by Gene Waltz, Executive Vice President, Edge Insights
The benefits of a professional audit can include helping a business expose errors, minimizing costs, improving the bottom line with long-term savings, and saving time traditionally taken up combing through bills. But, even with these benefits, businesses often don’t see the immediate value of an audit, and they fail to implement one. This bypass of a crucial component in a business’s long-term savings plan can have a negative ripple effect. So, why don’t more businesses do audits?
Discover the biggest misconceptions about audits below to see where businesses are doing themselves a disservice.
Biggest Misconceptions About Auditing
- You don’t know what you don’t know. Many business decision-makers may think they have their costs under control, but the reality is they might be missing something. That something could be costing them a lot of money without their knowledge. Businesses that approach their expenses with this mentality often don’t appreciate what audits can bring to the table and find themselves missing out on an opportunity to increase their bottom line.
- While some businesses think they don’t need an audit to uncover great savings, others might think it’s too good to be true. The skepticism can be found in their inability to believe that telecom, energy, and waste services can be affordable.The truth is, with the help and guidance of a professional, you can discover a transparent way to save.
- And lastly, a common misconception is related to time. While businesses may be interested in an audit, they may be misled by the idea that it’ll take time and effort they don’t have. In addition to that, the idea of a costly audit can also put them off, but the truth is that auditing services can be a cost-free solution that will benefit them in the long run.
Benefits of Receiving Expert Help
Auditing services have been designed with the customer in mind. In fact, they look at your organization’s needs and requirements, they benchmark your current services, and they identify options for improvements. They then identify potential solution providers, solicit and analyze proposals, and present results to your decision makers. Does your staff have the time and expertise to do all that? Receiving professional help means you’ll get the guidance and resources you need to make the best possible decision.
Getting an expert to perform audits will save you from the tedious work of having to manage all your bills and expenses. While you may think some service costs are fixed, you might actually be able to save 15-20%! Audit experts understand that you don’t always have the time or the expertise to understand all of your options, and as a result, they work towards finding you the solutions and the best pricing you need to reach your goals.
Here are three ways they can help you save time and money:
- Telecom Services: Manages service implementations and ongoing billing and helps with research related to providers, pricing, and service options.
- Energy Services: Ensures you never pay more than you should by auditing invoices, reviewing supplier contracts, and purchasing only from reliable energy service providers.
- Waste Management: Can reduce costs up to 60% and help businesses get rid of material they no longer want while paying as little as possible.
Is Your Business Ready for a Professional Audit?
At Edge Insights, we’re dedicated to helping businesses understand the value of audits and are committed to helping customers cut costs, increase their bottom lines, and find the solutions they need at the right price. If you’re ready to start saving, contact Edge Insights. We have your best interests at heart.