Paul Wheatley initially met with F Hinds’ Director Neil Hinds and as a result, Neil engaged Expense Reduction Analysts to review the company’s expenditure on stationery where an average saving of 19% was achieved. Neil was very impressed and invited Paul to look at a further four cost areas – mobile communications, couriers, packaging and printing.

Due to the range of expenditures F Hinds wanted Expense Reduction Analysts to review, Paul invited a number of colleagues to form a project team to conduct the series of analyses, drawing upon Expense Reduction Analyst’s array of specialist knowledge.

The team turned their attention to a packaging review which resulted in profits on both general packaging and specifically on jewellery boxes. Their analysis of plastic bags revealed that F Hinds were already achieving best value in this area so he was able to give the good news to Group Accountant, Steve Cornwall. Steve, who manages F Hinds day-to-day relationship with Expense Reduction Analysts, was delighted and commented: “Obviously I am always pleased when Expense ReductionAnalysts report a profit improvement, but it is also pleasing to receive external confirmation of any area where we are already getting the best service at the best price.”

Meanwhile, Expense Reduction Analysts’Steve Parrott focused upon F Hinds’ use of couriers. He explained: “We focused on one of the incumbent suppliers, providing longer distance national services, and by a combination of negotiating improved tariffs, selection of more appropriate services plus some simple administrative and operational changes; I was able to present a 30% profit improvement”. Neil Hinds agreed: “Expense Reduction Analysts not only highlighted that a profit improvement could be made using our existing criteria, but also enabled further profit improvements by changing the way in which we operated with our incumbent.”

F Hinds Profile

F Hinds was established 150 years ago and is now the UK’s leading independent jeweller. It is a family owned and run business which provides a friendly and professional service to its customers through its 100+ branches across England and Wales.