Cision PR Newswire

"A Path Not Taken: Delivering HR Operational Efficiency Through Vendor Accountability" explores overlooked opportunities to combat rising costs, enhance recruitment efforts, and improve workforce well-being.

NEW YORK, Nov. 20, 2024 /PRNewswire/ -- Optimatum, a leader in vendor management for the HR supply chain, today released its new white paper, A Path Not Taken: Vendor Management in Employer Sponsored Healthcare, which examines the untapped potential of strategic vendor management in addressing some of today's most pressing HR and healthcare challenges.

Drawing insights from over 30 surveys and nearly 10,000 organizations, this comprehensive report identifies opportunities for employers to improve outcomes through better vendor accountability. The paper also provides actionable strategies for cost containment and operational streamlining across the HR supply chain.

"Employers are facing rising costs and increasing complexity in managing healthcare and benefits programs," said David Neikrug, CEO of Optimatum. "Our analysis underscores the critical need to optimize vendor relationships as a key driver of HR operational efficiency and employee satisfaction."

Key Highlights:

1. Understanding Employer Challenges:
   Employers rank healthcare costs, recruitment, and workforce health as their top concerns. Rising medical costs, a tight labor market, and complex employee health needs are putting pressure on businesses to find innovative solutions. The paper reveals that while organizations deploy various strategies, vendor management remains an overlooked avenue for cost savings and operational improvement.
   
   
2. Current Strategies Employers Use:
   The white paper explores initiatives employers have adopted, including digital health tools, mental health programs, and targeted cost-control measures. These efforts, while impactful, are often siloed and lack coordination. The paper highlights how vendor integration and harmonization could amplify these strategies' effectiveness.
   
   
3. The Case for Vendor Management:
   Optimatum introduces a compelling argument for vendor accountability as a strategic business process outsourcing (BPO) model. Organizations can achieve cost savings, better compliance, and enhanced employee outcomes through vendor harmonization, performance scorecards, and data-driven evaluations.

Why It Matters
The paper's analysis concludes that focusing on vendor accountability enables organizations to align their HR supply chain with business goals, improving efficiency and employee satisfaction while addressing rising healthcare costs.

The full white paper, A Path Not Taken: Vendor Management in Employer Sponsored Healthcare, is now available for download at Optimatum's website.

About Optimatum 
Optimatum is a vendor management firm that focuses exclusively on the HR supply chain. It offers turnkey solutions that improve the financials, operating performance, transparency, and accountability of HR Benefit programs while maintaining existing vendor relationships.

Our support of the HR workstream during the M&A lifecycle encompasses operational due diligence, day-one readiness, and post-day-one synergies. We assist sponsors in leveraging their portfolio's aggregate purchasing power to capture value and drive margin expansion.

For media inquiries or to schedule an interview with David Neikrug, please contact:
Ms Suzanne Lyons
media@confidentstrategygroup.com

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SOURCE Optimatum Solutions LLC