Company Overview
Air Methods is an air medical transport provider that operates over 400 aircraft throughout the US, transporting 65,000 patients a year.
Headquarters
Englewood, CO
Employees
1,000 - 5,000
Website
https://www.airmethods.com/Value as a service
Challenge
Patchwork of backend systems with no standard procurement policies.
Manual processes included 100% paper-based invoicing.
Lack of spend visibility and conciliation with more than 8,400 vendors for 300 locations.
Solution
Results
43% decrease in supplier base after consolidation.
$20 million saved in year one against a projected rate of $11 million.
Decreased overdue payments from 5% to 1.8%.
4x reduction in invoice cycle time.
Lowered requisition cycle time from more than 1 week to less than 1 day.
“That changed relationship enabled us to negotiate significant savings in our contracts – $20M in year one and $15M in year two.”
– Mike Kingzett, Senior Director of Business Transformation, Air Methods
