How we work together
7 Steps to Profitability
Here is a summary of our 7-step process to finding expense reduction opportunities and implementing cost savings strategies that add cash back to each client’s bottom line. Please review our FAQ page for more details or contact us with additional questions.
Once you contact us, we’ll hop on the phone for a quick conversation to better understand your needs and objectives. Together, we’ll select a few (non-labor) expense categories to review. When selecting categories, we consider: How much you’re spending now, plus how impactful the savings category is and how polarizing it may be. An engagement agreement is signed to make it official, and then we hit the ground running.
We collect the necessary data on-site, which is typically one month’s invoice for each chosen category. We prefer to do the heavy lifting ourselves (like pulling invoices or requesting vendor data) for two reasons. First, the process allows us to learn more about your company culture, such as addressing any current vendor likes and dislikes, purchasing preferences, etc. Second, we believe in maximizing your savings, which starts by saving you time.
Our subject matter experts utilize in-depth market knowledge, industry experience and an extensive national cost database to identify where you’re paying too much. We’re proud to offer unbiased guidance, as we neither represent nor act as vendor agents and we never receive compensation from vendors. Ultimately, we provide you with a detailed analysis and recommend strategies that will best benefit your bottom line.
We run through the cost reduction strategy with you and make any necessary adjustments. Our clients appreciate that in many cases, these recommendations do not require a vendor change, and they’re able to stay with the same vendors at reduced costs. Ultimately, you decide which strategies you’d like to implement.
When it comes to executing approved strategies, our team of experts will be as involved as you prefer. Whether it’s drafting email correspondence, negotiating and creating new contracts, or assisting in vendor transitions, we like to be as hands-on as possible, as it allows us to better guarantee savings are achieved.
We’ve successfully helped our clients improve efficiencies, streamline purchase methods, and ultimately, increase margins over many years. Unlike with our competitors, you’ll never incur any cost from our efforts, nor will you pay a dime until your savings are realized. We charge as a percentage of the savings we produce. Therefore, we can ONLY positively impact your budget.
We monitor outcomes and report results to you on an ongoing basis to ensure your savings are “locked in", and your profitability is maximized.
We monitor outcomes and report results to you on an ongoing basis to ensure your savings are “locked in” and your profitability is maximized.
How We Work
Silverback The Expense Reduction Experts
Want to put some silver back in your pocket? Sometimes it pays to put a fresh set of eyes on your operating expenses.