SIB Fixed Cost Reduction acquires stake in legal bill analysis firm
December 19, 2018
SIB Fixed Cost Reduction announced that it has acquired a stake in Santorian LLC, which helps organizations manage their legal invoices and identify overcharges and billing errors to assure they are receiving maximum value from their legal service providers. In addition, Santorian will be using SIB’s proprietary software, which employs OCR and Data Capture technology to streamline the collection and analysis of line item data from invoices. Santorian is now rebranded under the SIB umbrella as SIB Legal Bill Review.
SIB Fixed Cost Reduction specializes in reducing recurring expenses for companies, regardless of industry, by negotiating best in class rates, rectifying billing errors and standardizing service levels with their clients’ current vendors. SIB bills only on the savings they are able to find with a 98 percent success rate at finding savings for its clients.
“The services Santorian provides its clients are, in many ways, similar to what we do at SIB, which makes this a natural fit,” said SIB CEO Dan Schneider. “We each take care of all the heavy lifting behind the scenes so that our clients can focus on their core competencies. The work Santorian does will also be useful for our clients who have asked us about reviewing legal bills for them.”
Santorian protects its clients from being overbilled by outside law firms. The company actively manages and reviews all legal invoices and discusses its findings with the billing attorneys in an effort to reduce the charges to reflect the true value of the services rendered. This eliminates any potential awkwardness with clients having to question their outside counsel directly, while also reducing overall legal expenses.
“Our ability to utilize SIB’s invoice analysis platform will allow us to manage our clients’ relationships with their attorneys even more efficiently,” said Joe DiGuglielmo, Esq, VP of Client Success at Santorian. “Much like how SIB approaches vendors on behalf of its clients to reduce expenses, we approach our clients’ law firms with a cooperative spirit, not a combative one. Our goal is to allow our clients’ in-house legal teams to focus on real legal issues that need their attention and not be distracted by legal invoice review.”
About SIB Fixed Cost Reduction
SIB Fixed Cost Reduction specializes in reducing companies’ recurring expenses. The company, which has grown to include offices in Charleston and New York, only bills based on the savings they find, and clients are not billed until savings are realized. SIB has analyzed over $3B in spend across more than 50,000 locations nationwide. This expertise across a variety of industries and audit categories allows SIB to effectively rectify billing errors and negotiate lower pricing for its clients without changing vendors or reducing service levels across dozens of spend categories, including telecom, utilities, waste removal, bank fees, maintenance contracts and more. For more information, visit www.aboutsib.com.
About SIB Legal Bill Review (formerly Santorian)
Based in Philadelphia, SIB Legal Bill Review serves as an advocate for its clients by actively managing and reviewing their legal invoices to assure they are receiving maximum value from their legal service providers. The company then works directly with its clients’ billing attorneys to revise the charges to reflect the true value of the services rendered. Founder Joe Hopkins, Esq., has over four decades of experience as a highly respected attorney, employing a team of analysts who understand firsthand the systemic culture and method by which law firms bill their clients — and are well-versed in identifying charges that do not deliver corresponding value to the client. For more information, visit www.siblbr.com.
