Why Profit Recovery Partners?
Executive Vice President of Finance & Administration,
Prudential Fox & Roach/Trident
Profit Recovery Partners is a professional services firm that develops, implements and manages cost-reduction solutions for FORTUNE 1000 companies, law firms, private equity firms and private companies throughout North America. Our spend management, supplier management and procurement strategies have resulted in more than $2.3 billion in client savings. Here is how we accomplish it:
- Industry Expertise. PRP employs a full-time staff of 80 professionals with relevant expertise and backgrounds. PRP has delivered value to more than 1,000 client engagements, totaling more than $2.3 billion in client savings.
- Managed Spend. We use more than $1 billion of annual managed spend to entice vendors to provide our clients with the best pricing possible. All negotiated contracts are in our clients’ names, and all of our clients have complete freedom to choose vendors. Our purchasing power derives from the hundreds of contacts that cross our desk weekly. In turn, vendors we work with seek to provide our clients with the most favorable terms and highest quality service.
- Change Management. Although vendor leverage is the key component to achieving the most aggressive vendor pricing and terms, PRP recommendations also may include options for change. Our Strategy Development, Solutions Management and Industry Expertise teams collaborate with clients to implement change custom to each engagement.
- Business Intelligence/Reporting Tools. At PRP, we leverage our expertise with technology to transform your spend data into actionable information. We provide valuable insights into your business processes and operations, which is necessary to reduce costs and increase efficiencies. PRP’s data warehousing and analytical tools provide real business intelligence.
- Ongoing Support and Verification. Our Solutions Management team is the ongoing support arm of our company. PRP is responsible for ensuring the savings achieved during the initial review are maintained, while assisting in controlling future expenses throughout the agreement term. The Solutions Management team is available at all times during the engagement and will report at least quarterly on key metrics and value-add opportunities. Our Solutions Management team becomes an extension of your team.
"When measuring the full impact of the many multi-year contracts, Profit Recovery Partners has negotiated for Fidelity National Financial, it shows our savings approaching $180 million mark. The use of Profit Recovery Partners LLC has provided additional benefits to our Procurement management and staff. They have shared their extensive knowledge and experience in strategic planning, vendor negotiations and RFP specification writing."