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David Gloski

Powerful Cost Optimization Solution Delivers Big Savings

David Gloski - 7 August, 2018

Large companies spend big money to manage and maintain their properties and operating locations annually. Utilities, communications, transportation, maintenance and repair are all part of a technical operations spend which can rival costs associated with producing the products or services the company is known for. The team at the Collaborative Work Environment (CWE) focuses on helping companies save money by streamlining technical operations spend by 15 – 30%, as well as put in place methods to monitor and track best practices in technical operations management.

Learn more about the Cost Optimization Solution delivered by CWE and powered by xOverTime here.

 
The core of CWE’s approach is a cost optimization process which started as a series of spreadsheets and has evolved with the help of xOverTime to become a powerful cloud-based enterprise solution. The primary elements of the solution include:
  • Technical Operations Spend Matrix Creator– Using general ledger and accounts payable information, technical operations spend can be analyzed in various categories such as utilities, communications, maintenance, etc.
  • Project Capital Expense Evaluator– Prospective cost savings projects are evaluated for their ability to deliver cost saving.
  • Glide Path Prioritization– Prospective projects are ranked and prioritized considering overall costs, projected savings, timelines, and other risk factors.

These tools identify savings targets, quantify prospective project ROIs, and rank the projects in a “Glide Path” information graphic.

xOverTime’s spreadsheet performance management technology controls the data across the various tools. “xOverTime allows our staff to continue with our proven spreadsheet analytics while reaping the benefits of a cloud database. The data from xOverTime supports the whole process and becomes the basis for many of the reports and graphics delivered as part of the CWE,” says Chris Beall, CWE Product Manager.

While this Cost Optimization Solution supports initial prioritization and project selection, the data is updated with actual implementation costs and savings once the projects are completed. Monitoring project performance informs subsequent project analyses and leads to an ongoing cost optimization environment.

Supporting CWE in the delivery of a world class Cost Optimization Solution has been a great experience for the xOverTime team. We’re proud to be a part of a practical and proven process yielding eye-popping client savings when applied to large operations, and look forward to expanding capabilities around ongoing technical operations spend analysis and reporting.

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