When it comes to running a business effectively, a number of buzzwords are often used: zero-waste, efficiency, sustainability, and diversity. The problem is how they become relevant for your business. How you achieve (or attempt) cost-savings can be a tricky task at the very least and usually becomes a time-soaking, company-wide initiative that falls flat.
For the past ten years, Bottom Line Concepts has led North America in helping businesses increase profitability by lowering costs . . . and they do it all on a contingency. They can usually reduce expenses by 20 to 30 percent.
Offering a comprehensive review of expenses plaguing every business, Bottom Line will provide an evaluation to let you know if you should be paying less for expenses like utilities, shipping, and office supplies, among 20 other categories. The report reconciles what you are paying and what you should be paying.
As Bottom Line is performance-based, all fees are derivative of overall savings realized. They get a percentage of what they save you. No savings, no fees. “We define performance in two ways: by looking back in time to identify and recover refunds, and by looking forward and leveraging our buying power, technology, and innovative strategies to identify measurable cost savings,” says Josh Fox, the CEO and founder. “Our clients appreciate our model. We truly are performance-based, and the better we perform, the greater the savings for our clients. We are only compensated upon the realization of refunds and/or savings. It’s a pure, symbiotic relationship.”
The premise is that they go into organizations — regardless of the industry — run their analysis and help businesses bring their costs down. “What everyone is looking for in this economy is lower cost and better efficiency. At the end of the day, the money that we are finding for these companies makes them more profitable,” says Fox.
Ben Richman, Bottom Line’s president says, “We don’t review salaries, and our strategies never consider personnel, we’re just very good at lowering costs everyone pays without changing vendors. We’ve created a process that allows you to pay less for what you have; it’s a great deal for everyone, including the vendor who gets to keep the business.”
Bottom Line operates on three core principles.
Pure contingency — they do all of the work, no cost. Bottom Line’s fees are based on a percentage of what they save for you. If no savings or refunds are realized, clients don’t owe any fees whatsoever. Any percentage of zero is zero.
Most of the time, all they need is a copy of the previous month’s bills. Two weeks later Bottom Line delivers an itemized savings presentation for the client to examine.
No commitment. Bottom Line presents their findings and you choose to proceed or not. If you don’t like the savings opportunity or strategy, they don’t implement; all things remain as is. No fee.
Perhaps most important, Bottom Line Concepts keeps it simple. “Our process requires very little time from you or your staff,” says Richman. “Our one-time data-gather is seamless and easy. We review your bills and provide a detailed report showcasing current spends against what the lowered costs would be once our strategies are implemented. It’s up to the client if we proceed or not, but this report is very hard to say no to!”
Bottom Line Concepts is well known throughout the US and Canada. Its client range includes all sorts of industries and non-profit entities, including clients in or near the Hamptons: Town of Southampton; Southampton Hospital, Winthrop Hospital; a local Burger King franchisee; London Jewelers; Douglas Elliman; and Adelphi University.
“We have been pleasantly surprised by the efficiency, professionalism, and effectiveness of the Bottom Line Concepts team,” says Russell Palmer, the director of business affairs at Adelphi University. “We look forward to continuing our prosperous relationship with the Bottom Line Concepts team for years to come.”
So, how does Bottom Line Concepts measure success? “To me, it’s how much we can save a client. We usually find around 20% to 30% savings, to be conservative, and our savings have no cost, financial, or otherwise, so there is tremendous value add there for everyone. Profits rise when costs are lowered, and we lower costs with no incremental expense like having to hire someone to try to do what we do so well,” says Richman.
“Companies are successful when they are able to use that money to expand, open more locations, invest in technology, improve employee benefits. These are wonderful things that really improve the experiences and lives of people,” says Fox.
Bottom Line Concepts
152 West 57th Street