Michael Bosco introduced Ken Ward with Schooley Mitchell. Ken is from New Hampshire, did his undergraduate work at Rutgers and got his MBA at Penn State. He came to Texas in the mid-80’s. Ken has worked in financial services with powerhouses like Opennheimer and Deutsche Bank. Ken and his wife, Claire, spend a lot of time supporting their boys’ endeavors at Jesuit.
Ken explained how Schooley Mitchell works for their clients to reduce their telecom and merchant services expenses painlessly!
Companies typically spend 35% more than they need to on telecommunications and credit card services. In a recent survey, 81% of participating companies had errors on their telecommunications bills. Most companies lack the time, resources and knowledge to optimize their telecom spending.
Schooley Mitchell is the largest independent cost reduction consulting firm in North America. They were established in 1980. Dennis Schooley was an accountant and found that telecom was costing businesses too much and started this business. They have over 300 professional consultants across North America and over 20,000 clients. They have $390 million in documented savings delivered to clients, with an average savings of 28%. They have specialized software, benchmarking tools, and best-in-class pricing databases. Schooley Mitchell is independent and objective; akin to no vendor. Their services cost nothing to the client; fees are earned by saving money for clients.
Schooley Mitchell can help with cost reduction in many areas like: local phone service, VoIP, wireless, long distance, WAN, remote access, internet, calling cards, conferencing, paging, web hosting, network security, credit card services, and others!
Schooley Mitchell is objective: their solutions are in the best interests of their clients. Their clients incur no expenses, use no internal resources, incur no risk, and are always in charge of a go/no-go decision. Their fee comes from “found” money. If there are no savings, there is no fee. 90% of companies reduce expenses by more than 18%. The average savings is 28% and 80% never have to change vendors. (Why not change vendors? It is a lot of work and typically the clients would rather not change their vendors.)
Customer support provided includes:
- coordination of implementation and project management,
- single point of contact to deal with all carriers and service issues
- subject matter expertise across a wide range of services
- understanding of the client’s entire telecom environment
- validate savings/bill accuracy on a monthly or quarterly basis
- stay on top of industry trends, FTC rulings, vendor shake-ups
Schooley Mitchell’s analysis includes benchmarking to clearly establish current costs and phone-by-phone, line-by-line, feature-by-feature analysis to uncover savings opportunities and identify billing errors. They also examine the entire marketplace for the best options.
All clients receive a high quality, detailed report with at least two alternatives and the client chooses which, if any, recommendations to implement. There is no risk to the client! If there are no savings, there is no fee! They are motivated to identify the greatest amount of savings possible for their clients. They perform quarterly audits over the life of the agreement to look for additional savings.
Ken will do a joint open house with Jennifer Blakeney after her presentation in the spring.