Case Study Expense Audit Review
Spotlight on success—see how our consultants helped a business reduce expenses.
Case Study: Expense Audit Review
Reconnecting the dots.
While businesses regularly review reveneu and expenses, sometimes things remain hidden. Expenses which span departments or which may fit in multiple categorgies can be missed or misunderstood. When a business quickly grew profitability grew too. Soon everyone was so focused on the top line, expenses began to balloon. Then the business hit a bump in the road and profitability started to slump. They knew they had to act, but with all of the new changes in place, they didn’t know where to start.
That’s when we stepped in to help.
We conducted a detailed review of expenses. We looked at how the business procured items through their procurement function, we analysis expenses by expense category and we reviewed accounts payable files and finally even vender contracts.
The results? Within two weeks we had identified over $1 million in cost savings opportunities. Within eight weeks the business started implementing recommendations. Within 12 weeks we had identified potential savings of over $10 million. The business implemented well over $1 million of opportunities and today continue to expand upon those opportunities.
Better profits and a clearer picture—that’s what we call clarity.