Fine Tune Provides 2020 Corporate Growth & Client Update; Recognized as Expense Management Industry LeaderPress Releases • November 05, 2020
CHICAGO, Ill. – Nov. 5, 2020 – Fine Tune, a provider of ‘nuisance expense’ management solutions, updated today on its continued client and personnel growth in 2020, as well as the introduction of new service offerings, enhancements to its Expense Management Optimization and Auditing Technology (eMOAT℠), and ongoing industry recognition for operational and service delivery excellence.
Customer Growth & Client Success
Since the start of 2020, Fine Tune has onboarded a wave of new clients in industries ranging from life sciences and pharmaceutical to manufacturing to equipment rental, (and others in between) to help them reduce costs with uniform, waste and recycling and pest control expenses.
Fine Tune now services dozens of Fortune 1000 clients.
In addition to these new clients, Fine Tune collaborated with long-time clients during the spring and summer to identify and implement immediate supplier cost reduction measures, due to the economic slowdown. For example:
- Fine Tune negotiated two supplier agreements on behalf of one of the largest providers to the printing and packaging industry worldwide. In addition to that, it identified and implemented an additional 8 percent savings on one contract and 9 percent on another, despite already operating under highly competitive, Fine Tune-managed agreements.
- Earlier this year, collaborating with a $4.1 billion global specialty materials company serving customers in aerospace and defense, Fine Tune optimized uniform rental spend mid-contract by ~$125K/year by identifying and removing excess spend.
- A $5.8 billion global metals company is now realizing $117K in annual savings via optimization of current products in use.
- Finally, Fine Tune has delivered $130K in annual savings via various program optimizations with one of the world’s largest airline and rail catering and hospitality companies.
“Due to COVID-19, we’ve been largely unable to travel to complete ‘boots-on-the ground’ consulting at our clients’ sites, so we have found creative ways to drive savings from afar,” said Jason Marchant, Director of Account Management, Fine Tune. “We are proactively reaching out to clients to go through these optimization activities to help identify opportunities for inventory reductions, service frequency changes and product eliminations. The customers who have taken advantage of these efforts have seen an immediate impact to their bottom line in 2020.”
In July, Fine Tune bolstered its waste and recycling division by bringing on Vice President Brian Chesson, the former President of Denver-based 5280 Waste Solutions where he oversaw all aspects of the enterprise with a focus on corporate growth and operational efficiencies.
Most recently, Fine Tune has added security services to its expense management portfolio.
Matt Smith, Executive Vice President and CFO, Fine Tune, commented: “Our work in the security services space has confirmed that it is a perfect fit with our offering targeting the most burdensome and complex indirect expenses. With both guard services and systems each bringing layer upon layer of complexities to this category, resource-strapped procurement teams will inevitably struggle to effectively manage this expense in-house. We’re extremely excited about this new offering.”
Already specializing in uniform rental, waste and recycling and pest control, Fine Tune’s addition of security services to its core offerings provides its clients with a broader and more impactful solution for their “nuisance expenses,” driving both cost savings and departmental efficiencies.
Central to the eMOAT℠ enhancements this year have been the development of a real-time expense category-specific dashboard and inclusion of predictive analytics and machine learning, both of which help anticipate problems before they appear on invoices. These advancements include using artificial intelligence (AI) and machine learning to become even more responsive in spotting trends and anomalies, as well as anticipating needs or actions ahead of time to further drive down costs for clients.
In June, Supply & Demand Chain Executive, the executive’s user manual for successful supply and demand chain transformation, selected Fine Tune as a recipient of an SDCE 100 Award for 2020. The SDCE 100 spotlights successful and innovative projects that deliver bottom-line value to small, medium and large enterprises across the range of supply chain functions.
Fine Tune was recognized for helping Flint Group save over $2.7M in uniform service costs since 2005.
Industry Thought Leadership
Since January, Fine Tune has been highlighted by many procurement and sourcing thought leaders for its vision and innovation protecting client bottom-lines. A few notable podcast programs, featuring Rich Ham, CEO of Fine Tune, include:
- The Art of Procurement with Phil Ideson. Rich provides insight into the unique complexities and challenges associated with managing uniform rental programs.
- The Sourcing Industry Group with Dawn Tiura. Rich shares his inspiring story and cutting-edge point of view with The Sourcing Industry Group as he and his team “fine tune” the procurement industry to deliver lasting, bottom-line impact.
- The World of Procurement with Daniel Barnes. Rich talks about the myth of savings at the sourcing stage and why organizations should consider outsourcing certain categories to ensure they get best in-class outcomes without any of the issues that arise when procuring these services.