How much time will be required of my staff?
Very little. At Expense Consulting, we gather all required information from your AP department; for your convenience, we can come on-site to photocopy required invoices. We operate as independently as possible, working within the parameters you establish. A letter of authorization on your letterhead will allow us to work directly with your vendors on your behalf. On average, for every hour spent with Expense Consulting, our clients realize $20,135 in annual savings.
What does it cost to engage Expense Consulting?
Nothing. Expense Consulting does not charge any upfront fees. We simply earn a percentage of the savings we find. In the unlikely event we don't find savings, you would not be billed.
What happens if you review our invoices and don't find any savings?
Expense Consulting has found savings for EVERY client and for 89% of spend-categories analyzed. If we find you are obtaining the most competitive pricing and no credits are due, you can rest assured knowing the experts at Expense Consulting have reviewed your payables and that you are getting the biggest bang for your buck.
What if we don’t want to share confidential information?
Most projects don’t require sharing of confidential information; invoices often times are sufficient. To conduct an audit for contract compliance, we will need agreements as well. Nonetheless, our engagement agreement includes confidentiality and non-disclosure sections. For healthcare clients, BAAs are always executed.
How long from time of engagement to realization of savings?
In most cases, you should expect to begin realizing savings within four to six weeks of our engagement. More complex projects may take longer.
Does it matter where my company is located?
No. Expense Consulting currently works with companies in 43 states.
I have a Procurement Manager, Purchasing Department, Accounts Payable, etc... Do I need Expense Consulting?
When your procurement team works on a project, they represent one company. Expense Consulting reviews and negotiates thousands of invoices and contracts annually, allowing us to benchmark your pricing. While your team may work on a particular spend category periodically, we have most likely worked on that same category dozens of times in the last year. We possess a proprietary database with hundreds of thousands of SKUs and services with historical pricing from thousands of clients. In addition, we access unpublished discount schedules and we know how your vendors operate.
How do you ensure that we are realizing the savings?
We conduct audits periodically to ensure the vendors are adhering to the new pricing schedules and contract terms.
