Our process

If there are savings to be had, our process is guaranteed to find them at no upfront cost to you, freeing your team to perform revenue-producing activities. We only win if you do. 

Want to work with us - this is how we do it.

Our RISK-FREE process requires minimal involvement from your staff. Just provide our team with some key information about your expense categories, vendors, and current prices, and we’ll go to work. Our team of industry specialists will assess each expense category and provide you with real recommendations for cost savings. And you don’t need to change suppliers either- unless you want to. In fact, around 65% of your savings will likely come from existing suppliers. 

1. Analysis

We complete a thorough analysis of your current expense categories, rates, and suppliers to see where we believe we can find cost savings. Most of our work is done outside of your office. Our processes, resources, and systems ensure minimal impact on your human resources. 

2. Reporting

We will present you with a detailed report showing the costs you currently pay and where we have identified saving opportunities. If the expenses are already optimized, there’s no fee. However, we generally find cost savings of 10 - 30% that you can then redeploy into business development. This doesn’t necessarily require changing vendors, either — it may simply be as simple as optimizing a shipping contract or getting better terms from a vendor. 

3. Implementation

Once you review the report and approve it, we will hop into action, create all the necessary paperwork and facilitate the implementation of the cost-savings process. You collect the money and only pay us when you do. 

4. Ongoing monitoring

Over the next 24 – 48 months, we will monitor the savings you actually achieved and provide you with performance reports. These savings are the basis for our remuneration. After our initial engagement ends, your company gets to keep 100% of the savings. However, many of our clients request that we continue to monitor selected expenses for a longer period of time to ensure that maximum cost savings are continually achieved.

FAQs

Got a question? We’re here to help.

  • Can we do this ourselves?

    Yes, you can, but it would take you days, if not weeks, to do. Our process frees up your team for business-building activities. With our industry experience, we know where the savings are to be had and how to get them quickly. And- we do all the work with minimal involvement from your staff. Let us do what we do best, while you do what you do best.  


    Most companies are looking at cost containment, but in virtually all organizations the task is too large for internal staff to handle along with their other duties. As a result, it is pursued on a sporadic basis when a problem arises, rather than as a conscious effort. Vendor Choice can quickly address cost reduction across a variety of categories, bringing in national purchasing agreements and specialized subject matter experts that deliver results well beyond what your staff may be able to accomplish on their own.


  • Do we have to change vendors?

    Not unless you want to. We understand that organizations build relationships with suppliers and want to continue to do business with them. Vendor Choice is vendor-neutral.” Our industry network and depth of vendor familiarity enable us to renegotiate your current contracts or mine the marketplace to identify powerful savings from other high-quality service providers. We identify significant savings opportunities, but you determine which suppliers to keep and which to change. 

  • Does the location of my company matter?

    No. Vendor Choice clients span the country. We have worked across the United States and Canada. 

  • How does Vendor Choice make money?

    We make our money based on a percentage of the savings we find for you. We invoice your organization for our portion of the savings you realize over a 60-month period.  If we find refund opportunities, we will invoice you once your organization receives the credits. 

  • How do you maintain our privacy?

    We ask our clients to share their bills, not their books. Our Client Agreement includes a confidentiality clause, and we will execute a Non-Disclosure Agreement upon request. Confidentiality is of utmost concern to us. 

  • How much time and energy will this take?

    With our years of experience, we are highly efficient at reviewing your documents and finding savings. A few invoices, an authorization form, or online supplier account access is frequently all we need. Proper documentation allows us to benchmark proposed savings against your current costs to prove our results.

  • What do you need from us to get started?

    To get started, we will need a copy of your supplier file and access to your online supplier account. We require 12 months of supplier invoices, or less if you have not been with them for 12 full months. Most organizations have this information already stored in their accounting software.

  • Are there any charges after the initial engagement?

    No, there are no charges after the initial engagement is over. After the engagement ends your organization keeps 100% of the savings. Many of our clients request that we continue to monitor expenses in selected areas because they value this additional oversight. This is typically done based on an agreed-upon fee negotiated to reflect the work required. 

  • Are we obligated to adopt your recommendations?

    No, clients are absolutely not obligated to implement Vendor Choice’s recommendations. We realize that there is more to supplier selection than price alone. If you do not accept a recommendation, that item will be removed from the project and will not be counted in the overall auditing of savings going forward.

  • Can our company direct you to not engage with some of our suppliers?

    If there are suppliers that you do not want us to engage with, just let us know. 

Ready to save money?

One call with us will determine if we can help you, and there is no cost for that either. Schedule a call today.


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