Cost Savings (CS)
Employees have a sharp eye for waste. But often those observations go unreported, either because they’re not sure how to report them, or they’re afraid of being reprimanded for pointing out what could be a sensitive topic. And even if they get reported, there’s no methodical way to manage the idea, receive approval to institute change, and then validate the result after a certain period of time. The result is many thousands, if not millions, of dollars a year in missed opportunities.
The DevonWay Cost Savings solution fixes these problems by:
- Providing an intuitive, central way to capture suggestions across the organization
- Allowing employees to enter suggestions anonymously
- Managing the entire lifecycle, from screening to analysis to verification
Cost savings are broken down by type (cost avoidance, manpower reduction, etc.), method (RFP, contract negotiation, etc.), and level of effort. Scheduled follow-ups track actual versus expected results, and integrated analytics ensure expected benefits continue to be realized annually over several years.
For more details on how you can achieve significant cost savings by leveraging the great ideas your employees already have, please contact us.