"Redbridge enabled us to obtain better pricing and helped us clearly understand our current and future costs to ensure we maintain a strong relationship with our partners."
Engagement overview
- Calculation of SMCP’s current and future costs based on an in-depth analysis of its current arrangements, RFP responses and a Redbridge benchmark, followed by negotiations with pre-selected providers
Objectives
- Compare potential future costs with current costs in scenarios where the same level of services or additional services were being provided
- Avoid termination fees with incumbent providers
- Obtain attractive pricing with new providers
Results
- Significantly lower costs achieved compared to those set out in the initial RFP (which were already more competitive than what SMCP was previously paying)
- Clear and fair pricing structure in line with SMCP’s growth ambitions
Methodology
- Diagnosis
- Efficient collection of data (statements and information from RFPs)
- Report on improvements that could be made, taking into account current costs, future costs, benchmark and strategy
- Negotiation
- Communication of pricing objectives (individually and overall)
- Several meetings to discuss the proposals
- Conclusion
- Providing support with the contract, service level agreement and summary of the engagement
Redbridge’s added value
- In-depth expertise in payments
- Detailed knowledge and understanding of PSP / acquiring pricing
- Flexible approach to cater to the client’s individual needs