How It Works: MainStreet Procurement
Understanding MainStreet's Procurement program
In this article:
- What is Procurement?
- Getting started with MainStreet
- How to get the most out of Procurement
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What is Procurement?
In the broadest sense, “procurement” is the process of buying anything you need to run your business. Fortune 500 companies have expert procurement teams devoted to sourcing and buying things, saving companies hundreds of millions of dollars every year with deep research and expert negotiation.
For growing companies, this is rarely the case. When it comes to budgeting, we tend to rely on a “set it and forget it” attitude for recurring expenses. One less thing to worry about, right?
In reality, these auto-renewed contracts can cut into your budget without you realizing how much you’re actually spending. Luckily, that’s where MainStreet Procurement comes in. Outsource your vendor contracts to our professional team and we’ll handle every aspect of your negotiation needs, saving you time and money on the services your business runs on.
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Getting started with MainStreet
When it comes to growing your business, we know your needs aren't one-size-fits-all. That's why we built a product that can serve you as you scale. To get started with Procurement, simply login to your MainStreet dashboard and start searching for the vendors you spend the most on. Once you’ve selected the vendors you wish to renegotiate, you’ll be prompted to answer a few questions and submit your answers along with your current contracts.
Once submitted, our team will review your information. If your contract is set to renew in the next 60 days, one of our negotiators will contact you and get going on your renewal. Contracts set to renew in 60-90 days are queued, meaning we’ll reach out a bit closer to your renewal date to start the negotiation process.
For every negotiation, one of our savings specialists will step in and work directly with your vendor to lower your costs. We'll take care of all the back-and-forth and then pass the new terms onto you. The vendor will send you an updated contract. All you need to do is sign.
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How to get the most out of MainStreet Procurement
Our savings specialists are most effective when handling contract negotiations of $5,000 or more. Submitting these contracts regularly will help you utilize our services year round and keep you on track and under budget.
That said, we know that some of your contracts may not fall in the $5,000+ category. As a MainStreet Procurement customer, you automatically gain access to additional deals on products and services you use every day. With our exclusive partner savings, unlock hundreds of pre-negotiated deals with the click of a button, all from your MainStreet dashboard. Saving as you scale has never been easier.