We are paid on a contingency basis, which means that if we find nothing, we are paid nothing. We know that this will occur in about 20% of our audits. This is a financial risk which we assume, as our auditors must be paid for their work, regardless of whether or not we have earned a fee. We have designed our compensation and fee structure so that, on the average, it is fair to our clients and fair to us.
Why do we need a utility, telecom, and waste audit?
Since 2015, 88% 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. The errors are insidious in nature in that even if the amount is small, it will likely continue for years to come.
How much can we expect you to find?
Frankly, we have no way of knowing. The results typically range from 0% to 10% or more. Keep in mind that about 20% of the time we verify that your 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.
What is our involvement?
You will provide a copy of your invoices and a letter of
agency 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, in our offices and does not involve your people; 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.
What is the downside?
Of course as we see it, and as our many clients 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.
Can you help us with recycling?
'Go Green' - utilizing Cost Oversight's expertise we can often help organizations dramatically increase their recycling, all while reducing costs.