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Chicago-area finance chiefs work together on common issues.(News & Numbers)
The CFO Roundtable, a group of finance executives from city, county, and state agencies based in Chicago, meets once a month to discuss matters of mutual concern. Many of the group's efforts have focused on the potential for saving money through joint procurement, but the members also benefit from coming together to talk about common issues.
Most recently, members have been looking into possibilities for joint purchasing of electricity, natural gas, motor fuel, and vehicle maintenance. The goal is to save money through direct purchasing and also on administrative costs.
One example of a successful group effort is consolidating employee pharmaceutical purchases. When the agencies entered into a joint contract with a provider in 2004, roundtable members estimated that the group would save a combined $13 million to $14 million. One requirement the group insisted on was that the provider open a walk-in facility in the centrally located county administration building to make it easier for employees to get prescriptions filled; the location opened ...
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Source: HighBeam Research, Chicago-area finance chiefs work together on common issues.(News...