The second largest expenditure for most organizations is the cost of employee benefit plans. All companies, regardless of size or industry, need to control these costs.
The primary directives for Human Resources are to attract qualified applicants and retain valued employees. A competitive benefits package is crucial to achieving these objectives.
As a Sourcing executive, you are responsible for acquiring and managing the products and services that your company uses on a daily basis. Third parties administer these services little oversight.
Internal Audit is about driving efficiency, effectiveness and compliance in the business. Applying vendor management principles to the HR Supply Chain will improve these metrics while simultaneously controlling the cost of employee benefits which is the second largest expense for many companies.
Drives value through managing vendors to improve processes and reduce costs, enabling organizations to hold vendors accountable in lieu of traditional cost shifting. Delivers an average healthcare savings opportunity of 10% in year one, with 5-7% year over year.
Realigns vendor agreements, reduces direct costs, ensures data integrity and troubleshoots vendor challenges. Delivers an average savings in excess of 22% of total costs through vendor agreement renegotiation, vendor relationship and vendor service fee realignment.
Optimatum’s approach focuses on right sizing vendor relationships, reducing direct costs, mitigating compliance risk and troubleshooting vendor challenges.
Supports the HR supply chain and related workstreams of organizations throughout the entire M&A lifecycle. Optimatum deploys a fully integrated, cross-functional team of subject matter experts in the areas of Employer Sponsored Healthcare, Retirement Plans, and HR Systems to ensure day one readiness.
The perception is that eligibility data is maintained accurately, that all the data naturally passes from systems, vendors and carriers, and that any discrepancies that might develop are not material.
