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How ‘Top Gun’ Helped Me Reimagine Business Process: Part 2 (the RESULTS)

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Last year I shared with you my team’s story of how we used a Top Gun inspired all-nighter to change the business process of a company we acquired 3 years ago.

I distributed a note to employees letting them know we would be pulling an all-nighter with the goal of developing and implementing an operating guide on how both companies can most effectively and efficiently work together to create higher margins. I issued aviator sunglasses to the entire team. We reviewed everything from internal processes, sales cycles, and day-to-day operations.

So, one year in, how did we do? CLICK TO READ the full story.

Top 10 Billing Errors of Last Month!

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SIB Fixed Cost Reduction Acquires Stake in Legal Bill Analysis Firm

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CHARLESTON, SC (November 28, 2018) – SIB Fixed Cost Reduction announced today that it has acquired a stake in Santorian LLC, which helps organizations manage their legal invoices and identify overcharges and billing errors to assure they are receiving maximum value from their legal service providers. In addition, Santorian will be using SIB’s proprietary software, which employs OCR and Data Capture technology to streamline the collection and analysis of line item data from invoices. Santorian is now rebranded under the SIB umbrella as SIB Legal Bill Review.

SIB Fixed Cost Reduction specializes in reducing recurring expenses for companies, regardless of industry, by negotiating best-in-class rates, rectifying billing errors, and standardizing service levels with their clients’ current vendors. SIB bills only on the savings they are able to find with a 98 percent success rate at finding savings for its clients.

“The services Santorian provides its clients are, in many ways, similar to what we do at SIB, which makes this a natural fit,” said SIB CEO Dan Schneider. “We each take care of all the heavy lifting behind the scenes so that our clients can focus on their core competencies. The work Santorian does will also be useful for our clients who have asked us about reviewing legal bills for them.”

Santorian protects its clients from being overbilled by outside law firms. The company actively manages and reviews all legal invoices and discusses its findings with the billing attorneys in an effort to reduce the charges to reflect the true value of the services rendered. This eliminates any potential awkwardness with clients having to question their outside counsel directly, while also reducing overall legal expenses.

“Our ability to utilize SIB’s invoice analysis platform will allow us to manage our clients’ relationships with their attorneys even more efficiently,” said Joe DiGuglielmo, Esq, VP of Client Success at Santorian. “Much like how SIB approaches vendors on behalf of its clients to reduce expenses, we approach our clients’ law firms with a cooperative spirit, not a combative one. Our goal is to allow our clients’ in-house legal teams to focus on real legal issues that need their attention and not be distracted by legal invoice review.”

About SIB Fixed Cost Reduction

SIB Fixed Cost Reduction specializes in reducing companies’ recurring expenses. The company, which has grown to include offices in Charleston and New York, only bills based on the savings they find, and clients are not billed until savings are realized. SIB has analyzed over $3B in spend across more than 50,000 locations nationwide. This expertise across a variety of industries and audit categories allows SIB to effectively rectify billing errors and negotiate lower pricing for its clients without changing vendors or reducing service levels across dozens of spend categories, including telecom, utilities, waste removal, bank fees, maintenance contracts and more. For more information, visit www.aboutsib.com.

About SIB Legal Bill Review (formerly Santorian)

Based in Philadelphia, SIB Legal Bill Review serves as an advocate for its clients by actively managing and reviewing their legal invoices to assure they are receiving maximum value from their legal service providers. The company then works directly with its clients’ billing attorneys to revise the charges to reflect the true value of the services rendered. Founder Joe Hopkins, Esq., has over four decades of experience as a highly respected attorney, employing a team of analysts who understand firsthand the systemic culture and method by which law firms bill their clients — and are well-versed in identifying charges that do not deliver corresponding value to the client. For more information, visit www.siblbr.com.

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David Kelley joins SIB Fixed Cost Reduction as Chief Financial Officer

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CHARLESTON, SC (October 1, 2018) – SIB Fixed Cost Reduction announced today that finance industry veteran David Kelley has joined the company as its new Chief Financial Officer. In his new role, Kelley will be responsible for SIB’s overall financial and strategic management, including the company’s financial reporting, long-range business planning, accounting, tax, treasury, and strategy across the organization.

“David brings over three decades of experience from the finance world, making him an invaluable addition to our leadership team,” said SIB CEO Dan Schneider. “He has helped lead private and public companies of all sizes through transformational periods and is the perfect fit to help our team meet our goals for growth moving forward.”

Prior to joining SIB, Kelley provided on-demand CFO services to technology and tech-enabled businesses at various growth stages and specialized in transformative and growth-oriented ventures. He has held senior leadership roles in private equity portfolio companies, family office ventures, publicly held businesses, and foreign companies doing business in the US.

“I am excited to join the impressive team at SIB, which is continually focused on innovating for the good of its clients,” said David Kelley. “I look forward to doing my part to build on the company’s already strong growth and help take SIB to the next level.”

About SIB Fixed Cost Reduction

SIB Fixed Cost Reduction specializes in reducing monthly expenses for companies with multiple locations. The company, which has grown to include offices in Charleston and New York, only bills based on the savings they find, and clients are not billed until savings are realized. SIB has analyzed over $3B in spend across more than 50,000 locations nationwide. This expertise across a variety of industries and spend categories allows SIB to effectively rectify billing errors and negotiate lower pricing for its clients without changing vendors or service levels across dozens of spend categories, including telecom, utilities, waste removal, bank fees, maintenance contracts and more. For more information, visit www.aboutsib.com.

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SIB Awards 5-Year $50,000 Bonus!

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Congratulations to Jordan Marhoefer, SIB’s corporate chef, who just reached his 5-year milestone at SIB and earned a $50,000 bonus! SIB rewards each employee who reaches five years with this special bonus. The company is committed to team member growth, and this special incentive recognizes our employees’ loyalty and hard work.

US sanctions on crude oil may cause price volatility

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US sanctions on crude oil may cause a swing in oil prices, according to industry analysts. What does this mean for you? Potentially higher fuel surcharges, shipping and transportation fees, and utility rates. SIB will work with your vendors to cap these charges and lock in your rates as the market fluctuates.

Contact us today to get started:

Federal Tax Incentives Deadline is NEXT MONTH

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With tax rate reductions starting in 2018, accelerating tax deductions into 2017 filings generates tremendous tax benefits. The corporate tax rate is dropping from 35% to 21%, so shifting tax deductions into 2017 creates permanent savings. There are numerous often-missed tax planning ideas to do this, including the §179D Energy Efficient Building Deduction and Cost Segregation. These planning ideas are typically outside the services provided by CPA firms, as they require special tools, professional credentials, and expertise. Any company with over $5M in building assets should consider these tax planning ideas.

CONTACT US TODAY for a free analysis before your filing deadline.

FORBES: News Flash: It’s About The Skill Set, Not The Suit Or The Degree

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News Flash: It’s About The Skill Set, Not The Suit Or The Degree
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Dan Schneider, CEO of SIB Fixed Cost Reduction, is a regular contributor to Forbes.

Dan Schneider, Forbes, SIB Fixed Cost Reduction

FORBES: Why I Train Employees To Embrace Failure

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Why I Train Employees To Embrace Failure
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Dan Schneider, CEO of SIB Fixed Cost Reduction, is a regular contributor to Forbes.

Most outrageous vendor billing errors from last month!

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