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Case Study 2: Revolutionizing Vendor Compliance for a Facility Maintenance Company
Elevate CX
Case Study 2: Revolutionizing Vendor Compliance for a Facility Maintenance Company
Client Overview:
A prominent facility maintenance company specializes in managing the maintenance needs of large retail clients. Their operations involve a vast network of third-party vendors, including plumbers, electricians, HVAC specialists, and handyman. However, they faced significant challenges with vendor compliance.
Challenge:
The company struggled with incomplete and missing compliance documentation from their vendors, posing risks to operations and client relationships:
- Inadequate Documentation: Many vendors lacked necessary compliance documents, such as licenses and insurance, jeopardizing the company’s ability to meet contractual obligations.
- Operational Risks: Non-compliance could lead to service disruptions, legal liabilities, and damage to the company’s reputation with retail clients.
- Vendor Management Issues: The existing vendor database was not efficiently managed, resulting in difficulties tracking compliance statuses and timely follow-ups.
Solution:
Transform Targets implemented a comprehensive vendor compliance program that included:
- Documentation Verification: We established a thorough documentation review system, ensuring all required compliance documents were collected, verified, and securely stored for each vendor.
- Proactive Follow-ups: Our team conducted regular follow-ups with vendors to ensure they submitted the necessary documents, guiding those who failed to comply and suspending non-compliant vendors.
- Sourcing New Vendors: To address service coverage gaps, we proactively sourced new vendors that met compliance standards and could fulfill the company’s maintenance needs.
Results:
- 30% Increase in Compliance: Within six months, we helped the facility maintenance company achieve a significant increase in compliance rates among their vendors.
- 100% of Existing Vendors Called: Our team successfully contacted all existing vendors to verify compliance statuses.
- 20% New Vendors Sourced: We sourced new vendors who were compliant and could meet the company’s operational needs.
- Enhanced Vendor Relationships: Improved communication and compliance processes strengthened relationships with existing vendors and facilitated the onboarding of new, compliant vendors.
Key Takeaways:
- Maintaining a comprehensive vendor compliance program is essential for operational integrity and client satisfaction.
- Proactive vendor management and regular follow-ups ensure compliance requirements are met.
- Sourcing new compliant vendors enhances service delivery and mitigates non-compliance risks.
