Group Pensions
By Michael Jennings Pension reform will gradually affect all businesses employing staff. This starts in October 2012 and over the next few years will gradually affect businesses from the largest to the smallest. If companies do not take early action they will be left putting arrangements in place at the last possible minute. Without doubt, those that rush into last minute arrangements stand a greater chance of picking the wrong deal for them and their employees. A Group Pension Scheme is something that any business can prepare for in advance. With this in mind Avenue UK have selected...
read moreReducing Business Costs – It’s not for everyone.
By Michael Jennings I was at a gathering of business folk the other day and ended up having one of those conversations that make you raise a quizzical eyebrow. That said, it did make me realise that saving money; reducing business costs; fiscal efficiency; improved profitability etc…. just isn’t for everyone. So I had best tell you what happened and what it has led me to think. I have known the chap in question for a while and he is well aware of the fantastic savings that the Avenue Purchasing Group is delivering. We were in fact talking about a client of mine, a Recruitment Firm,...
read moreA first time for everything
by Michael Jennings This weekend saw my eldest son score his first ever goal for his football team. Needless to say that after 5 years of waiting he was very very happy – and so was I. It’s not often you see the ref jumping up and down (yes, I was the ref). To be fair on Mikey, he is a defender and so opportunities to score don’t often come his way. Other than being an excited dad at football the last couple of weeks have been very busy. Here’s an overview… I was lucky to be invited to present at a CFDG conference to a group of Charity Finance Directors...
read moreWhat Kind of Saving is it?
By Michael Jennings So the summer is nearly over and the kids have returned to school. I hope you all enjoyed some sun over the past couple of weeks. Since my own return from holiday, I had an interesting conversion with one of my preferred suppliers about how sourcing teams ‘claim’ for savings they make and what they do in the following year after the initial (in the year – ITY) saving. My view was, that if the contract would have continued at the old rate had the saving not been generated, then it is fair to claim ‘Roll’ for year two etc…. although I appreciate not all...
read moreTricks of the trade in Landline Telecoms
By Michael Jennings As part of the launch of the Avenue Purchasing Group we developed a leading deal on Landline telecoms. Over the last week, for one lucky client, it meant a saving on calls of 65% and for others at 58%, 53%, 48%, 41%, and one at 35%. So when I say on the website “Save up to 60% on your calls……”, I am spot on the money; oh and the client with the 35% saving will be saving plenty of money, in fact £7,064 annually. So back to the title of Tricks of the trade in Landline Telecoms. When analysing these bills I have seen a variety of tricks that telecoms...
read moreNo, I am not a Cost Consultant
By Michael Jennings I was asked this question yesterday, as in “are you a Cost Consultant”. It is a question I get asked from time to time. The answer is, ”No, I am not a Cost Consultant” “So what are Cost Consultants and what are you?” is normally the next question. Let me explain…. A Cost Consultant will typically pitch their service on the basis that if they can’t save you anything, they won’t charge you anything – and that if they generate a saving they will then ask you to share a percentage of that saving with them. It all sounds good, but the problem (and this is...
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