The cost reduction process, which is able to deliver cost savings of up to 20%, works by eradicating any excessive or hidden agency margins, without having to reduce the level of pay to the worker. This allows clients to benefit from the creation of one set of unified, transparent rates for agencies to work to. In essence, the client knows exactly what they are paying for agency services and are confident the price is completely fair.
Further savings are gained by the consolidation of all agency supplier invoices into one weekly invoice, greatly reducing the administrative burden of paying and tracking multiple invoices across an agency supply panel. Instead, you would be paying one invoice per week, with Neuven then managing and generating payments to the multiple panel of agencies. This not only saves your accounts team time and effort, but also allows Neuven to act as a buffer between your accounts team and any agency payment queries.
A number of neutral vendor and master vendors on the market inflate costs, to pick up extra ‘stealth margin’ on hours, meaning that, although a client believes they are saving money, they are in fact still over paying for their agency labour. As Neuven work in a completely transparent way, we have been able to eradicate those stealth margins, agree a fair and transparent fee, and generate significant savings for clients, even when they have been been with a previous neutral or master vendor.
To find out more about how Neuven can benefit your business, please get in touch by navigating to our Contact page and sending us an enquiry.