Even With Oil Volatility, Firm Eclipses $125 Million In Hard Dollars Saved
August 17, 2005
Cincinnati, OH – August 17, 2005 – Reports of record gas and oil prices, negative consumer reactions and the anticipated impact on retail prices has left many businesses no choice but to raise prices or lower profitability expectations. But, according to top operations expense management firm Cadence Network, energy may actually be an area where significant savings are hidden, and waiting to be uncovered.
Pioneers in the energy and operational expense industry, Cadence Network has eclipsed yet another savings milestone, having now surpassed $125 million in aggregate hard dollar savings for clients since its 1997 inception. The actual hard dollar savings have come about through a combination of operational expense management solutions. Some of the results include reimbursements made to clients based upon finding and correcting invoicing errors, remedying incorrect electricity and telecom rate structures, identifying usage anomalies, performing lease audits and energy procurement.
“Believe me, savings exist,” Cadence CEO Jeffrey Hart says. “Most businesses would be amazed at the efficiencies of process our organization brings to the table in procuring energy better, spotting areas of usage waste, and finding those needles in the haystack that needlessly cost businesses millions of dollars each year.”
Hart adds that while the cost of energy and other finite natural resources continues to increase, the new energy bill is likely to reward businesses with a proactive energy conservation and energy management strategy. He says Cadence Network will be a “strong advocate” for those businesses looking to take advantage of the energy bill provisions.
“We are the largest and most successful operations expense management company in the North America,” CEO Jeffrey Hart said. “When we started, this industry was in its infancy, and we pioneered this segment of business process outsourcing. We save our clients significant dollars, while giving them unprecedented visibility and control of their sites at a micro and macro level, enabling actionable business intelligence never before available in operational expenses.”
Hart points to a recent situation in which Cadence Network rate analysts discovered a majority of sites for a client were on the wrong rate and immediately saved the client $560,000. Finally, through better energy procurement, Cadence Network identified purchasing opportunities in deregulated markets throughout the United States that resulted in $4 million in hard dollar savings.
“And with the cost and volatility of gas and energy, every bit helps,” Hart said. “Cadence Network enables businesses to be more competitive on a national and even global scale because we proactively find these savings, and make them a reality for our clients.”
About Cadence:
Cadence Network, Inc. delivers comprehensive utility, telecommunications and lease facility expense management to chain stores, multiple site businesses and government. The people, services and software of Cadence Network proactively enable business and government to gain control over electric, gas, water, waste, lease and telecommunications expenses by streamlining such services as invoice auditing and payment, rate analysis, and procurement. At work in over 200,000 locations nationwide, Cadence Network is a EnergyStar Partner of the United States Environmental Protection Agency and a proud supporter of The Arbor Day Foundation.
CONTACTS
Cadence Network Contact: Ben Dolan, Cadence Network, Inc. 866-CADENCE (866.223.3623) bdolan@cadencenetwork.com