Vendor of Record Services
CPGIO’s Vendor of Record setup includes the establishment of a new bank account as needed, sales tax service, reporting template, testing, and overview of reconciliation procedures. Once banking and sales tax accounts are provisioned, implementation of configurations and testing is provided.
Our Vendor of Record Services Get You Up and Operating Quickly
Integrate your established Seller Central account into CPGIO’s eCommerce fulfillment system to leverage advanced hybrid FBA and FBM prep and sales strategies. CPGIO’s Vendor of Record setup includes the establishment of a new bank account as needed, sales tax service, reporting template, testing, and overview of reconciliation procedures. Once banking and sales tax accounts are provisioned, implementation of configurations and testing is provided. Learn how our vendor of record services seamlessly integrate with your omni-channel presence.
Elevating Procurement with Vendor of Record Services
Navigating the complexities of maintaining multiple vendor relationships can be a daunting task for any organization. Our Vendor of Record services simplify this process, providing a streamlined approach to managing supplier interactions, ensuring compliance, and maximizing cost-efficiency.
Streamlined Vendor Enrollment and Compliance
Initiating a smooth vendor onboarding process sets the stage for successful, long-term collaborations. We meticulously vet all suppliers, ensuring they meet your specific compliance standards and share your commitment to quality and efficiency.
Simplifying Procurement Processes
By consolidating your vendor lists into a single, manageable Vendor of Record model, we help eliminate redundancies, reduce administrative strain, and secure better pricing through aggregated volume discounts, all while maintaining the high standards your organization expects.
Robust Vendor Performance Management
Effective vendor management transcends initial agreements. Our services include comprehensive performance assessments, ensuring that every vendor not only adheres to contractual obligations but also aligns with your organization's strategic objectives and cultural values.
Ensuring Transparency and Ethical Standards
Transparency is fundamental in vendor relations. We establish clear communication channels, promoting ethical practices, and providing insights into vendor operations, thus preventing conflicts of interest and fostering an environment of trust and mutual respect.
Centralized Contract Management
Efficient contract management is crucial in Vendor of Record services. Our systematic approach centralizes all vendor contracts, facilitating easy access, tracking contract milestones, and ensuring adherence to terms, conditions, and renewal dates.
Risk Mitigation and Crisis Management
With a thorough understanding of vendor operations, we are equipped to anticipate potential risks. Our proactive strategies for crisis management mean that, in the event of disruptions, contingency plans are promptly activated, minimizing impact on your operations.
Financial Efficiency and Cost Management
One of the primary advantages of a Vendor of Record system is financial efficiency. By negotiating contracts, scrutinizing pricing structures, and providing detailed expenditure reports, we help you maintain control over costs without compromising on quality or service delivery.
Vendor Relationship Sustainability
Beyond the mechanics of contract management and compliance, we focus on cultivating positive, sustainable relationships with vendors. By understanding their business models and challenges, we foster partnerships that are both productive and mutually beneficial.
Basic Vendor of Record Services
The Vendor of Record (VOR) arrangement means CPGIO will assume all accounting, financial, and tax liabilities.
The VOR service routes all sales revenue through CPGIO's banking system. Basic VOR service includes one channel. To implement this service, CPGIO must utilize custom sales tax software, provision new bank accounts, set up merchant services, and execute a specialized reconciliation procedure each month to ensure all liabilities, transactions, and reports are accurate.
Advanced Multichannel Vendor of Record Services
The Vendor of Record (VOR) arrangement means CPGIO will assume all accounting, financial, and tax liabilities. The VOR service routes all sales revenue through CPGIO's banking system. Advanced VOR service includes multiple channels. To implement this service, CPGIO must utilize custom tax software, provision new bank accounts, set up merchant services, and execute a specialized reconciliation procedure each month to ensure all liabilities, transactions, and reports are accurate.
Vendor of Record Payment & Subscription Addons
Additional VOR services include subscription, VOR reconciliation, reporting, and connecting additional payment gateways such as Stripe and authorize.net to give you the full payment gateway and advanced reporting, accounting, and compliance that play a crucial role as your brand grows.
Engage with Strategic Vendor Management
As your Vendor of Record, we take on the intricate responsibilities of vendor management, allowing you to focus on core business functions. Reach out today for a consultation, and let's explore how our services can provide strategic, cost-effective solutions tailored to your operational needs.
Streamlining vendor management through a Vendor of Record approach not only enhances operational efficiency but also strategically positions the organization to adapt to market changes, drive innovation, and optimize overall expenditure and resource allocation.
Vendor of Record Services Key Features & Benefits
A proven process enables CPGIO to turn this service around quickly.
Project Manager Included
This service requires a dedicated project manager to track action items and timelines.
This services includes benchmarking, trackable KPI’s and measurable results.
Featured Case Study
Rapid & Scaled Growth Across eRetail Channels
CPGIO was chosen as Hershey Garage D2C Think Tank Partner. The Hershey Garage (THG) Model is a hybrid venture-building approach. With participation from the various functional groups within Hershey, the model was the primary incubator to test and develop disruptive, early-stage ideas and products.
Joe Smith, COCO5
CPGIO has been indispensable in helping COCO5 build a leading Amazon Brand in the drink and wellness category. Their speed, attention to detail, and willingness to make things better is why they’re so awesome.
Jeff Whitehead, McCormick
CPGIO was able to get 25K influencer orders out within 2 days for us.