ADDISON, TX / ACCESSWIRE / February 1, 2023 / Strategic cost consultancy, Expense Reduction Analysts (ERA) saw noteworthy growth in 2022 and has been named No. 1 in the finance category in Entrepreneur magazine's 44th Franchise 500 ranking. ERA company leadership plans to keep that growth going in 2023 and beyond.
Expense Reduction Analysts received word in early December from Entrepreneur of its selection as the top franchise in its category for the upcoming Franchise 500 ranking. The ranking lists franchises that have stood out during the year through growth and company improvement. There are multiple categories, including financial services, business services, health and wellness, lodging, children's businesses, and personal care businesses
ERA North America CEO Charlie Smith said he and his colleagues were honored and humbled to receive this recognition from Entrepreneur.
"Our consulting partners put in a lot of hard work in 2022," Smith said, "and it shows. I want to commend all our consultants and staff. This ranking wouldn't have been possible without them."
According to company officials, ERA consultant partners reviewed over $6 billion in company annual spending in 2022. But the company leadership says they can go even further and anticipate reviewing over $10 billion in client annual spending in 2023.
One of ERA's newest tools for achieving this goal is SpendVue™, a company-built artificial intelligence. Smith said this AI uses "over three decades of data collection to be relevant regardless of the economic environment."
"ERA is backed by decades of franchise and relevant industry experience," he said. "Through all the trends over a few decades, in a world of confusion, we're a stabilizing force because we understand how to adapt and perform when the stakes are high. There's a clear path of different degrees of support that our new consulting partners can access based on where they are in their life cycle of professional experience and their appetite to succeed."
Smith went on to say that in 2023, they're going to continue to provide their consulting partners with the guidance they need to own and operate what is, for many of them, their first business.
"They're corporate refugees of sorts," he said. The term "corporate refugee" commonly refers to someone that's been downsized or displaced from a long-time corporate career. "We're supplying a clear path for those that don't know how to start, supplying a playbook for those that don't know how to ask, and we're supplying help for those that already have a consultancy and want to use our global brand and tools."
About Expense Reduction Analysts (ERA):
ERA is a business consulting franchise that specializes in strategic cost consulting and reduction. The company has a network of consultants around the globe with expertise in a variety of industries, including automotive, educational services, energy solutions, financial services, construction and engineering, professional services, nonprofits, and transportation and logistics. These consultants work together in joint venture partnerships to analyze the various aspects of client businesses' operations to find areas where money can be saved. After delivering both a visual report and a data report to the client, ERA consultants work with their clients to implement the client's chosen savings option to improve their business processes. After implementation, ERA consultants continue to monitor a client business's performance for at least two years in an advisory role to determine how much money they're saving.
SOURCE: Expense Reduction Analysts
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