With procurement departments finding themselves lean and mean these days, where are you spending gaps? Are you leaving money on the table? You might be, so what are you going to do about it. Some of your biggest savings lie within your nuisance expenses like uniform, waste disposal and pest control services and you may be like many other procurement departments that only review these expenses every few years. Rich Ham from Fine Tune is here to tell us why we should reconsider that strategy and how his company helps companies save money by optimizing those difficult-to-understand expenses.
The current challenges of procurement professionals are that expense categories are segmented, some requiring much more management than others. This means that many business strategies leave money on the table, waste time and energy and don’t allocate resources adequately. With Fine Tune, companies can outsource all the complex, confusing expense management processes and focus on their core competencies and as Rich says “offloading headaches”.
How does Fine Tune do this? They partner with the right people and focus on collaboration amoung all parties. This is very apparent when Rich shares with us a real life example of a client who had 14 different suppliers with several different contracts. Fine Tune helped that company reduce their suppliers to 4 through consolidation and that resulted in a huge cost savings of 35%. Rich goes on to say that their true speciality is removing friction from procurement and operations. The result? Companies invest in the Fine Tune management program because they don’t want to let go of Fine Tune!
In this episode we discuss:
- [0.30] Where are your biggest savings
- [5.56] Where are you leaving money on the table?
- [24.15] Reducing costs by 35%
- [28.07] Removing friction from procurement
- [35.58] The future is bright
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