Despite widespread adoption of formal cost reduction efforts, a recent study by The Hackett Group reported that three out of four Global 1000 companies are not generating cost reductions that match declining profits. At the same time, many companies still lack control over indirect expenditures, forfeiting hundreds of millions of dollars in cost savings opportunities.

Finance leaders at companies such as Whirlpool, Kimberly-Clark and Hertz are leveraging their influence across business units, along with innovative outsourcing solutions, to attack these expenditures and drive significant cost reductions. Many are getting started by addressing an area of spend that, according to The Hackett Group, is an untapped source of immediate savings.

During this webcast, Tom Willman of The Hackett Group and Carl Guarino of ICG Commerce will share:

• How finance executives can drive significant reductions in outside expenditures
  
  
• Findings from a recent study by The Hackett Group that highlight an area of hidden cost and opportunity for immediate savings
  
  
• How to quickly and effectively start capturing these cost savings