Overview
- Audit, benchmarking of cash management
- Price negotiation
- 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. These resulted in a 14% reduction in banking costs and a five-year price commitment from the bank.
Redbridge’s Role
Auditing and benchmarking of cash management costs in Europe and North America, followed by two rounds of bilateral negotiations.
Value Added by Redbridge
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.