Gain Increased Customer Lifetime Value.
COSEKE’s vendor management solutions help organizations select the right vendors; categorize vendors to ensure the right contracts and relationships, determine the ideal number of vendors; mitigate risk when using vendors in order to gain increased value throughout the contracts life cycle.
This can help organizations meet business objectives, minimize potential business disruption, avoid contracts and delivery failure, and ensure more-sustainable multi sourcing, while driving the most value from their vendors. COSEKE’s vendor management system focuses on best practices for managing vendors in four key areas: contracts, performance, relationships and risk.
Recognize that a Vendor Management solution is essential to organizations in regard to ensuring that the use of external third-party contractors delivers solutions that bring favourable professional outcomes. This should be an enterprise wide initiative involving all departments including procurement, finance, marketing, sales, HR and operations to ensure a consistent approach to vendor management is adopted across the organization.
Our vendor management solution helps organizations monitor and manage vendor risks as an ongoing procedure. Go beyond financial viability to include business continuity, corporate and regulatory compliance to have increased peace of mind.
COSEKE’s Vendor Management solution will enable regular assessment short- and long-term financial, operational and compliance risk in the vendor portfolio. This helps the organization avoid being blindsided by a vendor’s financial, business continuity and/or performance failures.