Bidding
- Every 3 to 5 years, put contracts out to bid. This includes EVERYTHING from the food supplier, elevator, dumpster, commercial property insurance, copiers, postage meter, financial audit, custodian supplies, etc.
- Some companies are so hungry they’ll cut prices to get enough business to keep their employees.
- Some companies are willing to do anything just to keep good customers which could even mean revamping a contract halfway through its term.
- Examples of savings from some clients:
- Commercial property insurance was reduced by 42%
- A smaller and cheaper postage meter was obtained because more mail was sent electronically
- The new copier contract permitted an upgrade to a color machine for less than the previous price of a black-and-white machine
- The bank reduced its fees just to retain the relationship
- In every instance, insist that the savings not affect the quality of service
Lead On!