In this installment of our Advisory Workshop series, members of our Advisory team will discuss how you can leverage LogicManager’s Vendor Spend Management Solution.

In today’s economy, cutting costs is at the forefront of almost every organization’s initiatives. And an organization’s vendor list is one of the first areas to come under that cost-cutting scrutiny. Yet, reliance on third party relationships is unavoidable. From cloud service providers to SaaS applications to vendors providing critical resources, all enterprises rely heavily on vendors to successfully provide their products or services to customers. Cutting vendor relationships in the name of cutting costs could result in catastrophic damage to your organization’s ability to conduct business as usual. How then, can you confidently manage vendor spend without negatively affecting your enterprise’s most critical lines of business?

LogicManager’s Vendor Spend Solution helps enterprises take a risk-based approach to third party relationships by identifying critical areas of the business and the third parties they rely on to function. In identifying these relationships, enterprises can ensure their third party spending aligns with the organization’s critical needs. They can also identify opportunities to leverage existing relationships and save money where existing contracts are no longer necessary.