frequently asked questions
Silverback offers a risk-free means to verify your previous internal efforts. You pay no fee unless your company saves money as a result of our work and recommendations. History has proven to us that when a prospective client says that they have already implemented a cost reduction strategy, and we proceed to get engaged, we have always found savings. This is not a reflection of the quality of the client’s efforts, it is merely a reflection of our years of experience with proven cost reduction strategies.
Savings are calculated as: Previous cost minus new cost
For many companies, the answer is yes. Some recent noteworthy results from Silverback’s efforts include:
- 18% savings on freight (LTL)
- 22% savings on parcel shipping
- 36% savings on office supplies
- 49% savings on laundry services
- 16% savings on payroll processing services
- 41% savings on courier services
- 39% savings on fuel
Your time invested will be very minimal for a couple reasons. First, we want to do all the work (such as pulling invoices, requesting vendor data, implementing recommendations, etc.) since we learn much more during this process, including gaining a thorough knowledge of your culture. Second, we believe in maximizing your savings, which includes saving you time.
- Review records to benchmark current costs
- Meet with appropriate client personnel (i.e., address any current relationships and current vendor likes & dislikes)
- Gain an understanding of client culture
- Conduct off-site analysis and strategize cost savings ideas, taking into account not just vendor price but also service
- Make recommendation to client and adjust if necessary
- Assist client staff in implementing recommendation so savings are realized. This includes drafting e-mail correspondence, negotiating vendor contracts for client review and approval, and assisting in any vendor transitions.
- The results are then monitored and regularly reported to the client.
In many cases our recommendations do not require a vendor change; the client stays with the same vendor at a reduced cost.
Silverback accepts absolutely no compensation of any kind from vendors. We strictly adhere to this policy so we can present recommendations that are unbiased and beneficial to the client. We are only compensated by our clients.