Your Questions Answered
When people start looking at our business, they typically have similar questions in their mind. Below, we’ve compiled a “Questions and Answers” document, which provides you with a clearer understanding of the opportunity with Expense Reduction Analysts.
Why join Expense Reduction Analysts? As a licensed partner of Expense Reduction Analysts you will be a member of one of the world’s leading cost, purchase & supplier management consultancies. You will operate your own business, but as part of a world-wide network. You will be helping organizations of all sizes to maximize their profits by identifying and securing significant savings on everyday overhead costs
How does the service of Expense Reduction Analysts stand out from other consultancies? There are three ways our services stand out from other consulting firms: 1. Our services bear a low-financial risk for our clients. In other words – no savings, no fee. The client only pays for results. 2. We don’t just create a report; we also implement the recommendations and secure our clients savings. It’s all about results. 3. Because our business specializes in reducing overheads we’ve developed an enormous amount of expertise in many areas. Our network of over 700 licensed partners around the globe keeps the quality of our knowledge permanently high.
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In what areas do we help clients to save money? We have established systems and supplier relationships that span over 40 expense areas. We call these areas ‘categories’. Here are some of the categories you may be involved in: • Utilities and Energy
• Factory Consumables
• Office Supplies
• Mail Management
• Telecommunications
• Uniforms & Linens
• Cleaning
• Logistics
• Freight
• Security
• Packaging
• Contract Employment
• Waste Management
• Reprographics
• Insurance
• Facilities Management
• Printing
• Bank Services
• Small Package Freight
• Marketing
• Equipment Maintenance
• Information Technology
• Travel & Accommodation
• Industrial Gases
What is the typical amount I’m likely to save for a client? Savings depend largely on the type of industry, the size of the business, the efficiency of their purchasing systems and the expense category you’re working on. It is difficult to come up with a concrete figure. However, on average Expense Reduction Analysts save clients 5 – 25%. The average spend per category is over 250.000 Euro and we typically manage 3 or 4 projects per client.
Your Questions Answered
How much can I earn?
Do I have a designated territory?
You determine your own income level. The more money you save for a client, and the more clients you have, the more money you earn. Typically, you earn 50% on the category you are engaged to work on over a period of 24 months or longer from the implementation date. The majority of our projects are performed as joint ventures. In this case two joint venture partners share the revenues derived from their savings.
The answer is ‘yes’ and ‘no’. Partners protect their business by registering prospective and actual clients on our Knowledge Management System (KMS), and each verifies availability before canvassing new clients. In Europe this is related to 38 clearly defined regions. Within your region, you are free to work with any client provided they aren’t already a client or a prospect of another licensed partner. Outside your region you have the opportunity to benefit from client referrals without worrying about their location.
What types of businesses will I work with? Expense Reduction Analysts focuses on small and medium sized companies with an annual revenue from 5 to 250 Million Euro. In general every business or organization you come across is a potential client. All businesses have overhead costs and every business can improve their profits by saving money.
What are the opportunities for repeat business? There are a number of opportunities for you to secure lucrative repeat businesses. 1. Usually, when you first do work for a client, you’ll focus your attention on a couple of expense categories so you can get quick results for the client and yourself. Once you’ve done that, you will then have the opportunity to identify savings for them across other categories. 2. Where you do a great job in demonstrating value to a client, you have the possibility to continue providing ongoing monitoring of a category spend usually on a fixed fee basis. 3. Perhaps the organization has other branches, subsidiaries or other divisions that they can refer you to.
“Working as a consultant for Expense Reduction Analysts requires discipline. It is rewarding and it is fun. It is also the sharing of ideas, the development of joint market approaches and out of the box thinking.” Jörg Schlake, Partner What is a Joint Venture? Making a project successful involves different tasks, ranging from acquiring clients to client relationship management and analyzing projects. In order to make our work as efficient as possible, the majority of our projects are carried out as joint ventures, in which partners work together and specialize on their specific strengths. This means that to become a licensed partner of Expense Reduction Analysts you do not necessarily have to be a strong analyst and business developer at the same time. We encourage partners in the areas of business development, client management and analysis to join our network.
What competition will I have? Because we’re one of the world leaders in cost, purchase and supplier management, it’s natural that others have already tried to follow our lead. Our systems and methodologies have been refined over nearly twenty years and because our reputation and ability to deliver locally and
nationally are now very strong it would be difficult for most other organizations to match the strength and depth of Expense Reduction Analysts.
What investment do I need to get started? You will need to invest in a license to become part of the network of Expense Reduction Analysts. As with any new business, you will also need enough working capital to cover your start-up period. In Europe, typically, the initial investment is between 50.000 and 100.000 Euro, depending on the region in which you start your business and on your personal business plan. Expense Reduction Analysts is a very low overhead business, which can be operated from a home office. Some consultants share offices with others to optimize their communication and make their work more efficient.
What backgrounds do most licensed partners come from? There’s no set profile for a licensed partner of Expense Reduction Analysts. Our licensed partners come from a broad range of positions and industries, e.g. sales, general management, marketing, purchasing, advertising, telecommunications, consulting, engineering, IT, transport and financial services. Licensed partners have a minimum of 10 years of experience in management positions or have significant technical expertise in a particular category.
What skills do I need? 1. You need to have a high level of integrity. 2. You need to be ambitious, self motivated, a hard worker and have strong interpersonal skills.
3. You need to be passionate, assertive and committed to succeeding in your own business. 4. You need to either have solid sales skills, management skills, or specific category experience. You can find out more about our requirements in a personal conversation.
“Expense Reduction Analysts gave me the opportunity to organize my time independently so that I have more flexibility to spend time with my family.” Kim Knudsen, Partner Do I qualify as a partner of Expense Reduction Analysts? As you can appreciate, we only want to work with licensed partners who have what it takes to be successful. To qualify, you will have first passed our selection process which addresses areas like attitude, experience, goals, motivation, financial stability and credibility. This forms part of the due diligence process to appraise suitability on both sides. Should you decide that Expense Reduction Analysts is the kind of business you’re looking for, and if you meet the selection criteria, you will then embark on a comprehensive training program to qualify you for your new business.
What level of training do I receive? Our Performance Development Team is dedicated to helping you throughout your career with Expense Reduction Analysts. Once you join our network as a licensed partner, you will take part in an intensive 10 day Foundational Training focusing on specific methodologies and tools. For experienced partners our training team tailors specific programs centered on business goals and personal performance in an ongoing process.
Your Questions Answered
What back-up and support is available? Firstly, you have the opportunity to share your expertise and network with other license partners via our Knowledge Management System (KMS) and regular meetings, training and conferences. Secondly, you also have access to support in our technology tools, marketing and structured local coaching and mentoring to help you get up to speed quickly and maximize your success.
“Your success is our business. It´s a great experience to help people to become successful in their own business” Dr. Robert McConkey, Director of Performance Development
What is the standard recruitment process?
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You will also have the opportunity to speak with other licensed partners so you can get a first hand feel for what life is like as a partner of Expense Reduction Analysts. Once you have managed to pass through these first steps, you will be invited to one of our European Discovery Days. In this event you will meet the management team as well as licensed partners and applicants from different countries. From there, you will have all the information you need to assess if Expense Reduction Analysts is right for you and in turn, we can assess whether you are the type of person we’re looking for.
We hope that this material has provided you with a much clearer understanding of how this business opportunity can give you the autonomy, the business success and the income you are looking for. We are looking forward to speaking with you.
The first step is to apply by completing an enquiry form and/or provide your CV. After reviewing your application your regional manager will arrange an appointment with you, where we walk you through the opportunity of Expense Reduction Analysts in full detail, and further answer any questions you have.
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