Essex has created ground-breaking solutions in Expense Reduction for several major corporations, derived from granular transactional expense data, providing return on their investment in factors of 10x-30x.
The solutions address immediate expense reduction challenges and provide our clients with Customizable Decision Intelligence to enable continuous measurement, monitoring & management of expenses.
Essex Industry Experts bring their years of line experience to our client assignments. They examine internal, external and allocated expenses, and develop implementable profit impacting solutions supported by a customized Decision Intelligence Platform that provides deep views into drivers and root causes of expense proliferation.
We understand the challenges of expense reduction, which can include dealing with siloed departments, offices, locations or operating units leading to overlapping baselines, double-counting of savings, and hidden cross-organizational opportunities; resources tasked with running expense reduction programs having competing day-job priorities, and often lacking the experience and analytical skills required to quickly identify and size opportunities; independent operational systems and disaggregated data lead to multiple versions of the “truth”, requiring a “golden source” of integrated data from the multiple disparate systems; the lack of a global or family-tree perspective on vendor performance & pricing, leading to missed opportunities to leverage scale; or an inability to identify opportunities beyond pricing and understanding of demand drivers.
We help our clients move beyond the obvious to in-depth opportunity analysis, replacing the traditional random opportunity seeking with a more robust and structured data driven approach.
Ongoing benefits derived from a customized Expense Reduction Decision Intelligence Platform could include expense monitoring & visibility, savings tracking, exceptions reporting, custom reporting, opportunity identification, HR movements and greater sophistication in syndication with the Business.