For senior living operators, pricing and purchasing is often a losing game. To put the odds in their favor, operators are finding inspiration from an unlikely source: casinos.

Like senior living operators, casinos source their purchases from a wide variety of suppliers. Managing that complexity requires a system for tracking purchases and pricing, the ability to audit deals from every manufacturer or distributor and ensure that each deal is executed correctly.

To address this challenge, casinos are turning to InsideTrack, a leading data and spend management company serving a wide range of foodservice segments. It’s the biggest thing in casinos for spend management.

And it’s making its way to senior living.

InsideTrack transforms procurement processes by providing operators with organization, transparency and actionable insights, helping them navigate the complexities of purchasing with greater efficiency. Since PRIME Services and InsideTrack share a parent company, operators working with PRIME Services can leverage InsideTrack technology to optimize their purchasing, giving them enhanced efficiency and unprecedented visibility.

“Our experienced team creates a white-glove service for our customers,” says Vice President of Sales John Miko, formerly of U.S. Foods. Like the Waze of purchasing, InsideTrack captures all invoice data, from multiple distributors, and then cleans and normalizes it to maximize contract compliance and rebates. This data driven technology is now available to PRIME’s senior living members.

“This is the next best thing to come to senior living,” Miko says.

Nine services that give senior living the InsideTrack to savings

Much like casinos, senior living operators manage a wide range of purchases from numerous vendors. To gain a competitive edge in these transactions, operators are increasingly turning to data-driven solutions. InsideTrack identifies optimal products that align with your culinary team needs, reducing costs and enhancing resident satisfaction.

Here are nine key services from InsideTrack:

1. Price Auditing: Their AI software finds the inconsistencies that are costing you money and handles the process from overcharge to credit on your statement.
2. RFP Management: InsideTrack allows operators to organize all their RFP responses in one location, comparing pricing from vendors.
3. Custom Purchasing Alerts: Operators can save valuable time by receiving notifications on a wide variety of changes, charges and increases.
4. Contract Management: The system will load every operator’s contract and provide insights into contract spend to allow a customer to maximize every contract. 
5. Real-time Analytics: Operators gain insights and business intelligence about their purchases to drive smart decision-making.
6. USDA Market Tracker: This gives operators instant access to USDA markets, letting them compare their commodity pricing to market prices.
7. Distributor Inventory: Users can gain vision into their distributors’ inventory system to stop supply chain issues before they happen.
8. Food Service Incident Management (FSIM): When quality issues arise or miss picks happen, FSIM automatically starts the process of securing refunds.
9. Order Guide Compliance: Operators can easily understand items added, dropped and even price increases or decreases.

One big tip for senior living operators

Put it all together and operators gain a level of transparency and insight into their spend that other group purchasing organizations — GPOs — rarely offer.

“One of the cool things about this is that it’s aligned to PRIME Services,” Miko says. “All of our deals that are available in our GPO offerings are loaded into InsideTrack, so everything is transparent for the customer. It is not common in senior living that your GPO will share your deals with you.”

“We strive to be transparent and bring the greatest level of cost savings and data driven purchase optimization in the industry,” Miko says. 

This article is sponsored by PRIME Services, part of the Buyers Edge Platform of companies, along with InsideTrack. Reach out today to learn more about how aligning your Spend Management Tool and GPO offerings can be a game changer and visit us at primeservicesinc.com.