RIC Launches a New Company With a Unique Business Model to Serve a $2 Billion Potential Market With a Competitively Superior Value Proposition
Consumer indifference and large-supplier opportunism has created significant price inflation in the off-site document storage sector.
SCOTTSDALE, Ariz., June 21, 2018 (Newswire.com) - RELIANCE INFORMATION CONSULTING (RIC), a leading innovator in off-site document storage, has announced a plan to expand its industry presence with a specific initiative aimed at a more compelling value proposition for customers.
Co-founded in August 2014 by Anthony Scozzaro and Ian Griffin to serve clients with significant off-site storage needs for physical documents, RIC has until now emphasized the legal market and, more recently has moved into health-care, energy, manufacturing, finance and life sciences.
During the company’s tenure, critical intellectual property development has enabled RIC to serve a larger market by adopting a process to meet customer needs. Automation of this process now leads the company to remove the term “CONSULTING” from its name and deliver a set of “intellectually organized services consistently across multiple clients markets,” said Scozzaro.
RIC launches a new company with a unique business model to serve a $2 billion potential market with a competitively superior value proposition.
“We are well-positioned to serve our business, professional and institutional clients,” according to Griffin. “As an independent service company, we maintain relationships with all regional and national storage suppliers. These relationships help us maintain currency with market dynamics and put us in a stronger position to serve our clients by negotiating improved pricing, terms and conditions and removing onerous contingent fees,” he explained.
“As a service company we own no storage facilities,” said Scozzaro. “We enjoy good relationships with numerous storage companies in a range of geographical areas, other than our clients, we have allegiance to no one company in particular. This helps us work with a range of facility owners to obtain the best deals for our client companies,” he continued.
RIC envisions a significant un-served opportunity and sees an available off-site storage market for customer savings in excess of $2 billion.
The company plans to serve this market more intensively and deliver significant cost savings to more clients in more industries.
As an independent service provider, RIC’s vision is to develop a market that has economic balance. The mission is to leverage industry knowledge and intellectual systems to improve client expense and liability. This is achieved by creating a competitive interest in their off-site document storage business, the company believes.
Pricing practices in the off-site document storage market today represent the monopolistic/ oligarchical nature of the competitive environment, the founders said, adding that customers experience storage and service pricing increases as the contract progresses and permanent removal fees increase to create a deterrent to change.
Some clients have been indifferent to the increased cost and liability or are intimidated by the perceived enormity of making potentially advantageous changes.
RIC has successfully renegotiated with incumbent vendors who will reduce cost and forego permanent removal fees when faced with losing a client’s business. In the event that the incumbent shows a lack of flexibility, a qualified alternate vendor will provide cost improvements and absorb permanent removal fees thereby eliminating contingent liabilities.
RIC’s business model is proving to be attractive across a range of markets. The RIC agreement is “success-based” and the company has successfully delivered on its value proposition to a range of happy clients.
“At Moody’s Investor Service I was responsible for engaging RIC in our effort to reduce and control our off-site storage costs,” stated Robert Powers, Assistant Vice President, Document Management Group. “RIC delivered on this engagement in a professional manner and were successful in attaining a cost reduction of 34 percent in our annual costs. RIC’s independence and expertise added significant value in reductions in cost and improvements in terms and conditions,” he concluded.
Paula Lawson, Firm Administrator of the Genovese law firm in Miami, Fla., echoed similar sentiments. “Our engagement with RIC was well justified in the annual cost savings of 50 percent we achieved. They are a delight to work with and experts at optimizing the off-site storage contract. We could never have matched their success with an in-house project,” she said.
RIC services include all aspects of current status assessment, both physically and contractually, go-forward recommendation on retention and destruction, competitive bidding process for improved pricing, logistics and indexing of inventory for improved document management.
The company has expanded its marketing force to give complete geographical coverage in the U.S. domestic market and Canada. In addition, RIC has expanded its services from the legal market to include health-care, manufacturing, energy, life sciences and finance.
RIC is located in Scottsdale, Arizona and serves the U.S. and Canadian markets.
Further information is available on our website at http://www.ricpartners.com.
Phone number: (1-888) 742-9926
Mobile: (650) 207 6946
Office address: 7730 E Greenway Road, Scottsdale, AZ 85260
Mailing address: 8175 E Evans Road, Unit 12128, Scottsdale, AZ 85267