract management technology is fundamental to saving both time and money.
At InsideTrack, we help you stay on top of all your contracts. Your contracts are housed in one centralized location so that you can easily access them, ensure renewal dates are not missed, so that you can maximize the value out of each contract. We even keep you updated on price changes, new charges, and discrepancies.
The truth is, you don’t have time to sit around and audit every line on every single one of your contracts. Our software finds the inconsistencies that are costing you money and automatically gives you a solution – a reimbursement process. With the help of spend management technology, you can eliminate errors and increase your efficiency so that you’re not over paying and are actually aware of what each contract entails.
Supply chain management plays a crucial role in helping you make well-informed, impactful decisions, but manually navigating the supply chain has always had its challenges. These days, it seems to be the root to many operator problems.
Our supply chain management technology gives you up to date insights into the present state of commodity prices to help you understand the market and make more proactive decisions. You have instant access to the USDA Markets so that you can compare the prices you’re currently paying.
Our Artificial Intelligence helps you switch and save by recommending product matches that offer you better savings. When quality issues arise, our quality incident management helps secure replacements and refunds. Easily search for and find the products you need for your operation with our supply chain management technology.
As long as you’re an InsideTrack member, we can help you with managing your rebates – and even find you new ones. As long as you offload your direct rebate filing to us, you’ve done your part. We’ll make sure each of your rebates are verified, allocated by location (so that you can accurately track your food costs), and correctly paid.
You can track the status of all your rebates so you can understand which ones are active, expired, or in need for renewal. We automatically calculate and file your rebates directly with manufacturers, so the burden is no longer yours. Our rebate management technology is here to take the labor right out of the rebate process.
With payment allocation, all of your rebates are tracked back to their appropriate cost centers so that you get insight into accurate food cost reporting. At InsideTrack, no rebate goes uncollected.
At InsideTrack, we have all the tools to help you manage your spend to ensure you’re saving your operation both time and money. With technology to help you organize your contracts, supply chain management, and rebates, you’ll be sure to make smarter business decisions.
Put time back into your day and let us take the load off your plate — so that you can put some food on your customers’ plates!