Rising cost pressures, labor shortages and supply chain issues drive demand for GPOs
LBMC Group Purchasing Organization (GPO) Saves Businesses Money and Time as They Navigate Persistent Inflation
Nashville, TN, Nov. 10, 2022 (GLOBE NEWSWIRE) — LBMC, a top business consulting and advisory firm in the nation, is experiencing record demand for its Group Purchasing Organization (GPO) offerings to accommodate clients’ needs to cut costs as they navigate record inflation, global volatility, and material/labor shortages. On average, GPOs save businesses between 10-25 percent on annual purchasing.
A GPO is an entity created to leverage the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. LBMC Procurement Solutions’ GPO has a strategically curated business and industry contract portfolio for healthcare companies, legal, financial, and professional services firms, independent businesses, and franchise owners, offering shared savings from pre-negotiated contracts with more than 3,100 industry-leading suppliers.
These significant discounts cover a variety of business needs, including:
- medical/surgical supplies
- office supplies
- office furniture
- shipping costs
- facility supplies/services
- Information Technology (IT) including equipment purchasing
- telecom services
- food and foodservice supplies
- professional services, HR services, payment solutions, and more
Businesses are turning to GPOs to take advantage of savings not only through reduced prices negotiated into the purchasing contracts, but also saving time by standardizing and streamlining the purchasing process, custom options and even enhancing human resources and employee benefits.
“There is strength in numbers when you join a diversified base of 225,000 members representing over 70 classes of trade, and businesses need these cost saving opportunities now more than ever as they navigate this economic landscape,” said Ashley Patterson, Vice President, Client Services, LBMC Procurement Solutions. “The purchasing power when you tap into a $69B combined annual purchasing volume allows clients to really benefit from negotiated pricing that translates into real savings for their organization. Because of the uptick in demand for our GPO services, we now offer two options: a premium, boutique style, procurement solution, and our recently launched stand-alone self-administering GPO.”
About LBMC Procurement Solutions
LBMC Procurement Solutions offers fractional procurement services as a boutique solution that removes scale as an obstacle for clients and a stand-alone self-service GPO. We help businesses better monitor costs, report expenses, and provide spend analysis for any size company with or without purchasing or procurement teams. Full procurement solutions might include every activity involved in obtaining the goods and services a company needs to support its daily operations.
About the LBMC Family of Companies
LBMC is a top 32 accounting and advisory firm that provides complex, unique advisory and compliance solutions to over 10,000 clients across the nation. The firm’s broad range of services includes tax, audit & assurance, transaction advisory, cyber risk services, litigation & valuation, healthcare consulting, data insights, growth and innovation, staffing and HR outsourcing, technology solutions, financial outsourcing and procurement, and high net wealth planning and management for family offices and individuals. Primary industries include healthcare, technology, manufacturing, private equity, professional services, and not-for-profit. LBMC is a top 3 firm in Nashville and a Pacesetter for Growth as well as a Top 5 Regional Accounting firm on Accounting Today’s 2022 Top 100 Firms list, and a 2022 Forbes Top Tax and Accounting Firm. LBMC is proud to be a national Certified Great Place to Work for two years in a row, with more than 750 team members across the U.S. and offices in Nashville, Knoxville, Chattanooga, TN and Charlotte, NC.
- LBMC Group Purchasing Organization (GPO) Saves Businesses Money and Time as They Navigate Persistent Inflation
CONTACT: Lisa Namm LBMC 6153092356 firstname.lastname@example.org
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