Case Study: Renewal or RFP?
Dryden guides Fortune 100 client in the strategy discussion of RFP vs. Renewal to maximize savings and value.
Fortune 100 consumer goods company with an agreement expiring within 12 months solicits Dryden’s help in determining the relative benefits of renewing the existing agreement vs. running an RFP. The client has been with the current distributor for over 7 years and was concerned that they were no longer receiving best in market pricing.
Dryden’s approach to a renewal yields maximum savings analogous to an RFP via deep domain expertise and market intelligence.
- Industry expertise
- Best practice in contract creation
- Transition time and expenses
- Treat a renewal as an RFP
Scope of Services
- Utilize program data from duration of previous contract to determine best ratios and high spend items
- Benchmark renewal contract pricing against Dryden’s detailed database
- Locate and rectify vendor friendly contract clauses
- Ensure volume appropriate rebates and incentives
- $1.2 Million in product savings and rebates and incentives
- Minimal client FTE time and expense
- Continuously auditable and benchmarked program
- 100% transparent process