Congratulations to Adam Fontaine and Ashton Webb, who each just reached their 5-year milestone at SIB and earned their $50,000 bonus! SIB rewards each employee who reaches 5 years with this special bonus. The company is committed to team member growth and this special recognition and compensation recognizes our employees’ loyalty and hard work.
SIB congratulates Martin Summer (right) for five loyal years at SIB Fixed Cost Reduction. The reward for this milestone? A $50,000 bonus!
SIB rewards each employee who reaches 5 years with this special bonus. SIB is committed to team member growth and this special recognition and compensation recognizes our employees’ loyalty and hard work.
Are you being overcharged for propane? Just like natural gas and other utilities, there are several invoice line items that add up to the final propane bill.
SIB Fixed Cost Reduction reviews index pricing, delivery charges, storage charges, metering, maintenance contract fees, emergency calls, and even tank ownership versus leasing. Our commercial utility consultants know where to look to uncover opportunities to save money — in fact, we recently reduced monthly propane costs by 61% for one of our restaurant franchisees!
CONTACT US for a review of your propane expenses or other spend areas like waste, telecom, property tax, employee benefits and much more!
Employee benefits audit: SIB Fixed Cost Reduction
Between medical benefits, prescription programs, life insurance, disability and the management of it all, your total cost of employee benefits is substantial. In fact, companies are spending an average of $10,000 per employee annually for health and wellness programs.
SIB provides a significant savings opportunity for our clients with no risk or upfront expense to you. We evaluate your existing benefits program so you’re paying for only the services you need and getting the best price. We analyze your plan to expose hidden fees or supplemental arrangements. We’re industry insiders with the competitive knowledge to optimize your management spend. We are not brokers and are therefore completely independent from the industry and free of any conflicts of interest. Our only goal is to SAVE YOU MONEY.
To learn more about our cost reduction strategies for employee benefits, or other fixed monthly spend categories like waste, telecom, utilities, and maintenance contracts, please CONTACT US.
CHARLESTON, SC (July 27, 2017) – SIB Fixed Cost Reduction announced today that it has hired technology veteran Stavros Aloizos as Chief Technology Officer.
SIB Fixed Cost Reduction was founded in 2008 and works with restaurant groups, hospitals, senior living facilities, universities, retail stores, Fortune 500 companies, and a host of other multiple-site organizations to analyze and reduce their fixed monthly costs. In his new role at SIB, Aloizos will lead the company’s efforts to develop software tools to improve the client experience as well as to better leverage SIB’s extensive pricing data for vendor products and services for tens of thousands of business locations nationwide.
Aloizos has over 30 years of experience creating innovative and disruptive technologies, has founded several successful companies, and holds multiple patents for large-scale algorithm-based applications. Prior to joining SIB, Stavros was the Founder and CTO of SoftWave Media Exchange (SWMX), which went public in 2006. More recently, Stavros was the Co-Founder and CTO of Border City Media and its BuzzAngle Music Products, which revolutionized the music industry by providing Big Data analytics on billions of transactions in real time. Stavros attended the University of Miami.
“Stavros brings the background and knowledge to drive the development of SIB’s client-centric services and products,” said Vadim Telyatnikov, President and Chief Strategy Officer of SIB. “This step is key to our long-term vision to provide sophisticated and effective ways to leverage our best-in-class pricing data and efficient service practices. Adding Stavros to the team will help us rapidly expand our software-as-a-service products that will allow us to bring even greater efficiencies to our clients and continue to drive cost savings.”
“I’m excited to join the team at SIB and help them develop new ways to provide value to their clients,” said Aloizos. “With the extensive data and expertise SIB has accumulated over the years, they are uniquely positioned to offer new and innovative money-saving strategies and applications. I look forward to building the technological infrastructure to help make that happen.”
About SIB Fixed Cost Reduction
SIB Fixed Cost Reduction specializes in reducing monthly expenses for companies with multiple locations. Unlike other companies, SIB only bills based on the savings they find, and clients are not billed until savings are realized. SIB has analyzed over $1.5B in spend across more than 40,000 locations nationwide. This expertise across a variety of industries and audit categories allows SIB to effectively rectify billing errors and negotiate lower pricing for our clients without changing vendors or service levels across a variety of spend categories, including telecom, utilities, waste removal, bank fees, maintenance contracts, and more. For more information about SIB, visit www.AboutSIB.com
SIB Partner Robert Handfield shares expert advice for writing good contracts. Click HERE for article.
Writing Good Contracts Matters a LOT!
July 13, 2017
by: Robert Handfield
categories: Contract Management, Legal Issues in Procurement, MBA Supply Chain, Supply Chain Legal Issues, Supply Chain Management, Supply chain Relationships
I have been having a lot of interesting discussions recently with both procurement and legal executives who are increasingly concerned with the state of their contract management processes. This is occurring for several reasons.
1. The exposure of many companies to greater risk is heightening the focus on contracts.
2. The need to write better statements of work (SOW’s) and Service Level Agreements (SLA’s) is recognized as key to improved outcomes. You get what you ask for. Don’t expect platinum service if you specified silver.
3. As Tom Linton stated in a recent Procurement Leaders interviews, PRICE = SPECIFICATION. You can directly throttle the price of a product or service by limiting it’s specification, or alternatively, prices can be allowed to escalate if proper specifications are not effectively collected and identified ahead of time.
4. Managers recognize that contracts, once written, become literally filed away until something bad happens. Contracts should instead be a living document, as things will change, and measurements need to be embedded in them that allow individuals to understand if the relationship is going on track or not. Of course, if you aren’t measuring something, than you have no leg to stand on if things go wrong and there’s nothing in the contract that says anything about how to handle unexpected issues. There should at least be an agreed on procedure to deal with unexpected surprises.
5. Litigation is escalating. More companies are seeing non-performance issues arise, and are going back to their contracts. Intellectual property is at the top of the list. It costs a lot more to get out of trouble once you’re in it, then to spend the time earlier and write a better contract.
To become better prepared to a) write better contracts, and b) manage them appropriately once they are written, Paul Humbert and Robert Mastice have developed a great list of simple rules to follow in preparing a SOW and a contract. Here they are. Additional insights can be gleaned in their book “Contract and Risk Management for Supply Chain Professionals.”
– Define what is to be performed
– Learn from and do not repeat mistakes
– Link payments to performance or progress
– Develop a well-organized table of contents
– Clearly specify the objectives to be achieved
– Anticipate changes in needs or circumstances and decide how these will be addressed.
– Seek input from the right people at the right time
– Specify the project plan, schedules and milestones
– Specify where the deliverables will be performed
– Avoid making any unintended (implied) warranties
– Specify the standards of performance requirements
– Specify the applicable testing or acceptance criteria
– Avoid incorrect, inconsistent or contradictory statements
– Develop an order of precedence for the contract documents
– Anticipate the need for interpretation and who’s judgment will govern
That’s it! If you follow these rules, you probably won’t get into TOO much trouble…
If you’re reading this, then it’s safe to say that you’ve done alright with hotel asset management through the years. As the hospitality industry ushers in a predictable era of decelerating revenue increases, you understand that increasing net operating income (NOI) is the only surefire way to fight a flat-lining RevPAR and enhance asset values. But even the best players can’t win it all by themselves. There’s NOI in team. The harsh reality is that there are hidden expenses within all property management operating costs that can be reduced if organizations could only put the right people on the sidelines.