Expense Reduction Analysts Reviews

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Michael Nicholas
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  1. Franchise Owner at Expense Reduction Analysts

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - License Owner
    Current Employee - License Owner

    I have been working at Expense Reduction Analysts full-time (more than 5 years)

    Pros

    Complete independent and autonomy. 100% revenue driven business. Income is unlimited. There is a centralized back office for client and project tracking, invoice collection and distribution.

    Cons

    100% revenue driven business. Extremely mixed earnings results based on clients obtained, projects, spend categories reviewed, etc. You can earn a lot or nothing. Company does not work in a centralized fashion for delivery of analytics which limits the sophistication of the offering. No centralized business development. There is no underlying technology except that which is used individually in the field.

    Advice to ManagementAdvice

    The company has made some steps towards a more structured organization model, but has been hamstrung by the underlying franchise business model. The need for the iteration of product offerings is dire. The corporate office has some familiarity with client requirements, but would be better served by having complete integration of the field and corporate.

    Doesn't Recommend
    Neutral Outlook
  2. Be prepared for a lot of hard work for often no/little results.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Expense Reduction Analysts full-time

    Pros

    Obviously, flexibility in schedule and the chance to build your own successful business. The franchisees are collectively, a helpful, intelligent group.

    Cons

    Can work long hours with no earnings. No savings means no earnings but the work to find/not find savings is often the same. It takes a long time to build up a base so be prepared for no personal revenue for many months.

    Advice to ManagementAdvice

    Be more realistic in setting the expectations for franchisees as to income generation and growth, especially in the beginning.

    Doesn't Recommend
    Positive Outlook
  3. I have had an Expense Reduction Analysts franchise license for several years.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Consultant
    Current Employee - Consultant

    I have been working at Expense Reduction Analysts full-time (more than 3 years)

    Pros

    The network of consultants. Client relationship managers can deliver savings recommendations to their clients by choosing from a network of category specialist expense analysts . On the services delivery side, analysts with expertise in one or more expense categories gain access to a nationwide market opportunity by working with and through the client relationship managers.

    Cons

    Success is based on each consultant coming into the business either with a strong aptitude for selling to and working with clients' C-suite or with detailed experience in one or more expense categories.

    Advice to ManagementAdvice

    Emphasize collaboration among the licensee consultants

    Recommends
    Positive Outlook
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  5. Fairly autonomous, independent "networked" consulting firm that requires a very strong skilset for success.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Regional Director in Boston, MA
    Current Employee - Regional Director in Boston, MA

    I have been working at Expense Reduction Analysts

    Pros

    Given our "network" or affiliation structure, you have total autonomy over your time and earnings results. Some of the individuals in the firm are top performers.

    Cons

    You must be almost totally self-sufficient in your work. Unless you have a "sellable" analytical or cost category expertise, you must acquire your own client base. Due to our independent structure, there is limited knowledge sharing across regions or within cost categories.

    Advice to ManagementAdvice

    The business model needs to be adjusted to allow for much stronger cooperation across regions and within categories. We have too high a cost of delivery for the typical size of clients and projects at ERA.

  6. Worked at Expense Reduction Analysts (UK) full-time for more than 5 years.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Expense Reduction Analysts

    Pros

    The network of consultants deliver savings recommendations to their clients on Overheads.
    Purely success fee consulting.

    Cons

    Minimal support in business development.
    Very expensive franchising fee

    Advice to ManagementAdvice

    Emphasize training and support for licensee consultants

    Doesn't Recommend
  7. Interesting and varied but low pay for most

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Consultant
    Former Employee - Consultant

    I worked at Expense Reduction Analysts full-time (more than 8 years)

    Pros

    As a franchisee you have lots of freedom to work as little or much as you like, so you are your own boss

    Cons

    This is a crowded market place and the majority of franchisees earn an average income

    Advice to ManagementAdvice

    Less franchisees would increase the income of those remaining, more added value to clients is needed in order to differentiate Expense Reduction Analysts from the comoetition

    Doesn't Recommend
    Neutral Outlook
  8. My opinion and review of ERA

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Managing Director in Porto, Oporto (Portugal)
    Current Employee - Managing Director in Porto, Oporto (Portugal)

    I have been working at Expense Reduction Analysts full-time

    Pros

    good commercial proposal, coaching and team

    Cons

    risk of business, non notorius mark

    Recommends
    Neutral Outlook
  9. Need a big nest egg to start

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Director
    Current Employee - Director

    I have been working at Expense Reduction Analysts

    Pros

    total freedom of schedule and ability to do what interests you personally

    Cons

    difficulty in starting up the business, long lead time for payment

    Advice to ManagementAdvice

    give more realistic timelines for earnings

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