As finance experts, you provide vital support for the company’s strategic and business decisions. While it is not unusual for companies to prioritize finding savings within cost expenditures, it often only focuses on short-term results. Organizations' finance departments must focus on developing a more sustainable, long-term approach by being proactive in seeking additional cash flow through strategic cost-optimization practices, including cost reduction strategies.
Stephen Carrabba is a Connecticut entrepreneur who founded Expense Consulting, Ltd. in 2009. A graduate of Suffield Academy and Babson College, he established a specialty manufacturing company while investing in real estate upon college graduation. Gaining experience in controlling expenses to maximize profits, he developed protocols and procedures which he believed were translatable to other industries and organizations. Leveraging his knowledge and negotiating skills, he turned his passion for saving into a business. The success with Expense Consulting was almost instantaneous when Stephen was able to single-handedly save his first client over $115k with only a few weeks of effort.
With Stephen’s guidance, Expense Consulting has become a recognized expert in cost reduction and has helped many organizations realize substantial savings. Industries served have included aerospace, manufacturing, health care, transportation, major nonprofits, and hospitality. Stephen prides himself on his attention to detail and perseverance and ensuring that the result of projects are not merely “book-reports,” but are actionable to deliver solid results. Stephen and his team have negotiated thousands of agreements and been responsible for saving tens of millions of dollars. He is a master negotiator who consistently and creatively crafts “out-of-the-box,” win-win deals. Stephen and his wife, Catherine, and their children live in Madison, Connecticut. Stephen was recognized by the Hartford Business Journal in 2014 as a 40 Under Forty Award Recipient and is a recent graduate of the Goldman Sachs Small Business program for growth-driven entrepreneurs. He is an advisor to A Better World: The Adoption Connection and is a member of MetroHartford Alliance.