Aaron Reineck from the Era Group discussed cost reduction strategies to increase profitability. He highlighted the importance of identifying indirect overspending, especially in growth phases, and shared a case study of a four-facility hospital group with $3.2 million in actionable, indirect spend. The Era Group's no-savings, no-fee model focuses on logistics, banking, corporate services, medical services, facility management, telecom, technology, and operational supplies. They achieved an average 19.7% cost reduction. Reineck emphasized the need for businesses to be open to external support and the benefits of cost reduction in M&A scenarios.