SOURCE: Silver Oak Solutions

June 14, 2005 12:00 ET

Silver Oak's Leveraged Purchasing Power ® Secures National Innovation Honors

NASCA Honors New Mexico's Strategic Sourcing Program for Expanding Instate, Small-Business Spend

PHOENIX, AZ -- (MARKET WIRE) -- June 14, 2005 -- The National Association of State Chief Administrators (NASCA) will honor Governor Bill Richardson's "Save Smart New Mexico" (Save Smart) project for improving government efficiency; creating lasting cost savings; and expanding the state's work with in-state, small, and minority-owned businesses. At its annual meeting in Phoenix, NASCA will present the Save Smart team its "2005 Outstanding Program of the Year Award."

"With accurate information, large buyers and small businesses will find creative ways to save each other money. That's good business, good management, and better government," Governor Richardson observed.

Silver Oak Solutions, the pioneer in strategic sourcing for the public sector, is the Richardson administration's partner for the Save Smart program.

"There's an incorrect assumption that the only way strategic sourcing creates lasting savings for taxpayers is by awarding state contracts to the world's largest companies. The NASCA award proves that point to be exactly wrong," said John West, Chairman of Silver Oak Solutions. "Governor Richardson made clear that his priority was to create cost-savings by using -- not excluding -- his state's supplier base. Save Smart combined traditional strategic sourcing practices with an additional eye on expanding work with local and diversity vendors."

The Leveraged Purchasing Power® approach, a process pioneered by Silver Oak Solutions and proven in 10 states, expands the scope of strategic sourcing projects by creating cross-agency state-wide savings, while balancing the unique needs of state and local governments. NASCA selected Save Smart New Mexico after examining some of the best ideas in government in order to identify those that best "demonstrate outstanding leadership skills and innovation, creativity, advanced knowledge, and efficiency in state government" (www.nasca.org).

"Traditionally, governors have tried to improve their budget situations by raising taxes or cutting programs. NASCA's recognition shows that Governors are right to look for a third way," said Dean Dorman, CEO of Silver Oak Solutions. "We helped launch strategic sourcing in the public sector three years ago, but it is our great public partners, like the Richardson administration, that continue to raise the bar."

The partnership between Silver Oak Solutions' Leveraged Purchasing Power® and Governor Richardson's Save Smart New Mexico has already produced results toward the goal of attaining more fiscally responsible purchasing practices, and generating economic growth. Through Save Smart, New Mexico has created over $23 million in annual savings and over $90 million in contract savings on purchases ranging from medical services to mailing equipment. In addition, the program has increased the state's spending with New Mexico businesses by over 35% (as of Dec 2004).

About Silver Oak Solutions

Silver Oak Solutions (www.silveroaksolutions.com) is a leading provider of spend management solutions that identifies, creates, and sustains measurable cost savings in procurement spend. It provides comprehensive, flexible approaches by combining rigorous strategic sourcing processes, in-depth supplier industry expertise, and advanced procurement technologies. Silver Oak is the pioneer and leader in applying spend management techniques to state governments.

Silver Oak's services cover all aspects of executing spend management, including, but not limited to, spend analysis, strategic sourcing, supply chain and process advisory, compliance and savings monitoring, and procurement training. These services are tailored to drive profitability for corporations and budget compliance for state and municipal governments. Silver Oak has generated over 79 spend analyses using its proprietary spend analysis software, evaluating over $197 billion of purchased expenses across more than 60 billion transactions. The firm has also partnered with over 110 corporations and government entities to achieve more than $1.8 billion of recurring annual cash savings on an annual spending of $11 billion. Silver Oak has offices in Boston, New York, Philadelphia, and San Francisco, and serves clients in both private and public sectors.

Contact Information

  • Contact:
    Brian Selander
    Silver Oak Solutions
    Email Contact
    (610) 680-1200