Proper management and oversight of vendors are critical to facility performance as well as meeting financial goals. In our roles as commercial project managers and facility managers, we designate a team to manage vendor oversight, the key components of which are communication, documentation, and accountability.
Using vendors not only to provide needed services such as janitorial and waste removal operations but also to contract out the duties of entire departments such as accounting and human resources can significantly reduce costs. However, it is critical to have a detailed process in place for searching out, vetting, and hiring vendors. Not having a proven process puts your company at risk unnecessarily.
As a commercial project management and facility management company, Project Solutions Group has provided vendor oversight services to clients throughout the mid-Atlantic area for nearly 20 years. Our experience in the industry places us ahead of our newer, less experienced competitors.
While each vendor may perform an entirely different task, one uniform procurement process should be used as a basis for all searches and hires. Additions can be made depending on the field in question, but some steps, such as criminal background checks, should be universal.
When putting jobs out to bid or selecting vendors, it’s crucial to have a detailed description of the scope of work. Anything that is mistakenly left out may not be included in the consideration process or the contract, and this can affect performance. We bring ideas to the table you may have never considered.
Risk management encompasses many duties within the vendor oversight process. First and foremost is protecting your company from such issues as data breaches, confidentiality violations, monetary losses, and negative publicity.
To control and mitigate risk, our commercial project management company has many checks and balances in place that we use not only during the procurement process but also throughout the contractual period with the vendors. These include monitoring performance, ensuring the services supplied are of the highest quality, and that regulations and codes are being followed to the letter of the law (and the contract).
We are able to do this efficiently and diligently with excellent results by creating a comprehensive code of conduct for all vendors that we use as a guide for performance and business practices.
The communication systems we create enable us to scrupulously oversee every aspect of vendor services and inform vendors of any breach of contract, irregularity, or perceived issue. This gives vendors the opportunity to investigate, respond to, and correct the specified inconsistency.
In the event this is not done correctly or quickly, as facility managers, we swiftly take action to protect your company from waste, exposure, or risk.
As managers of vendor oversight, we adhere strictly to the processes we create for your company, ensuring contractual and regulatory compliance in order to achieve the greatest cost savings and the highest level of efficiency.
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