Many potential clients have researched our services, and are interested in using them to start reducing business costs, but wonder when the most opportune time to engage us might be. This question is quite astute since the capabilities to make major changes can be quite variable depending on the current status of your operations. While technically any time would be a good time to engage Freedom Profit Recovery (FPR) and begin realizing the tremendous cost savings of which we are capable, finding the perfect window can reduce the friction of implementing suggestions to the bare minimum while leveraging the maximum amount of opportunity. Specifically, twelve months prior to contract expiration for your managed print services contracts, electricity contracts and telecommunications contracts would be the optimal time to engage FPR.
To educate our clients on the most ideal moments in which to engage our services, we have provided a guide to when and how engagement can provide the most potential benefit.
1. Twelve Months Prior To Contract Expiration
Being in the middle of a long-term contract is very normal, and can frequently tie our clients’ hands a bit when it comes to implementing suggested changes. Often, the contract terms lock them into certain deliverables that can be difficult, if not impossible to modify pre-expiration.
Despite our capability to determine creative workarounds, the most opportune moments arise when you can renegotiate contract terms from scratch. We may also strongly suggest going with another provider if they can provide you an enhanced-structured offering that complements your exact needs. The vendors who work with FPR provide our clients the greatest flexibility and controls.
Since many of these contracts include what is commonly referred to as evergreen language, it is absolutely advisable to act no less than six months prior to contract termination. Within this period, FPR can engage with your executive team, assess your unique needs and provide the optimal recommendations for your organization that yield the maximum potential hard-dollar savings and/or process improvements.
2. After a Comprehensive Financial Audit
FPR will perform our industry-unique analytics process at the onset of our engagement. Core to the success of our VISIONAnalysisTM is first defining client requirements and objectives as a result of the analysis process. Typically, an analysis reveals insights such as profit leakage (i.e. over-billing/mis-billing, waste sources), contractual exposures, and discovery of opportunities for growth as well as areas of under-performance. This allows us to formulate goal-setting metrics that fit and align with your organization’s objectives and cost reduction needs. For these reasons, engaging our services post-analysis can allow for a “meeting of the minds,” where your company and our team form lockstep as we address your findings and reveal some of our own.
3. Before a Major Expansion, Restructuring, Program Launch or Similar Opportunity
“Getting your ducks in a row” before taking on a large opportunity (expansion, reduction or move) benefits your organization in many ways. Foremost, it reduces financial risk. Secondly, it can release unanticipated capital that could help fuel scale. Clients also reduce the amount of complexity and redundancy in their organization as we assume ongoing management of elements like document output services (copying & printing), telecommunications and electricity. In fact, here are 4 steps to reducing energy costs to get you started.
4. After a Major Financial Blow
Periods of “damage control” like downsizing or cost-cutting initiatives can also be an excellent time to engage for obvious reasons, although we would caution organizations to engage FPR proactively in order to help reduce the chances of encountering financial constraints in the first place.
5. Anytime at All
We would be happy to provide the most benefit possible to your organization during any period of your operations, regardless of whether it falls into one of the above categories or not. Take a look at our cost recovery solutions to get started today. Ready to engage?–find out how the process will work step by step.