LSG Spend Reduction Process
Introduction Meeting
This is where we get to know your current company decision making process, meet your procurement team and outline all of your targeted areas of spend reduction. This meeting can take place over the phone or in person. The initial meeting will take approximately 30 to 60 minutes.
Data Collection
Data collection is typically done within one day. We will collect one month of billing records for all of your selected areas of spend reduction such as Energy and Telecommunications. We will also require letters of agency and copy of your signed contracts with your vendors. LSG will provide all of the staff required to do this data collection at no charge to you. We are very experienced at making sure this is a painless and very effective experience for your company.
Audit and Analysis for savings
LSG will send all of your data to our cost reduction experts and your analysis will begin. We will attack all of the areas of spend reduction including, tariffs, and billed rates compared to contracted rates. Current market price compared to current billed rates. From this audit and analysis, we will present you with a findings document that will show all of the selected areas of spend reduction and the recommendations for cost reduction.
Request Credits and Improve Rates
Based on our findings and approved areas of spend reduction, LSG will take all of the need actions to get your account credited and to get your rates reduced, including finding new providers for services and migration of services to new providers, if selected.
On Going Cost Reduction
To ensure all of your cost reduction is complete, we have an extensive follow-up process to keep in communication with your existing and new vendors, tracking all refunds that are applied to your accounts, as well as identifying new areas of additional cost reduction. This is a no cost, cost reduction service.
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