What is Vendor Management?
Vendor Management System is a unique concept offering services to enhance and improvise the business operations of MNCs as well as other companies. Sourcing Solutions provides smart service support for our clients in Pan India. We make the procurement systems simple, efficient, and cost-effective by paying all their goods/services suppliers in a quick and secure manner.
Key Essentials of the Vendor Management System Services
- With GST Registrations in 20 States- PAN India, ASC is supporting its clients to avail of GST Input Credits even if a company is not registered in the State where goods or services are taken. It helps our clients reduce their operational costs on the procurement of supplies of all kinds.
- Save loss of 18- 28% GST Input Credit on outdoor activities in Hotels/ Resorts in States where clients are not registered.
Profit Oriented Payment Structure
- The Payment Term with most Vendors is generally 30 days. And if the same is reduced to payment in 24 hours by ASC Group, it will push the vendor management system to reduce their profit margins and this benefit is entirely passed on to ASC clients.
- Supply/ procurement of all kinds of goods and services can be done through ASC.
- Sourcing Solutions provides tailor-made services & solutions to meet all procurement requirements of the companies and with speed & accuracy.
- Accountability of Taxation/GST/Returns/TDS filing shifts to only one Company i.e. ASC rather than dealing with a large number of vendors.
Facilities and Payments
- The goods/services can be taken from both GST and Non-GST Vendor Management System if the payment is made through ASC.
- Facility Maintenance/ Ad-Hoc payments are also made for PAN India sites where Annual Maintenance Contracts may not take or immediate vendor management payments are needed.
- Payments direct to transport providers for client staff using cabs/ buses for official tours/ travel anywhere in India.
- Payment to vendors supporting outdoor events of ASC clients.
Petty Cash Management
- Petty Cash Management is also provided by ASC to take care of the daily purchases and Payments made by Admin on Stationary/Diesel/Electricity/Tea/Coffee/Water and for other expenses.
- Government bills being paid through ASC such as electricity bills, telephone bills, etc.
How ASC Helps?
- Responsibility and exposure, if any due to GST/ Taxation compliances or Govt. audits fall on ASC for all vendor payments process done on behalf of our clients.
- In-house assistance for matters regarding Finance/GST/Legal/Audit/HR team to deal with any situation.
- With the availability of the Corporate Payment portal, all payments are completed seamlessly with a simultaneous intimation of payment advice.
- Top Vendor management services system consultants can focus on making strategic decisions rather than spending time dealing with issues related to vendors, vendor procurement, or their payments
- ASC Group, alone vendor can eliminate the need to otherwise requirement of setting up hundreds of vendors- thus saving your cost & effort.
Frequently Asked Questions
What are vendor management services?
Vendor management services encompass professional services that focus on improvising your business operations. It allows businesses to streamline their procurement function and make it simple, faster and more efficient.
What do vendor management system include?
Vendor management system include a bouquet of professional services such as GST registration, profit-oriented payment structure, tax protection, procurement, facilities and payments, petty cash management etc.
How can vendor management service benefit us?
Vendor management procurement services provide you with in-house experts for finance, HR, GST, litigation and audits to deal with any situation that may arise. Further, we assist you with strategic decision-making to help you grow in the right direction. It frees you from the daily hassle of managing vendors, procurement functions and managing their payments.
Does vendor management service also include expense management?
Yes. Vendor management procurement services also include expense management. We help you manage your daily purchases and payments along with expenses associated with water, electricity, rentals, refreshments etc.
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