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.
“Insight Sourcing Group has been instrumental in our business transformation and has enabled us to become leaner and smarter with our indirect spend. We engaged them for a complete procurement transformation project which started with a spend assessment to identify target opportunities for immediate savings impact. ISG’s evaluation also included a review of our existing procurement function and recommendations for a future-state, enhanced procurement organization that will position us for long-term success. In executing upon the recommended opportunities, Insight Sourcing Group truly partnered alongside our team to deliver tangible value. The ISG team has been an amazing partner and has built a strong, credible brand reputation within our walls. I am very pleased when I reflect on the journey and the significant progress that we have made together.”
Vice President, Global Financial Planning & Analysis
Under Armour Inc.