The Industry Leading Resource Capability & Business Development Company
Mid-size Regional Financial Institution
Challenge: Senior Bank Officers recognized the need to centralize the on-going management of equipment maintenance to reduce both the administrative burden and ever increasing cost. The client had over 100 separate contracts with more than 20 vendor relationships on nearly 500 pieces of equipment spread through 5 separate charters.
Solution: Financial analysis resulted in a comprehensive maintenance program that addressed the organization’s initiatives to centralize maintenance under one program resulting in reduced maintenance costs and administrative tasks
Results: Hard-Dollar Cost Savings is $220K (21%); Administrative Savings $161K. Proprietary Dispatch program allowed the organization a vehicle to achieve their goals for a one-stop solution for service repair requests.
Challenge: The organization had an e-Payment program through their lending bank for several years. Current rebate earned was below expectations.
Solution: Replaced e-Payment program. Robust enrollment process maximized results.
Results: Within 2 weeks of converting, there was an additional $58M of annual vendor spend enrolled (+120% increase). The total annual vendor payment throughput after full enrollment is estimated over $125M (3X the bank program). At full enrollment, the annual rebate will be over $1.5M versus the $600K through the prior program.
Challenge: Seeking additional ways to cut costs in the area of carrier sourcing. They believed they were doing a decent job with bids, but felt like money was being left on the table.