We start with the basics. You cannot control your supplier spend if you don’t know what it is.
Follow the money.
Starting with your own financial records and known payees, we start to build up a picture of the likely spend.
We then cross referenced this against the suppliers own financial records. In this way, a true picture of the claims supplier spend is built up.
Working with your teams, we issue Raw data requests covering not just financials but key performance data and sub-spend detail. By way of an example, this might include the office location where the work was undertaken and the partner who actually did the work.
We then are able to build up a profile of what you are spending with what firms.
A lot of time and effort can be spent here trying to get the numbers to match 100%. Our best advice is to get to a matching rate of above 80% and stop.
Build a picture of your spend.
Once we have received the financial data covering spend we are able to build a picture of what you are spending and where.
We then discuss rates and negotiate client-specific rates rather than using the “walk-in” rates that suppliers typically apply without a formal agreement.
Other activity covered;
- SLA’s established and agreed
- MI requirements and frequency of reporting established
- Draft contracts or terms of reference put in place
Our aim is to get you on the correct rates with management controls in place to ensure that the suppliers are adhering to best practice.
