morganyoung
reducing costs, improving profit
Welcome
Morgan Young is the UK’s Independent Cost Reduction Specialist.
We specialise in providing sustainable cost reduction solutions designed to reduce business expenditure and improve bottom line profitability.
Our impartiality is critical. We act independently of all service providers and do so in a thorough, conscientious way that respects your existing supplier relationships. We assimilate data from suppliers and independent organisations and apply that knowledge to benefit our clients. Our fees are funded entirely by the savings identified for you. If there are no savings, there is no fee.
Increasing profits without increasing sales
Non-core products and services tend to fall outside traditional procurement controls. Consequently, they provide a positive opportunity to generate meaningful savings and substantially increased profits.
Whether your organisation operates from one site or from multiple locations across the UK, Morgan Young can work with you to reduce your overhead costs.
We work unobtrusively through a structured process, focusing our resources on those cost categories most likely to yield meaningful savings. These are achieved by improving supplier performance, greater purchasing efficiency and simply identifying where our clients can secure much better value for money from their suppliers.
About Us
Industry background
Historically, the market for cost reduction services has been fragmented and dominated by narrow specialisations. So, for example, tariff analysts identified optimal tariff structures, whilst utility analysts confined their views to telecommunications or energy expenses. Management Consultancies would offer audits of business processes and purchasing procedures. Too often, these expensive reports would sit on the shelf, awaiting action.
In contrast, Morgan Young offers a comprehensive portfolio of integrated cost reduction services comprising:
- Cost Management Consultancy
- ‘Free’ Cost Audits
- Tariff Analysis
- Rebate Error Analysis
The advantage of this approach to our clients is more than merely the simplicity of dealing with one party. From our experience in looking at the overall procurement structure of many organisations and by closely working with sector specialists, we are able to quickly focus on the areas where your profit leaks are most likely to occur and in addition, provide sustainable cost reduction solutions that optimise total best value.
What makes us special?
We offer a unique combination of independence, transparency, flexibility and a comprehensive Profit Improvement Guarantee.
Independence – We act independently of all service providers and suppliers. It is this that enables us to act in your best interests. Through us, you have access to the most desirable supply sources – not just the favoured few. Morgan Young is a cost reduction consultancy that only has one agenda – yours.
Transparency – Simple really. We always take the clean sheet approach and work in client partnerships based on trust. We earn that by making our costs transparent. It follows that we’re completely open about our charges and happy for you to see supplier quotes and invoices or to audit our performance.
Flexibility – The ability to adapt and react quickly to changing market conditions is not an optional extra. We offer a highly flexible project management service delivered through investment in some of the best industry experts, supported by strong relationships with an extensive network of suppliers. Our emphasis has always been on people, skills and relationships, not scale. We do not work with vast unwieldy databases crammed full of suppliers we rarely work with.
We Guarantee Performance – Morgan Young has one objective – to provide clients with significant and sustainable profit improvement through the identification of cost saving solutions and optimising best value. Since we focus our efforts purely on this and nothing else, we are able to offer a unique ‘Profit Improvement Guarantee’ – if we are unable to identify savings there is no fee. Effectively, we offer a ‘risk free’ service.
Unlike most Management Consultants, we also help to implement our solutions and then go on to track those implementations, identifying and remedying non-conformity thereby ensuring clients realise the full benefits of our service.
Morgan Young maintains alliances with a network of professional expense reduction experts in specific industry sectors. We select alliances with quality service providers and independent consultants thereby enhancing the cost saving opportunities we are able to offer our clients. Only those companies that can match or improve the level of service our clients currently enjoy are considered for inclusion.
Please contact us for more information on developing an alliance with Morgan Young.
Associations and business groups can leverage their groups’ buying power to provide their members with exclusive, cost saving offers utilising our comprehensive database of quality suppliers and service providers.
Not only does the group gain an additional revenue stream but in addition, Morgan Young’s managed service can be tailored to meet your organisation’s exact requirements enabling it to differentiate itself and increase the value of membership.
To arrange a free and confidential discussion please telephone us on 01923 750 900, or contact us via the enquiry form and a senior consultant will be in touch with you shortly.
What We Do
Our approach
Morgan Young consultants work entirely on your behalf, independent of suppliers, service providers, agents or any other outside influences.
We offer potential clients a detailed, FREE Cost Audit focusing on indirect costs to demonstrate the significant potential profit improvement opportunities that exist within most organisations.
Our methodology involves quantifiable as well as quantitive analysis to ensure we gain a balanced perspective for the solutions we ultimately recommend. We conduct open and positive discussions with key internal personnel as well as external suppliers or service providers.
With our aggregated purchasing power, extensive supplier database and detailed market knowledge we can often bring meaningful competitive advantage to supplier negotiations without compromising existing quality or service standards.
We specialise in providing independent cost reduction solutions in the following areas:
Telecommunications
Fixed Line Services
Mobile Communications
Data Services
Private Networks and VPN’s
Merchant Services
Credit Card Fees
Processing Technology
Terminal Costs
Utilities
Electricity Supply & Pricing
Gas Supply & Pricing
Distribution
Courier
Road Freight
Parcels
Commercial Insurance
Premium Cover & Service Review
Public Liability
Professional Indemnity
IT Maintenance
IT Support
Data Security
Disaster Recovery
How we save you money
Our methodology is structured and painstakingly detailed. We do not provide instant results. Off the shelf responses are rarely in the client’s long term interest. The research, audit and analysis stages may take between 4 to 8 weeks, depending on client size and project complexity.
For further information on how Morgan Young can work with you to manage your costs effectively, please contact us.
What's in it for You?
Service Benefits – at a glance
Free, cost audit report.
We undertake a free audit to establish potential profit improvement.
Self-funding solutions.
Our cost reduction programmes are completely self-financing and performance based. If we are unable to identify cost savings, there are no fees.
Profit improvement.
Our focus is reducing indirect costs, obtaining best value and improving profitability, not reducing headcount.
Independence.
Morgan Young act independently of all service providers and suppliers. From our viewpoint, there is only one agenda: yours.
Transparency.
Our assignments are based on client partnerships based on trust. We earn that trust by making our costs transparent to our clients.
Clear recommendations.
Our reports are clear, detailed and focused. Moreover, they are written in plain English.
Specialist knowledge.
Our analysts and partners are sector specialists enabling us to provide you with the best possible advice.
For a free and confidential discussion, contact us today to discuss how our professional services can help you reduce your indirect costs.
Our Fees
Self Funding Solutions
Our fee structure is ‘contingency based’. In other words, Morgan Young’s fees are based on a share of each profit improvement or cost reduction we secure for you. No payment becomes due until the audit has been completed and we have submitted a successful Recommendation Report.
The cost reduction process is entirely self financing and based on the comparison between the benchmark price (i.e the price that prevailed before our involvement), and the lower negotiated price. This forms the basis for our remuneration.
Since there are no up-front charges, the saved cashflow funds not only a profit improvement, but also our fees. We earn our reward only as a proportion of the cost reductions we deliver for a fixed period of time.
There are no other charges as you continue to benefit from the savings identified by Morgan Young.
Consultancy Arrangement
As an alternative, we offer clients the facility of paying a fixed, daily consultancy fee for the duration of the assignment only. This is not contingency based or dependent upon potential savings.
Cost Audit Review
Our FREE Cost Audit
Why offer a Free Review?
Quite simply, to demonstrate the potential cost saving and profit improvements we may be able to deliver to your business. We believe that carrying out a Cost Audit is the first step in understanding and benchmarking a company’s current level of performance in the supply chain process. By understanding your existing purchasing and supply arrangements we are able to:
- Provide an independent assessment of your market position
- Take account of specific long term operational objectives
- Recommend clear, specific and sustainable cost saving solutions
The audit process.
During the initial site visit, our consultant will:
1. Liaise with key line management and staff to gain an understanding of your organisation’s purchasing methodology and discuss any possible historical issues.
2. Spend time with the purchase ledger department to acquire relevant copy invoice documentation or management reports. We do not remove any original documentation from your business premises.
From these activities, we gain a focused understanding of the real cost issues and dynamics involved. This enables us to develop a cost saving programme that will provide practical and long term profit improvements.
After the targeted cost centre has been audited and the analysis completed, a Recommendation Report is prepared. This details your benchmark costs, the savings we believe are achievable and the route to realising those savings. On your approval of our recommendation, in whole or part, we then move forward to implementation.
To book a FREE, no obligation Cost Audit, please click here or alternatively, call us on 01923 750 900.
FAQs
Frequently Asked Questions (FAQs)
These are some of the more common questions we often get asked. We hope these answers prove to be helpful but should you need further information, please do not hesitate to contact us. Thank you.
No. We do not recommend a change of supplier purely on the basis of best rates or prices. Our focus is on best value overall. Service and quality issues are always as important as price.
We always include your present supplier in our supply discussions. Indeed, an important part of our review process is understanding which supplier relationships you place a particular value upon and why. We then carefully take this into account when conducting our detailed analysis.
When suppliers are faced with third part negotiations and a competitative tender situation, they often review their price structures either to retain the existing business or gain more business as your needs are better understood.
We ask you to sign a straightforward, one page agreement which sets out in plain English, the basis upon which we will work together and our joint responsibilities.
This is actually a common misunderstanding. Morgan Young does not sell any services or products. We provide our clients with independent, expert advice designed to ensure you optimise ‘best value’ procurement at all times.
No: our requirements are very limited. We need to see key documents (generally invoices and contracts) and to understand the context of your involvement with each supplier. Beyond that, the audit is largely an off-site process.
Because of our constant involvement in each of the specific markets we investigate, we have acquired critical market knowledge and understand where ‘best value’ is to be found. In an age in which the price trend in many sectors is downwards, this is invaluable information that we can use to your advantage. In addition, the sheer volumes of business placed by Morgan Young and our sector specialists, commands the respect of good suppliers and this is reflected in the prices they offer to us.
All information is accepted in strictest confidence and used only in relation to the specific tasks we perform on your behalf. We do not remove any original paper documents from your premises and all copies of electronic data are returned to you on completion of our review.