SpendMend’s Vendor Management Services (VMS) helps hospitals take control of vendor relationships and eliminate gaps in the P2P process.
Even with strong internal controls, the P2P process is vulnerable to blind spots—especially when managing a large network of vendors. These communication gaps, though unintentional, create dark data that result in unseen costs, risks, and liabilities.
The SpendMend Solution
SpendMend’s Vendor Management Services (VMS) helps hospitals close costly gaps in the Procure-to-Pay process. With smart technology and targeted vendor engagement, VMS uncovers hidden liabilities, boosts working capital, and delivers savings—without adding work for your team.
Features of SpendMend VMS
Low-Touch Integration
Seamlessly connects to your systems with minimal IT
OCR Engine and Logic
Automatically extracts, validates, and organizes invoice data for accuracy
Vendor Communication Hub
Automates vendor outreach and expedites resolutions
Integrated Workflow Portal
Tracks and manages invoices with clear workflows
Targeted Liability Review
Finds unpaid invoices, RNI issues, and vendor file gaps
Working Capital Tools
Improves terms and cash flow, and captures discounts
Benefits of SpendMend VMS
Stronger Vendor Relationships
Improve collaboration with timely, accurate payments
Financial Visibility
Uncover liabilities and costs that were previously hidden
Enhanced Cash Flow
Optimize payment timing and working capital strategies
Reduced Credit Risk
Avoid credit holds by resolving aged or missing invoices
Less Manual Work
Automate manual workflows to boost efficiency and free up staff time
Discounts and Rebates
Capture missed opportunities and increase savings
The Role of Dark Data
Dark Data refers to critical business information that is inaccessible or unstructured, limiting visibility and strategic decision-making. Left unchecked, it leads to financial leakage and missed opportunities. For over 30 years, SpendMend has illuminated dark data, uncovering control gaps, reducing costs, and recovering lost revenue.
SpendMend VMS enables you to take better control of critical procedures for key targeted vendors:
- Unrecorded Liabilities: SpendMend reviews your paid history, your open aging reports, and your vendors’ receivables to identify unpaid invoices (for targeted vendors) with unrecorded liabilities that have aged past 90 days.
- Vendor Master Records: SpendMend provides an in-depth review of your vendor master records to sanitize inaccurate data and augment missing data while at the same time, helping you to identify and properly reclassify aged and duplicated vendors.
- Received Not Invoiced (RNI): SpendMend reviews and investigates open items on your Received and Not Invoiced (RNI) report to assist you in the reconciliation of transactions that have aged greater than 90 days.
- Working Capital: SpendMend provides reporting on payment terms, payment days, credit days and more. SpendMend applies benchmarking to help you drive working capital enhancements including optimized payment vehicles (ACH, Credit Card), prompt payment opportunities, discount applications, and more.
Our Mission Is To Help You With Your Mission
Our mission is to positively impact patient care by delivering value to our
healthcare clients through innovative cost-savings solutions, insightful
transaction analysis, and improved process visibility.