When Finance, IT, and Operations teams work in silos, vendor management becomes chaotic: surprise renewals, unclear ownership, and wasted spend. Here’s how to build a shared process that scales.
Common Challenges:
- No central record of contracts
- Duplicate or unused tools across departments
- Confusion about who owns what
- Last-minute renewals with no time to evaluate
A Smarter Framework for Alignment:
1. Create One Source of Truth
Centralize vendor contracts, renewal dates, and spend in one shared system. Everyone should have access to the same data.
2. Define Roles and Responsibilities
- IT: Tool functionality and user access
- Finance: Cost oversight and budgeting
- Ops: Process efficiency and vendor relationships
3. Build in Visibility
Use a platform that lets all teams see upcoming renewals, usage data, and who’s responsible.
4. Automate What You Can
Set renewal alerts, assign workflows, and track usage. Manual spreadsheets don't scale.
💡 BetterTracker makes it easy for SMB teams to align around vendor and IT spend.
Visualize contracts, streamline ownership, and stay proactive about renewals — all in one tool. Request a demo to get a live walk-through.
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