How much did we save our recent Legal client?

Posted in Cost Detective by Marcus on March 3, 2014 No Comments yet

 

January 2014                                  Legal Firm Savings

 

As Cost Reduction specialists we a have a very simple philosophy and approach to our clients.

No big contracts just an email exchange is enough for us, plus of course an NDA if you need one.

Unlike other competitors who are known to charge fees and over 50% of identified savings,

we do things a little differently.

 

Our 3 step approach is;

1                   We review all costs within the business, [but we will not teach anyone how to suck eggs].

2                   We will agree those savings with the client. [There maybe a contracts in place which mean the savings cannot be made, we do not count that as a saving]

3                   Our charge of 10% is based on an agreed calculation of the 1st years savings.

We sit quietly in a corner of the office going through the last years worth of invoices and costs and the over the next few weeks will feed back areas where we think savings can be made.

How do we identify savings/ We ask three questions of each and every cost.

1                   Is that cost really necessary? [Can we just get rid of it?]

2                   How can we encourage efficiency when incurring the cost?

3                   Can we renegotiate with your existing supplier or better ones?

We have attached an example of savings that we have made at a London based Legal Firm recently, as an example of our work.

 

Cost

% Saving

Waste Collection

25%

Telephony Costs

29%

Document Storage

21%-64%

Confidential Shredding

65%

Washroom Services

68%

Printing

41%

Electricity

22%

IT Costs

32%

Private Health Cover

28%

Stationery

12%

 

 

For this four partner, firm savings were in excess of £15,000 and are still climbing as        contracts fall due. Our charge for this was 10% of these agreed savings.

 

If you would like us to do the same for your firm then just get in touch with our Managing Director on MarcusKing@TheCostDetectives.co.uk and we can organise a time to meet

 

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