Health and Benefit Insurance Plan Cost Optimization
It can be difficult to optimize health insurance and benefits coverage. SIB navigates the evolving risks and complexities to secure plans at the right price.
Download the Info SheetProtect your business and bottom line with an average savings of $1,500 per employee per year.
Lower health insurance and benefit plan costs
Analyze every aspect of premium calculations to drive lower costs
Increase profitability
Expose hidden fees, costs, commissions, and supplemental arrangements to decrease overall benefits and insurance spend
Rightsize coverage
Pay for only what you need
Access objective, data-driven guidance
With our expertise in business operation and workers compensation policy, we can tailor your coverage precisely to your needs. Take advantage of a fast, low-touch, non-disruptive, data-driven service delivered by independent fiduciary advisors and insurance audit experts.
We facilitate the data request and return with an initial opportunity report that identifies the target savings range, specified initiative, and proposed speed to capture. Our team handles sourcing protocols, specifications, negotiations, change management, and contract optimization. You get an equity or better benefit plan with significant cost savings for the company and employees from our in-house insurance premium auditor. Ongoing supplier audits, improved visibility and reporting provide governance and controls for an accurate audit process.
Better control the cost of risk with a comprehensive and strategic approach that reduces risk exposure and effectively manages the related costs, including workers compensation and general liability. Our unique and effective business model ensures predictable, repeatable, risk management success.
Reduce employee benefits costs without negative consequences for the employer or the employee. Companies save an average of $1,500 per employee per year without cost-shifting to employees or reducing benefits.
We work within the structure of time-sensitive deals to ensure that insurance is non-issue or low touch for buyers. We accurately predict the post closing cost of risk and identify exposures of the target company to avoid surprises. We can also help integrate these and an additional premium, into an existing program.
Our team of experts help private equity firms analyze employee health insurance and benefits across portfolios. Our team creates aggregated reports to provide a comprehensive overview comparing company gross sales and spending across the portfolio or across industry verticals.
Payroll Processing
Cut payroll processing fees by an average of 24%
Smart businesses invest in people—not in redundant or unnecessary payroll processing services and fees. Optimize your payroll processing to simplify, save, and better meet your company’s human capital management needs and simplify your payroll records.
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Property Taxes
Reduce property taxes by an average of 8%
Saving money on property taxes starts with knowing the true market value of your commercial real estate assets. We empower you with the data and expertise to know your portfolio’s real worth and ensure fair and accurate taxes for the long term.
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Shipping and Fulfillment
Save an average of 18% on small parcel and 3PL
Be empowered to strategically, confidently, and successfully secure the shipping terms you deserve. Through audits, contract optimization, and greater visibility, our team of experts with backgrounds in sales and pricing at major carriers will help you access better rates and transit times, so you can serve your customers better and save money doing it.
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Technology (SaaS/IT)
Unlock up to 26% savings on IT expenses
SaaS subscriptions, internet services, printing and copying, and other IT services keep your business operational. But usage needs change over time, and complex rate structures, contracts, and costs don’t always keep pace. An IT expense audit typically turns up major cost reduction opportunities with companies standing to save an average of 8% on SaaS subscriptions and 26% on printer and copier services through rightsizing, billing error reduction, and price optimization.
Telecom
Secure 28% average savings on telecom solutions
Saving money on telecom goes beyond removing costly billing errors to ensure right-sized networks and efficient network design. A comprehensive approach to optimization and modernization helps you save today while preparing for the technology and security demands of tomorrow.
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Treasury Fees + Merchant Services
Reduce treasury service fees by 25-35%
A bank fee review can turn up unnecessary services, volumes, and costs that are deflating your bottom line. With the potential of over 3,100 fees that a bank can charge you for your business account, we help secure best-in-class pricing while preserving existing banking relationships and introducing opportunities for a more secure financial future by reviewing all bank fee line items including account maintenance, depository services, information reporting, lockbox services, ACH, wire transfers and more.
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Utilities
Save an average of 11% on energy and utilities
Get the power to optimize your energy spend with better rates, more reliable service, and reduced billing errors. Beyond procurement, audits, and bill pay, we introduce new efficiencies and support sustainability to create best-in-class energy programs.
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Waste + Recycling
Capture 30% average savings on waste and recycling
Take control of your waste and recycling programs from end to end with better program design, pricing, management, and reporting. By optimizing services, rates, and contract terms, you can take the waste out of waste management.
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Other Operating Expenses
Spend smarter on everyday spend areas
From linen and laundry, to uniforms, document storage, food costs, maintenance, medical supplies, and more, we can help you tackle all your spend areas to reduce costs and ensure the greatest value for your business.
Learn moreSee How We Can Help You Spend Smarter
Get started easily and quickly with a no-risk, comprehensive evaluation of your vendor transaction history, and put our market intelligence and industry expertise to work.
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