Cost Savings & Expense Reduction Consulting
For companies seeking a broad cost savings effort, Insight Sourcing Group conducts a procurement assessment that results in an EBITDA Improvement Roadmap. We can immediately launch strategic sourcing projects to capture savings identified by the Assessment.
The process begins by understanding your goals. We then collect data reflecting a full year’s worth of non-payroll expenditures by leveraging easy-to-get reports from your systems. Similarly, we use our spend analytics solution, SpendHQ to quickly organize the data to reflect the supply market.
We leverage our deep expertise in working with over 800 different companies to identify potential areas of opportunity. The next step is to perform brief, low impact interviews with key stakeholders at your company that understand the nuances of each target expenditure area. In some cases, we gather line item detail for a few categories in order to perform deep dive analytics and benchmarking in order to validate savings.
Once complete, we develop an opportunity assessment we call the “EBITDA Improvement Roadmap” that reflects validated opportunity areas plus spend and savings projections per category. We will then offer a proposal to deliver these savings to the bottom line, typically through strategic sourcing projects. After that, you decide whether to engage us and for which categories.
For approved categories, we immediately launch projects, leveraging the data we have already collected and the relationships we developed with your team through the interviews. Unlike some consulting firms, we perform every step of the process including deep analytics to create a baseline for savings measurement, direct negotiations with vendors, and support for contracting and supplier implementation as needed.
In the end we demonstrate the savings achieved through pre-approved methods. Insight Sourcing Group has a tremendous track record delivering savings within or above our initial savings estimates from the roadmap.
Above all, we guarantee results.
Our procurement optimization services align well with executives looking for:
- Cost Savings
- Budget & Expense Reduction
- Profit Maximization
“We engaged Insight Sourcing Group with a need to drastically cut expenses. As a result, our EBITDA has improved by over $2 million annually.”
Chief Financial Officer
Dental Clinic Holding Company
Exclusive White Paper
Leveraging Procurement for EBITDA Improvement: A Chief Financial Officer’s Guide
Controlling procurement costs is harder than it seems, and few companies do it well across all expenditures. Yet if done well, optimizing procurement spend will have a uniquely compelling and near-term impact on EBITDA. At a minimum, ask yourself if you believe your company’s procurement is fully optimized. If not, what is the size of the opportunity? If it is meaningful, how do you capture it?
In this guide, we will teach you everything you need to know about using procurement as a strategic lever. You will discover why procurement spend is one of your most valuable assets, understand why it is difficult to master, learn how to spot signs of potential savings, and learn how to harvest procurement savings immediately using our playbook.
“We highly recommend Insight Sourcing Group. We hired them to source Dental Supplies, for instance, which is highly complex and our biggest expense area after payroll. The project not only generated double-digit savings, but ISG put a contract structure in place that has allowed us to more effectively manage the category and drive additional savings. We liked ISG so much that we hired them again to address our Direct Mail spend and once again they delivered nearly 20% in savings. As a result, ISG has improved our EBITDA by over $2 million annually and they did it with minimal distraction to our core business.”
Chief Financial Officer
Private Equity-owned Holding Company & Operator of 60+ Dental Clinics