Internal Audit is about driving efficiency, effectiveness and control in the business. In the HR Supply Chain, opportunities abound in vendor management processes and resulting vendor performance.
The second largest expenditure for most organizations is the cost of employee benefit plans. All companies, regardless of size or industry, need to control these costs. Most companies lack the internal resources and experience necessary to properly manage their HR Supply Chain. Vendor management is critical to:
- Increasing efficiency
- Holding vendors accountable
- Improving existing relationships with current vendors
At Optimatum, vendor management is what we do. Through improving relationships with your existing vendors and in depth analyses of your current plans, we address the “leaky faucets” of your outsourced services. This allows us to create, implement, and monitor a comprehensive action plan to help better manage your agreements and expenses. These savings will drive efficiency, increase margins, and provide liquidity for investments in infrastructure or market expansion.