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The Connected Workplace Guide to Better Vendor Management

Thought Leadership
Aug 18, 2020
By Leslie O'Connell

In this guide, you’ll learn:

  • How much easier vendor management is with a Connected Platform
  • Client Successes in the Connected Workplace
  • Specific vendor cost savings you can only get from the Connected Workplace
  • And much more

 

Chapter One: What’s wrong with your vendor management system?

Chapter Two: Built on ServiceNow

Chapter Three: Sharing the Platform with Your Vendors

Chapter Four: The Connected Workplaces’ Superior Advantage

Chapter Five: The Awesome Analytics

Chapter Six: Learn More

 

Chapter 1: What’s Wrong with Your Vendor Management System?

Still today, many companies are using a combination of paper, spreadsheets, and email. This requires frequent manual intervention, physical data input, and time-consuming clarification phone calls. The results are inefficiencies, errors, and poor decision-making. Sadly, vendor management best practices can’t be followed with such a disconnected process.

You might be thinking, ‘I have vendor management software, so I’m all set.’ Maybe not. Vendor relationship management relies on creating a trusted vendor process. That can’t be done with a disconnected, outdated system.

Managing hundreds of vendors on siloed software is cumbersome, time-consuming, and full of inaccuracies. Analyzing and reporting on vendor performance is virtually nonexistent, while integrations with existing financial systems are clumsy, at best.

Stand-alone vendor management software is not the answer. In today’s competitive marketplace, your vendors need to be trusted partners. You need transparency; with transparency comes more productivity and measurable cost savings.

A solution built on your corporate enterprise platform, shared with your vendors, is the answer. That’s Nuvolo’s Connected Workplace.

 

Chapter Two: Built on ServiceNow

Nuvolo’s Connected Workplace is built on ServiceNow, one of the world’s leading enterprise cloud platforms, giving you unprecedented availability, security, flexibility, and performance. Nuvolo’s platform leverages the exceptional ServiceNow architecture and provides you with:

  • User-configurable executive-level reporting and analytics
  • Click-to-configure forms to enable faster time-to-market
  • Click-to-configure workflows, so our solution adapts to your process, not the reverse

Nuvolo’s Connected Workplace Platform also includes solutions for Maintenance, Space, Projects, Real Estate, and Sustainability. The connected platform alleviates vendor risk by giving all your facilities teams access to the same vendor data, on the same platform, sharing the same database.

ServiceNow provides IT, SecOps, Customer Service, and HR service management to its customers, allowing you to expand on the connected platform. And, integrations with ERP, financial, and procurement systems are simple.

 

Chapter Three: Sharing the Platform with Your Vendors

With Nuvolo and ServiceNow, you can create a connected workplace and realize significant advantages to your vendor management program. The key to success is sharing the platform with your vendors.

They complete the assigned work directly from the mobile application, submit invoices, and track their performance. Vendors can also create subcontractor access to the portal, consolidating all work (and data!) into a single location, whether it’s completed by the vendor or the vendor’s vendor.

Having your internal and external technicians working from the same platform captures all equipment work history in real-time and results in overall better vendor management. Your vendors will be more efficient, your equipment work order history will be amazingly accurate, and your data will be incredibly useful.

Vendors sharing your mobile app will also have:

  • Online and offline access to work orders
  • Geolocation of technicians in the field
  • Geofencing of technicians based on coverage areas
  • Geolocation based check-in and check-out when onsite at a physical location
  • Barcode scanning of assets
  • Voice to Text for work order updates
  • Ability to attach photographs or attachments to work orders
  • Electronic signatures on work orders

 

Chapter Four: The Connected Workplaces’ Superior Advantage

Nuvolo’s Connected Workplace is all employees, all physical locations, all assets, and all business services – all aspects of your enterprise service management – on one platform. When running a vendor management program, the advantages of a one platform solution are compelling. Here are the main ones:

 

Accurate Equipment Inventory and Management

If you’re relying on the vendor to update you when they fix your equipment and you’re manually updating your software or spreadsheet, your data will probably be wrong or missing.

A connected platform means your tracking vendor information on the same platform as your asset management software. Think about that for a minute; your vendors have access to and update your equipment maintenance on the same platform. This provides valuable analytics to your organization.

Reliable and consistent tracking of all critical equipment and assets is one of the foundations of a well-run facilities program. When you have your vendors share your platform, it results in an impeccably accurate asset database.

As they update their work orders on your mobile app, they capture the equipment service history you would otherwise be missing.

 

Fast and Accurate Corrective Work Orders

Work is done faster when vendors share your platform. They have instant access to service manuals, knowledge bases, spare parts inventory, training videos, and more.

The mobile app has navigation maps and interactive building floor plans for easy navigation to any location and asset. And wayfinding searches will find any person, place, or asset location instantly.

When assets, vendors, and work data are captured on one platform, you can create smart dispatching. Smart dispatching uses workflows and business rules to automate and automatically route work orders to the right vendor at the right time. Getting your equipment fixed fast is automation at its best.

 

Well-Designed Preventive Maintenance Programs

On the connected platform, you have the asset and vendor data to design a well-structured preventive maintenance plan. And, smart dispatching can automate preventive work orders based on location, certifications, vendor preference, etc.

Your vendors can be assigned checklists when performing periodic inspection tasks, such as safety equipment inspection or custodial rounds. If a checklist item fails, the technician can submit a corrective work order in real-time from the mobile app.

Creating an automated and intelligent preventive program with your vendors will keep facilities clean and your equipment well-maintained. Keeping your assets well maintained will save time and money, and help avoid emergency equipment breakdowns.

 

Chapter Five: The Awesome Analytics

When you have all vendor, work, and equipment data shared on one platform, you’ll design powerful analytics to meet your business objectives.

You’ll have reliable data to analyze equipment management trends and vendor performance. You can;

  • Build dashboards to understand each vendor’s work. Figure out which vendors provide the best value.
  • Prepare vendor risk assessments and take relevant actions for risk management compliance.
  • Be ready to negotiate vendor contracts from a position of data and business intelligence. Create detailed reports such as;
    • Achieved Service Level Agreements (SLAs)
    • Breached SLAs by Vendor
    • Percentage of Preventive Work Orders Closed on Time
    • Work Order Parts Cost per Vendor
    • Work Order Travel Cost per Vendor
    • Service Turnaround Time, Preventive Maintenance Status by Vendor
    • Life Cycle Contracts Spend

Nuvolo’s customers have turned their vendor process around and achieved incredible results. Here are just a few examples:

  • A large convenience store customer reduced critical equipment replacement time from 15 days down to less than five days, targeting three days by 2021.
  • That same client dispatches technicians within seconds of someone reporting a critical device problem. They’re able to do this with smart dispatching.
  • A grocery store client saved over $75,000 annually after implementing Nuvolo and finding many vendor overcharges.
  • A financial technology firm saved 20,000 technician hours/year by fixing issues faster.
  • Our data center services client saved over 50 hours per month investigating device performance for compliance auditing. It’s now an automated process, and reports are generated with ease.

 

Chapter Six: Learn More

When you implement a vendor management solution that provides exceptional facilities and equipment management, you create a streamlined and transparent vendor program.

Here are some links to learn more about Nuvolo’s Connect Workplace and our Vendor Management solution.

Blogs:

Data Center Vendor Management and The Domino Effect

Zen in The Connected Workplace

The Top 3 Reasons You Need The Connected Workplace for Vendor Management

Videos:

How 7 Eleven Transformed Facilities Management

What is The Connected Workplace?