BOSTON — The Boston/West Roxbury office of Schooley Mitchell, North America’s largest independent cost-reduction company, announced it is delivering hundreds of thousands of dollars in ‘found money’ each year to dozens of organizations in New England and New York.
Led by strategic partner Seth Tenenbaum, the office is applying its research, proprietary analytics, and negotiating skills to reduce unnecessary costs associated with must-have services like wireless communications and credit-card processing.
“As more businesses transform their operations due to COVID-19, it’s time to re-examine their ‘legacy’ billing arrangements with telecommunications, payment-processing, package-delivery, and waste-disposal companies,” Tenenbaum said. “There may be opportunities to reduce the costs of these services by as much as 28%.”
From A.D. Makepeace Co. in Wareham, the world’s largest cranberry grower, to Bay State Eye Care Group of Springfield and Longmeadow, careful review of telecommunications charges made a substantial difference. For example, Schooley Mitchell saved Bay State Eye Care $15,000 by removing telco plan features that were no longer needed.
“In the U.S., there are 500 fee categories for merchant services such as credit-card processing,” Tenenbaum said. “To identify savings opportunities, the first step is to be able to navigate this complexity.”
Other Schooley Mitchell clients in Massachusetts include:
• Square One of Springfield, a nonprofit organization providing family-friendly education and support services, which has saved $7,000 in annual wireless charges;
• Creative Chemicals of Holyoke, which manufactures high-quality sanitary maintenance chemicals, which is saving 15% to 20% in credit-card processing fees; and
• R.H. White Companies Inc. in Auburn, a leading provider of commercial construction services throughout the Northeast, which is enjoying annual savings of $80,000 in wireless costs.
Since Schooley Mitchell opened in 1998, the organization has helped 22,000 companies cut these kinds of costs by an average of 28% percent, delivering more than $360 million in documented savings. The company is also helping organizations find the right options for services that are becoming increasingly important, such as e-signatures, where there are many variables to navigate. Schooley Mitchell acts as a single point of contact to optimize expenses and continually manage partner relationships for organizations of all sizes, from the Fortune 100 companies to small businesses. In most cases, Schooley Mitchell identifies new savings opportunities without a vendor change.