Contingency-Based Audit Services

by | Apr 15, 2016 | Blog Post

Want to save up to 50% on utility bills without spending a penny?

Edge Insights has provided valuable services to us. They assessed our current utility vendors, negotiated significant contracts and helped us to realize considerable savings. Most importantly, we have a comfort level with Edge Insights and appreciate their friendly style in working with us.”

-Dave Fralick, Executive, Facility Management

Diakon Lutheran Social Ministries

Many companies today face financial challenges every day, as they try to maintain a healthy bottom line. In this environment, managing basic operational costs is critical, but often does not get the required attention it needs in order to be completely cost effective. If the bill is similar to last month and within budget, it often just gets paid.  However, a closer look can reveal significant savings with no impact on the services delivered. Contingency-based audit services are hired to do just that. Their value is demonstrated in the following ways:

  • They are able to review and monitor cost components of a P&L statement to ensure the client is getting exactly what they should be getting and for the lowest price possible.
  • There is no out of pocket cost or risk in regard to the client’s involvement.
  • The changes can be completely transparent to the daily operations.
  • Cost management firms check the market to ensure the client is getting the most cost-effective vendor.
  • The relationship built through using a cost management firm will benefit the client moving forward in that their bills will be routinely monitored and if there is an issue, the cost management firm will handle it.
  • The client does not need to pay for the service until the savings have been implemented, so there is no financial risk.
  • The time it takes the client is very minimal, as most of the work is done behind the scenes once the cost management company has received bills and contracts from the client.
  • Cost management services have no impact on previously approved budgets and are always cash flow positive.

The bottom line is that lowering expenses will result in higher profits. Time is of the essence in today’s business world. Your team should be focused on your business, not diving into basic operational costs. Contingency-based audit services can provide a great return with no investment and no risk.