Expense Management - Overview

Vitex will suggest where your company needs to be in the future and what innovative technology will be required to get there. Key technology areas supporting Purchasing / Accounts Payable may include: purchasing cards, imaging of documents, electronic work flow solutions, web-enabled input of information for receipts and approvals, electronic travel and expense reimbursement system, bar coding of documents, and summary.

Sourcing and vendor leveraging is where your company can make significant expense reductions. Our new objective for sourcing activities tends to be more high level and analytical and less tactical and
paper intensive than traditional purchasing. The primary focus is on "deal making," tight contracting (covering quality, cost, service issues), and monitoring and tracking of performance. Vendors must be classified as:

• Strategic Partners - vendors that are very dependable and work well with your company in providing long-term business solutions. They have an exclusive relationship with your company that is key to the delivery of specific results that will help your company to achieve its long-term business plan.
  
  
• Commodity-type Vendors - vendors that service your company well in the delivery of specialty goods or services. Typically these vendors win your company's business via competitive bidding processes and are placed on a preferred vendors list. These vendors are important to your company in meeting its annual business objectives.
  
  
• Process delivery Vendors - vendors that fill the spot market basis and generally are volume type or on "as needed" basis.