ERA - Case Studies

Records management savings augment working capital to grow business

63% reduction over five-year contract period

Analysis reveals fee increases higher than the industry average

As a mid-sized investment bank with headquarters in New York City and offices in other major metropolitan areas, the client’s expenses for records storage and secure shredding were significant. Under the client’s automatic renewal (“evergreen clause”) contract, the provider could raise fees at any time with 30 days notice. An analysis of recent invoices by records and information management experts with Expense Reduction Analysts (ERA) revealed that increases during 2009-2010 were higher than the inflation rate and the industry average.

ERA evaluates factors in addition to price

Consultants used ERA’s proprietary advanced procurement tools to weigh and grade decision-making criteria identified as important by the client. In addition to price, ERA’s detailed RFP solicited data on customer service commitments, compliance monitoring tools, performance capabilities, management reports and financial strength. ERA Consultants also performed a general check of the bidding suppliers’ facilities to verify fire protection and prevention; security and alarms; technical support; and vault specifications. ERA experts recommended that the investment bank establish a formal Records Retention Policy and embed the policy into records management software.

Pricing negotiations by ERA experts yielded significant savings

Client Manager

Craig Bartner
Craig Bartner has more than 20 years of results-oriented sales management experience, primarily as an institutional fixed-income salesperson on Wall Street. He is focused on client acquisition and...

Project Team Leader

Klaus Jeschke
Klaus Jeschke has more than 25 years international business experience as an entrepreneur and business owner. He was Co-Founder and Executive Chairman of an international moving and storage/records...

Summary of Savings

Category
Savings
1
Records Management63% over 5 years