At what point does that fish get big enough to fry? I was on a call with a potential point of contact when he told me “I have bigger fish to fry, this is the CFO’s project” The fish was a $240,000 yearly expense. We had been asked to do a quick audit to see if there would be enough savings generated to make it worth both of our time. That rough audit showed a minimum savings of 10% without doing any deep work. I told the CFO that the 10% was low and that was without the usual work we put into an audit. They should expect to save 2 to 3 times that number.
The audit generated $5,680 per month in savings, a yearly savings of $68,160. This new found profit was added to their bottom line after a total of 50 minutes of conference calls.
Which brings me to my point, at what people do your people feel that it is worth their time to look more closely at their department’s expenses? Are they looking to improve, or are they afraid of an outside company finding things for them? The results of the audit wasn’t for lack of care it is simply not an area of expertise and an inability to implement changes in a timely manner.