"Redbridge managed to achieve significant savings without altering the partnership with our historic bank."
Engagement Overview
- Audit, benchmarking of cash management
- Price negotiation
- Scope : Germany, UK, Canada, US
Objectives
- Henry Schein wanted to benchmark its existing banks in Europe and North America in order to identify potential savings and possible areas of optimization
Results
- Out of the four countries audited, the largest source of potential savings identified was in the United States
- Bilateral negotiations were then conducted with one of the existing banks
- 14% reduction in banking costs and a five-year price commitment from the bank
Methodology
- Auditing and benchmarking of cash management costs in Europe and North America, followed by two rounds of bilateral negotiations
Value Added by Rdbridge
- In-depth knowledge of cash management in Europe and a time-tested, specialized expertise on management of banking relations in the United States
- Tailored negotiating process in order to obtain the greatest possible savings while preserving the quality of service and long-term partnership between Henry Schein and its banks