5 Benefits of Vendor Consolidation for Franchisors
Sponsored Content by Xpressdocs.
As a franchisor, you know how important vendors are to your business’s success. They supply everything from components for your products to office supplies and business services. However, the more vendors you engage, the more managing your vendors becomes like “herding cats.”
Fortunately, you can make things easier for your administrative team and for your budget with vendor consolidation. Finding a trusted partner who can take care of multiple needs can help you run a more streamlined and efficient business. However, the benefits don’t stop there. Here are five reasons vendor consolidation is a no-brainer for franchisors:
Reduced Costs Across the Board
When working with a long list of vendors, business costs can escalate. By consolidating your purchasing needs to the same vendor, you have an opportunity to negotiate better pricing for various products. Also, you will have fewer costs associated with setting up one vendor in your system versus several vendors.
Rather than developing and maintaining a relationship with multiple vendors, your administrative team will have fewer contacts to manage. This leads to time savings that can filter down to your franchisees. Spending less time sorting through vendors for various materials enables them to focus on their core business.
Better Technology Integration
Working with multiple vendors can mean accessing several different technology platforms, each with their own logins and quirks. Remembering the details of each platform can be challenging, and because these systems often do not integrate with each other, your team must manually move data from one platform to the next. By identifying a partner that offers integrated technology solutions for more than one area of your business, you have fewer headaches from managing unintegrated systems to that don’t “talk” to each other.
Improved Vendor Relationships
The fewer vendors you work with, the more opportunity there is to build a mutually beneficial, long-lasting relationship. A vendor that handles more of your sourcing will be better able to anticipate your company needs and support your goals. By working with one vendor, you will be giving that supplier a larger share of revenue, which can translate into cost savings and perks for you.
Increased Visibility and Control
A great byproduct of merging vendors is regaining visibility into your supplier relationships and having more control over the areas of business these suppliers affect. When doing a deep dive into your spending or checking into a potential issue, it is much harder to accomplish with multiple vendors. However, the more consolidated your accounts, the easier it will be to have a full picture of your vendor relationships.
How Xpressdocs Can Help
Are you in need of expert assistance to consolidate your marketing, direct mail, and brand management needs? Xpressdocs, an IFA supplier, is a trusted partner for many well-known franchise brands because of our wide breadth of solutions and services that help power franchise success while maintaining competitive pricing. We can help support the local marketing efforts of your franchisees while ensuring brand consistency across locations. Our team of experts will propose a customized solution for your franchise to help save time and money with Xpressdocs.
Danielle Stiehl is Vice President of Sales for Xpressdocs. She joined Xpressdocs in 2019 as part of the acquisition of Amazingmail®, where she served as CEO and successfully brought their proprietary Automated Direct Mail platform to market.