SERP Highmark Health – System Stream

Supplier Expense Reduction Program

(SERP)

Reduce Expenses, Increase Cash Flow, Create More Flexible Budgets,

And Drive A Positive Financial Impact For Your Organization

APPLY HERE

SERP is a voluntary program designed to support suppliers in:

Driving Down Costs
Increasing Cash Flow
Creating More Flexible Budgets
Driving A Positive Financial Impact For Their Organization

CHALLENGES

In an inflationary environment, many suppliers are challenged with higher costs being passed on to them by their vendors. At the same time, they are striving to drive continuous improvement and value delivery.
Supplier profit margins may be compromised and may threaten solution effectiveness.
Targets may be missed if suppliers are challenged with fully supporting mission objectives.

SOLUTION

Suppliers do what they know to cut costs, but how do they know what they don't know? SERP delivers a team of expense reduction experts to help suppliers go beyond what they are able to do internally on their own.
Artificial Intelligence, Machine Learning, Spend Analytics, and Price Benchmarking solutions drive down costs in over 90 spend categories.
SERP is an extension of your team, providing additional resources, expertise, & proprietary tools.
Most solutions are provided via a contingency model, with no upfront fees.
Result: Increased supplier profit margins and increased value delivered.

EXPENSE REDUCTION NETWORK (ERN)

The ERN is comprised of over 24 alliance partners, to include the largest independent cost reduction consulting firm in North America, one of the world's leading specialists for cost management, and various other expense reduction specialty firms.

Contract Analysis & Optimization
Vendor Negotiation
24+ Alliance Partners
90+ Spend Categories
28% Average Client Savings
22,000+ Organization Price Benchmarking
80% of Suppliers Keep Their Current Vendors
Geography: North America
All Industries
Most Solutions Have No Upfront Fees
Sharing Of Financial Statements Is Not Required

Specialists, Not Generalists - The ERN has expense reduction specialists in each category. Solutions for small-medium-large organizations, centralized and decentralized procurement. 90+ spend categories, a few examples include:

Telecom - $4.5M saved annually for healthcare organization
Cellular/Mobile - 40% saved annually for large construction company
Shipping/Freight - $3.3M saved annually for national retailer
Merchant Fees - $1.5M saved annually for regional retailer
NSF/Declined Payments - 80% average recovery for recurring payments. No cost technology solution.
Utility/Energy - 32% saved annually in real estate industry
Payroll Processing - $30,000 saved annually
Technology - 15-30% average savings, guaranteed 5x ROI. Spend Analytics & Price Benchmarking SaaS Platform
Waste/Trash - 40% saved annually for automotive supplier

PROCESS

SERP identifies the opportunities for expense reduction within the supplier's organization.
SERP conducts a complimentary assessment to identify the estimated savings potential of each spend category.
Supplier provides a "Go" or "No-Go" on each project based on the results from the assessment process.
Each project identified as a "Go" by the supplier, is implemented to achieved the targeted savings goal.

SPEND CATEGORIES

The Huber Group - SERP Case Study - Final

ERN SAMPLE CLIENT LISTING

PROS

CONS

Reduced expenses
Increased cash flow
No upfront fees
Non-intrusive, no financial statements required
Drives a positive impact for Highmark Health's Supplier Base

Requires a little time to gather information for the assessment process.
Some expense categories may have too little spend to qualify.

APPLICATION

To explore your savings opportunities, fill out the short application by clicking the button below.

APPLY NOW