Client
Upscale multifamily housing operator with 144 Class A luxury apartments in seven states.
Challenge
The client was struggling with a confusing array of charges, fees, and terms on more than 300 waste management vendor contracts. They needed a robust waste management solution to help them quickly identify inefficiencies and implement cost reduction strategies across their multi-state portfolio.
Solution
Using its proprietary workflow management software (WMS 2.0), the SIB’s team of waste experts (known to many in the industry as Vector97) conducted a meticulous review of 3,500+ billable line items to evaluate potential areas for expense reduction. The analysis pinpointed 76 properties with high-yield savings opportunities in two categories: billing errors and contract optimization (including vendor pricing, terms, and compliance).
Our implementation phase included:
- Disputing billing errors and securing credits on subsequent invoices.
- Renegotiating renewal contracts and securing lower rates to obtain optimal terms and pricing across the client’s multi-state vendor supply chain.
- Monitoring for ongoing overage charge errors, compliance, and exceptions via our WMS 2.0 platform.
Results
Over the initial 32-month period, the client benefited from $800,000+ in savings and enhanced efficiencies.
- Achieved total net savings of $782,364 (13% of waste management spend).
- Identified and corrected invoice errors totaling an additional $43,140.
- Successfully negotiated more favorable terms and pricing on 120 contracts.
