Posted by: Jessica Reda | April 20, 2010

Why an External Audit?

What do all of the following case study summaries have in common?  Initially, each case study client told us,  “we do this internally”.

  • We reduced a client’s annual Property Tax bills by over $400k and recovered over $35k in billing mistakes.
  • We reduced another client’s annual Telecom spend by over $600k and recovered over $150k in credits due to billing errors.
  • We saved a client over 60% on their Teleconferencing.
  • We reduced another client’s Cellular expenses by almost 50% and consolidated 27 invoices into 2.
  • We helped another client renegotiate their contracts early due to billing mistakes, saving them in excess of $200k annually.

 

The list goes on and on: a 14% reduction in Electricity costs, a 34% reduction in 401k plan administration costs, over $100,000 recovered during an Accounts Payable audit, etc., etc.

All to clients who ALMOST did not have us come in to help them because they felt that they had these expense areas under control internally.

The single biggest mistake we see is companies allowing their belief in their internal processes to interfere with profit enhancement opportunities.

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