Managing vendors during audits is not about ticking compliance boxes- it is about handling the entire process, from sending out RFPs to keeping budgets and billing in check. MATTERLINQ makes it easy by giving you the tools to stay on top of everything, ensuring clear data, smooth processes, and smart cost management.
1. RFP Management
MATTERLINQ offers specialized RFP (Request for Proposal) management features to ensure transparency and compliance in the vendor bidding process.
Centralized RFP Document Storage: Keep everything in one place- bids, proposals, evaluation criteria—so it's easy to find and manage when you need it.
Bidding Process Tracking: Track every step of the process, from invitations to final approvals, and have a clear trail ready for audits.
Evaluation Made Easy: Use collaboration tools to bring your team together for vendor reviews and decision-making, with everything documented for full transparency.
Pro Tips:
The digitized RFP process brings transparency to the whole procurement department to stay organized from start to finish with every data point in tack and extendable to the whole project management lifecycle, easy to trace.
Flag evaluation records and decisions as "audit-related" so auditors can find them easily when the time comes.
With MATTERLINQ, you can keep RFP management stress-free and one step ahead of audits.
2. Project and Delivery Management
Managing vendor projects does not have to be complicated, MATTERLINQ makes it easy to stay on top of everything from schedules to deliverables while keeping the process traceable.
Project planning and goal setting: Create project workspaces to outline vendor timelines and milestones.
Real-Time Update: Track vendor progress in real-time to ensure everything stays on schedule.
Delivery record: Save all vendor deliverables in one place and use built-in review tools to maintain quality standards.
Pro Tips:
Set up task and milestones for each project to list vendor deliverables and ties to the budgeted payments.
Turn on reminders to notify responsible parties before milestones to ensure timely task completion by vendors. With MATTERLINQ, managing projects and vendor performance is simple, efficient, and stress-free.
3. Billing Management and Payment Control
Audits often require companies to provide payment vouchers and reconciliation records for vendors. MATTERLINQ's billing management features help companies efficiently handle vendor expenses:
Centralized Billing: vendor creates invoices in the platform for specific projects.
Data Room: invoices are linked to digital deliverables for easy tracking and submitted to the project-based Data Room.
Automated Checks and Approvals: Let MATTERLINQ verify invoices against contract terms and project progress—no more manual cross-checking according to custom Billing Guidelines.
Track Payment Progress: Keep tabs on payment statuses (like paid or pending) to maintain a clear and transparent cash flow.
Pro Tips:
Pre-approve vendors’ timesheets and disbursements weekly to closely track the spending before invoicing.
Use approval workflows to make sure every payment is carefully reviewed and approved before it is processed.
Always include deliverables in the invoice validation process to ensure effective control of project progress.
With MATTERLINQ, you can streamline billing processes, ensure audit readiness, and keep clear control over cash flow—all with ease and efficiency.
4. Budget Management and Cost Control
MATTERLINQ’s budgeting tools make it easy to stay on top of vendor costs and show clear control during audits—no surprises, no overspending.
Set Budgets from the Start: Define budget limits for each project and connect them to vendor contracts.
Track Expenses in Real-Time: Match vendor invoices to your budget as you go, so you can catch potential overspending early.
Generate Reports Instantly: Create budget reports with just a few clicks to keep auditors (and your team) in the loop.
Pro Tips:
Use budget templates for each project and tie spending directly to progress updates.
Generate expense reports regularly to stay ahead of internal audits and external reviews.
With MATTERLINQ, budgeting is simple, transparent, and always under control.
5. Audit Support Features: From Data to Evidence
MATTERLINQ has you covered when it comes to keeping vendor processes traceable and audit-friendly.
All-in-One Audit Records: Every step—document uploads, changes, reviews, and payments—is automatically logged for a complete history.
Quick Report Exports: Generate detailed audit reports in no time, covering everything from RFPs and deliveries to invoices and budgets.
Smart Permission Controls: Manage access so only the right people, whether vendors or team members—can view sensitive data.
With MATTERLINQ, you can confidently navigate audits, ensuring all processes are well-organized, fully transparent, and securely managed.
MATTERLINQ simplifies vendor management throughout every stage, especially when handling audits. From RFPs and project delivery to billing and budgeting, MATTERLINQ offers easy, transparent, and compliant solutions. By maximizing its features, companies can stay audit-ready while building a more efficient and organized vendor management process, boosting collaboration and compliance.
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