Frequently Asked Questions

Yes.

 

When you become our client, there are only 2 possible outcomes.

 

1 - We discover that your billing is accurate and you have no opportunities to reduce costs.  You profit by knowing that your costs are accurate and efficient and it's cost you $0 to discover that.

 

2 - We present you with savings opportunities based on our audit.  We are not paid unless you agree to implement those findings and then only after you receive new invoices from your vendor(s) demonstrating the lower costs we've negotiated for you. At that point we invoice you for a share of those savings creating a win/win situation that guarantees an improvement to your bottom line.

You will provide a copy of your invoices and a letter of agency for each account which authorizes us to correspond with your service providers and to access your customer service records. We will use these documents to verify the accuracy of the invoices.

 

Our audit work is done off site and requires almost no time at all from you or your operations staff.

 

We will ask for a point of contact within your organization which is qualified to answer any questions which may arise during the audit process.

 

Our goal is to make the process as simple and unobtrusive as possible.

Almost 95% of our audits identify errors and/or overcharges.

 

These invoices are written in confusing, industry language. Our expert auditors know how to interpret these complex invoices and how utility tariffs apply to your business.  Additionally, this is what we do every day and in almost every case our clients don't have the time, staff availability, or expertise to review these costs on a monthly basis.

 

The errors are insidious in nature in that even if the amount is small, it will likely continue for years to come.

 

The real question to ask is "Why are these expenses not elevated to the same level of importance as your other operating costs?"

No.

 

Unfortunately some auditing consultants have agreements with vendors and attempt to steer their clients that way for their own self interest.

 

Our loyalty is always to our client and while me may, on occasion, make them aware that switching vendors could save them money, we are never paid by any service provider.  Our focus is exclusively on correcting errors, and obtaining the best possible cost structures for our clients.

Billing Errors:  This includes things like keypunch errors, meter reading, demand based errors, incorrect rate applications, taxes (electric/gas can be tax exempt depending on use), incorrect implementation of contracts.

 

Removal of charges: Anything on the bill that can be gotten rid of. Redundant, not used, minimum charges, make-up charges, reduction/removal of taxes, reduction or removal of “Demand Ratchets”.

 

Opportunity for Rate Improvement:  Our team has been doing this since 1991 and are familiar with all of the current trends and costs within these industries. That expertise and the familiar relationships that have been developed with these vendors over those many years gives you a powerful advocate to negotiate and implement best-in-class pricing for you.

Electric
Natural Gas
Waste
Water/Sewer
Local, Long Distance & Wireless Telephone
Data Lines
Internet

Frankly, we have no way of knowing. The results can range from 0% to 40% or more.

 

Keep in mind that about 20% of the time we verify that certain billings are correct and cost efficient. This is the best news we can bring to you.

 

Our mission is to verify the accuracy of utility, waste, and telecom invoices as we serve the same function as your outside financial firm who verifies the accuracy of your financial statements.

Of course as we see it, and as those who have utilized this service will attest, there is no downside.

 

We partner with our clients where our interests are completely aligned with theirs, we do the work, and we take the financial risk.

'Go Green' - utilizing Cost Oversight's expertise we can often help organizations dramatically increase their recycling, all while reducing costs.

Have different questions?

We're happy to answer them!