Page 8 - Getting a Handle on Unmanaged Spend - SIB Whitepaper

In other words, you have to be certain you aren’t being overcharged before you start negotiating. You wouldn’t install a new oor without rst removing all the old material and getting down to a solid base, and the same is true in negotiations. Starting the process without a real understanding of the best market rates gives you very little real leverage.
Without this knowledge, you will still be at the mercy of the best price the vendor will give you. You won’t necessarily be getting the best market rate. This requires collecting as much data as possible to benchmark pricing in your area.
Working with your current brokers and billing management vendors also presents a great opportunity for savings. Because billing errors are so common with these services, a simple audit of charges can be enough to clear big money without damaging your current relationships.
The solutions mentioned above have been proven to help companies reduce their exposure to unmanaged spend, although it isn’t always easy to know where to begin.
Lacking signi cant experience in these methods, or the number of trained staff to implement them, many companies try, but still fail to realize maximized savings across their organizations.
Fortunately there’s a solution that takes care of all these methods that is simple, quick to implement, and has zero up-front costs.
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Getting a Handle on Unmanaged Spend | © 2016 SIB Fixed Cost Reduction