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informed of ongoing suits related to all aspects of
your operations, however uncertain the connection
might seem. Invest in a subscription to Nexis-Uni
and perform a monthly review of current class
action proceedings, or peruse open-source online
databases of open cases. Shift your thinking to
include class action settlements as an active part
of your cost-saving repertoire, rather than recoiling
from their demands on time and resources.
Such small shifts in thinking provide the basis for
transforming your business practices in favor of
creative, sustainable cost reduction.
If this seems like too much for your
organization to take on, or if you do not quite have
the resources to devote to it, seek effective outside
help.
We have built class actions settlements into
our standard savings reviews for our clients because,
as we quickly discovered, large settlements have
impacts far outside the boundaries of one or even our clients’ broader savings strategies.
a few industries. Waste Industries, for instance, Can you say the same of your own
recently settled for abuses in the environmental approach? Class action settlements can certainly
and fuel fees it charged its clients. Sysco has also be lucrative, but above all, are a gauge of your
recently settled for damages caused by similar dedication to pursuing all avenues of available
practices savings. Money should never be left on the table
Proactivity, organization, and mindset when it is rightfully due to your company. It’s up
constitute the key difference between those to you to be thorough enough and well-informed
businesses, like our clients, who cash in on class when it comes to identifying and following through
action, and those who do not. In many cases, we on those savings opportunities.
already had the records we needed to file on clients’
behalf, based on other cost-savings projects. This
means that preparation for filing class action claims SIB Fixed Cost Reduction monitors and
researches settlements that are applicable
is part of a broader organizational mentality: when to the many industries we serve. We only
savings are pursued, in a variety of domains, the pursue claims that have been settled –
practices required for one may carry over into meaning there is already money on the table.
others. In every case, based on previous savings SIB assumes the administrative burden
of compiling the proper documentation,
projects, we could easily identify clients who had filing our clients’ claims in accordance with
the opportunity to receive settlement funds, and deadlines and extensions, and monitoring
assist them with the process of filing. We had progress until funds are disbursed. Contact
years of carefully organized invoices and spending us now to learn about current cases or
register for ongoing monitoring.
records, as well as industry- and location-specific
benchmark data with which to do so, and we have SIB Fixed Cost Reduction
long since built in settlements as a viable aspect of 843-576-3638 • www.aboutsib.com

© 2018 SIB Fixed Cost Reduction • PAGE 7