Business

Consulting Firm Focuses on Procurement Cost Optimization

Published

1 year ago

April 14, 2023

left, Tom Beatty, Brian Houpt and Brent Eiland, taken at ISG’s 20th anniversary party at The Sanctuary Hotel at Kiawah Island in South Carolina (Photos Courtesy of Insight Sourcing Group)

Insight Sourcing Group celebrates 20 years of serving clients and preserving history.

Unless they are part of a company looking to trim operating costs, most people probably don’t quite know what a business focused on strategic sourcing, cost optimization and procurement operational transformation does. That’s what Insight Sourcing Group has done for more than 20 years from its headquarters in Peachtree Corners.

“We go into companies and look at what they spend money on other than payroll, and we determine ways to take out the cost, often through supplier negotiations,” said Tom Beaty, Insight Sourcing Group founder and CEO.

“We have a couple of different businesses, but the main one is a consulting firm, and we’re the largest consulting firm of this kind of specialized procurement,” he explained. “Strategic sourcing is that process where we get bids from suppliers and negotiate and establish contracts for customers. …We did over 1,000 projects last year.”

Company group shot at the 2021 Holiday Party at The Fox Theatre in Atlanta

Among the company’s clients are major corporations like Genuine Parts, Meta (formerly Facebook), Under Armour, Freddie Mac and Cox Media. Besides being the biggest company of its kind, Insight Sourcing Group is one of the best. It has garnered numerous accolades since its founding.

“We have … tons of customers and almost all of them would be name brands like lulemon and large manufacturers,” Beaty said. “Normally a big part of their revenue goes back out the doors to vendors — something they haven’t focused on in the past. When you’re growing a lot, it’s something you may neglect and then that growth is a little harder.”

Insight Sourcing Group announced 20% firmwide growth in 2022, with 84 new team members added, of whom 23 joined as part of an acquisition. The team drove more than $1.2 billion in contracted savings for the 243 clients served firmwide over the course of the year, completing 1,199 procurement and sourcing projects in 2022, according to information provided by the company.

Insight Sourcing Group has registered growth every year since its founding in 2002, resulting in recognition by Consulting Magazine, which included the firm as No. 24 on its list of Fastest-Growing Private Companies for 2022. Other notable awards for the year include Insight Sourcing Group’s seventh consecutive year on Forbes’s list of America’s Best Management Consulting Firms and its 15^th consecutive year on Atlanta Business Chronicle’s list of Best Places to Work in Atlanta.

Good for environment, good for diversity

Perhaps the cherry on top is the Insight Energy initiative that delivers customized energy and sustainability solutions to reduce costs, manage risk and improve competitive position. It realized an $8 billion client energy spend under management for 245 energy and sustainability clients and an impressive 94% client retention rate.

The year also marked Insight Sourcing Group’s public commitment to a goal of 100% renewable energy by 2030.

“Through our energy management business …we go into companies and …help them actively manage gas and electricity, and then we have a green sustainability practice. We go in and we help convert carbon energy spend to green spend,” Beaty said. “A lot of our clients have [Environmental Social and Governance] goals that relate to green energy.”

Besides helping its clients become more ecologically friendly, Insight helps them work with more women-based and minority-based vendors. The company recently helped a large private equity firm that owns many other companies achieve $2 billion in diverse spending. And Insight was the engine that made the accomplishment possible.

In 2022, the firm’s supplier diversity practice achieved an $18 billion spend prioritized for diversity impact, supported 78 corporate supplier diversity programs and increased each client’s supplier diversity investment by an average of 2.4 times.

Giving back through history

With all those major achievements that enhance businesses, Insight also works hard to give back to the community. Perhaps its greatest philanthropic achievement is the project that records oral history of combat veterans called the Witness to War Foundation.

A year before launching Insight Sourcing Group, Beaty discovered a group of 150 veterans called the Atlanta World War II Roundtable who met monthly to share their war experiences.

Growing up with a fascination for WWII, and later for combat in general, Beaty couldn’t believe that all this rich history wasn’t being preserved. He bought a video camera and launched the Witness to War Foundation in his spare time, despite having no video or audio expertise.

“In 2001, I started interviewing combat veterans …to capture their stories to preserve them for the history as well as for their families and for them,” said Beaty, who is not a veteran himself. “We have a website with over 1,000 war stories on it now.”

The footage will eventually be part of a collection in the Library of Congress. The organization also supplies footage for documentaries and museums as well as other projects. It’s the largest oral history preservation organization of its kind in this country, attending about 20 different military unit reunions a year.

“We’ve done over 3000 interviews, including Senator Bob Dole,” said Beaty. “But we mainly focus on everyday heroes, and we’ve done a bunch of Peachtree Corners veterans.”

Insight was also a major contributor the Peachtree Corners Veterans Memorial in Town Center. It sponsored one of the six statues in the structure.

“There’s a proverb …that says, “When an old person dies, a library burns.” Losing the stories of veterans is kind of the same thing,” said Beaty. “That’s why this is so important.”

Learn more about Insight Sourcing Group at insightsourcing.com.

Related Topics:Insight Sourcing Group Peachtree Corners

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Arlinda Smith Broady is part of the Boomerang Generation of Blacks that moved back to the South after their ancestors moved North. With approximately three decades of journalism experience (she doesn't look it), she's worked in tiny, minority-based newsrooms to major metropolitans. At every endeavor she brings professionalism, passion, pluck, and the desire to spread the news to the people.

Business

VyStar Credit Union Continues Growth in Georgia with the Opening of a Peachtree Corners Branch

Published

1 week ago

May 9, 2024

Peachtree Corners Magazine staff

A grand opening and ribbon cutting ceremony is scheduled for May 29, 2024

VyStar Credit Union has to announced that its Peachtree Corners location is now open at 5125 Peachtree Parkway in Peachtree Corners. This is VyStar’s fifth full-service branch in Metro Atlanta and joins branches in Stockbridge, Suwanee, Smyrna and Marietta.

In support of its purpose to “Do Good,” VyStar partners with non-profit organizations across the communities it serves. VyStar will make a $5,000 donation to the Rainbow Village to celebrate the grand opening of the Peachtree Corners branch at the ribbon cutting event in late May.

“VyStar’s first branch in Gwinnett will provide residents and business owners with better banking options, including free checking, access to early direct deposit, great rates, financial wellness education through VyStar’s Financial Fitness initiative, and unbelievable member-centric service that only a credit union can provide,” said VyStar EVP/Chief Operations Officer Chad Meadows.

The Peachtree Corners branch features VyStar’s digital-forward design, which enhances how employees connect with members. This includes interactive touchscreen kiosks that provide financial tools and allow members to quickly explore the latest products, services and rates.

Lobby and drive-thru hours for the Peachtree Corners branch are Monday through Thursday, 9 a.m. to 5 p.m. and Friday, 9 a.m. to 6 p.m.

VyStar continues to work with local organizations to build up the communities it serves. In Metro Atlanta, that includes supporting the Atlanta Community Food Bank, Junior Achievement of Georgia, Frontline Housing Inc., H.E.R.O. For Children and many others.

“Each time VyStar opens a new branch, it is another opportunity for us to support our purpose to Do Good. With eight full-service branches now in Georgia and our first Contact Center in Metro Atlanta, VyStar is able to provide residents and area businesses with exceptional financial products along with personalized service,” said VyStar SVP/Georgia Market President Janean Armstrong.

VyStar has seven additional locations in Georgia: Marietta, Smyrna, Suwanee, Stockbridge, Brunswick, Savannah and Thomasville, with plans to open branches in Pooler, Kingsland and Peachtree City over the next year.

The credit union is also expanding its services in Florida with a third branch in Tallahassee scheduled to open in May followed by a branch opening in the Lake Nona area in August.

To celebrate the grand opening, the community is invited to a ribbon cutting ceremony on May 29, 2024, at 10:30 a.m. Learn more about the Peachtree Corners branch.

Business

Kendra Scott Opens New Store At The Forum

Published

3 weeks ago

April 26, 2024

Peachtree Corners Magazine staff

Kendra Scott

Kendra Scott is celebrating the opening of its newest store in Peachtree Corners the weekend of May 10 at The Forum.

Upon opening, the 2,263 square foot store will display Kendra Scott’s current collections. The store will also showcase the brand’s unique Color Bar, offering shoppers an interactive experience to create customized jewelry in minutes and leave with it in hand.

Worn by celebrities including Hailey Bieber, Camila Cabello, Mindy Kaling, Zendaya and Kelly Clarkson, Kendra Scott’s collections are known for their custom-created stone shapes, genuine materials and design details.

This will be Kendra Scott’s first store in Gwinnett County, which joins five other retail locations in Georgia.

The brand will continue to show its support for the community through partnerships with non-profits and local businesses. For the grand opening weekend, Kendra Scott Peachtree Corners will host various non-profits for Kendra Gives Back events, donating a percentage of proceeds directly back to the causes.

Kendra Scott hosts more than 10,000 Kendra Gives Back events in retail stores annually and looks forward to establishing relationships and connecting with the Gwinnett County community.

“We’re excited to continue introducing the community to new brands, bites and events at The Forum as part of our vision to create downtown Peachtree Corners. Kendra Scott will be a welcome addition, providing our guests a top-notch experience to shop its unique offerings in person,” said Charlotte Hinton, The Forum marketing manager.

Doors will open on Friday, May 10, at 10 a.m. with celebrations throughout the weekend, including giveback events, gifts with purchase and giveaways. RSVP for more details here.

Upcoming events:

Friday, May 10 from 10-12 p.m. – Kendra Scott Peachtree Corners is partnering with The Forum for a VIP event. Supporters who spend $100 will receive a special jewelry gift with purchase.* Guests will also enjoy refreshments from Giulia, The Italian Bakery.
Friday, May 10 from 5-7 p.m. – Kendra Scott Peachtree Corners is partnering with the Norcross High School Cheer Team and donating 20% of proceeds. Supporters who spend $100 will receive a special gift with purchase* Guests can also receive a custom embroidered bow from Quiet Hours Embroidery with purchase.
Saturday, May 11 from 4-6 p.m. – Kendra Scott Peachtree Corners is partnering with Spectrum Autism Support Group and donating 20% of proceeds. Supporters who spend $100 will receive a special gift with purchase.* Guests will also enjoy complimentary cotton candy from Wonder Soirée with every purchase.
Sunday, May 12 from 12-2 p.m. – Kendra Scott Peachtree Corners is celebrating the Community of Motherhood. Supporters who spend $100 will receive a special gift with purchase.* Guests will also receive a complimentary Mother’s Day bouquet of flowers from Nancy’s Flower Truck.

*One per person while supplies last.

Kendra Scott Peachtree Corners is located at 5155 Peachtree Parkway, Suite 710 in Peachtree Corners at The Forum. For companywide updates and product details, follow @kendrascott on Facebook, Twitter, and Instagram.

Business

BRACK: Peachtree Corners to lose Peterbrooke Chocolatier

Published

4 weeks ago

April 19, 2024

Courtesy of Elliott Brack's Gwinnett Forum

Scottt Gottuso and Geoffrey Wilson. Photo provided.

Peachtree Corners will soon lose one of its most iconic, popular and tasty businesses.

Peterbrooke Chocolatier, run by Geoffrey Wilson and Scott Gottuso, has been told by Peachtree Forum landlords, North American Properties and Nuveen Real Estate, that its lease will not be renewed. The last day of business will be July 25.

Meanwhile, Peachtree Forum is getting several new stores. They include Kendra Scott, Sucre, and The NOW Massage. Previously announced were Alloy Personal Training, Cookie Fix, Gallery Anderson Smith, Giulia, Lovesac, Nando’s Peri-Peri and Stretchlab. Wilson adds: “We are not in their big picture.”

Wilson has operated Peterbrooke at the Peachtree Forum for 14 years and Gottuso has been there nine years. They have made the chocolatier profitable and doubled sales. Wilson says: “We turned it around through community involvement and made relationships. We worked with the schools, gave donations, did a lot in the community, and made a difference. We produce most everything we sell in the shop, so it’s labor intensive. We make European-style chocolate treats from scratch from the very best ingredients, package it, make gift baskets, and also sell a lot of gelato.”

Key items include truffles, hand-made caramels, cherry cordials, chocolate-covered cookies and pretzels and strawberries hand-dipped in their own blend of chocolates. (They are all good!) One of Wilson’s and Gottuso’s most iconic products is chocolate popcorn. Once you try it, regular popcorn is tasteless. “We sell a lot of it.” Wilson adds: “Gelato sales have carried us in the summertime, since there are not many chocolate holidays in the summer.”

Peterbrooke now has five employees, and would like to have 10, but it is difficult to hire people with the skills in chocolatiering. A key part of its business is corporate companies, such as Delta Air Lines and Capital Insight. The Peachtree Corners’ Peterbrooke has corporate customers as far away as Cleveland, Ohio.

The operators were surprised when the Forum owners did not renew its five year lease. “The big decisions were made in Charlotte or Cincinnati, not locally,” Wilson feels. “We were no longer in their big picture. They want new and glitzy, shiny, fancy and trendy.”

The operators plan to start their own chocolate company, to be called “Scoffrey,” and initially sell online, plus have pop-up locations during holidays, and possibly have a booth in other merchants’ stores on occasions.

“Whatever we do would look different. We might rent a space somewhere close by so that people can still have the good chocolate experience with us, but we won’t have a regular audience walking by.”

Another element: the price of chocolate futures has spiked this year, with a bad crop production year. Wilson says: “That is key to our business and a huge cost increase. That doesn’t help.”

Wilson adds that the forced closing of the Peterbrooke location “is something like the death of a friend. But you go to the funeral and to the wake, and in six months or a year, It won’t be so bad.”

Have a comment? Send to: elliott@elliottbrack

Written by Elliott Brack

This material is presented with permission from Elliott Brack’s GwinnettForum, an online site published Tuesdays and Fridays. To become better informed about Gwinnett, subscribe (at no cost) at GwinnettForum