Allows foodservice operators to ensure they are capturing the full value of their contracts
Service Systems Associates has selected iTradeNetwork’s Spend Management software that will provide Service Systems Associates’s 25 food and beverage locations a solution to control costs through purchase management, contract compliance and rebate tracking.
iTradeNetwork (ITN) said that its Spend Management software is a web-based, hosted software that allows foodservice operators to ensure they are capturing the full value of their contracts by monitoring and enforcing unit purchasing compliance, while identifying contract price variances, purchases eligible for rebates, stock keeping unit and manufacturer rationalization and other cost-saving opportunities.
ITN also said that Spend Management automates the collection, standardization and enrichment of unit-level invoice data from distributors, eliminating time-consuming and error-prone processes. The information is then presented in an intuitive application that allows food service professionals to ‘manage by exception’, leveraging dashboard and alert capabilities that highlight exceptions and opportunities for additional cost savings, noted ITN.
Tim Brantley, senior vice president and chief operations officer of Service Systems Associates, said: ITN is a critical component in our supply chain initiatives to build scalable systems and processes that support our strategic growth plan over the next three years. The best practices that ITN developed to support their existing operator customers will get us up and running quickly and give us the tools we need to compete in this challenging market.