BCC Compliance Service Overview[2]

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    BCC Compliance Service Overview[2] - Presentation Transcript

    1. BC COMPLIANCE GROUP, LLC EXPENSE RECOVERY & REDUCTION SERVICES BC Compliance Group, LLC’s (BCC) team of professionals specialize in providing independent third-party expense recovery and reduction services. We work with our clients in controlling some of their largest expense categories which bring about greater cost control, earnings enhancement and shareholder value. BCC’s process ensures a higher level of claim accuracy through an extensive in-house due-diligence and client approval process. Our services are performed on a non-intrusive basis, which allows our clients to remain deeply involved in our work without interfering with their day-to-day operations and responsibilities. Our process, along with our benefit share compensation model, gives our clients the ability to receive refunds on past overcharges and benefit from reductions in future spend –- this all without incurring any fees until they have realized the financial benefits that our work brings to their bottom line. IN-HOUSE CORE COMPETENCIES Contract Compliance  Benchmark cost savings of 3% -10% of expenses reviewed  Comprehensive non-intrusive review and analysis of approved expense categories  Hard dollar recovery of expense overpayments & revenue underpayments  Removal of inaccurate charges from future billings  Effective well-documented cost reduction recommendations  Recommendations for improved contract terms & conditions Commercial Lease / Real Estate Accounting  Benchmark cost savings of 3% -10% of expenses reviewed  Comprehensive non-intrusive review and analysis of approved leases  Hard dollar refunds or rent/additional rent credits for past errors  Removal of inaccurate charges from future billings  Areas for review to include but not limited to: rent, gross-up & escalation calculations, base year reviews, benchmarking, CAPEX v. OPEX, real estate tax issues, etc.  Recommendations for improved lease term & conditions Sales & Use Tax  Benchmark cost savings of 5% - 8% of expenses reviewed  Hard dollar recovery of state & local tax overpayments  Identification of exemptions and removal of extraneous taxes from future billing  Identification of improvements to processes and controls Unclaimed Property (i.e., Escheat, Abandoned Property)  Identify and categorize areas of exposure  Establish proper dormancy periods and quantify unclaimed property exposure  Assist in establishing and implementing internal compliance & reporting procedures  If available, assist with or handle voluntary disclosure  Research & recover unclaimed property owed to clients Accounts Payable  Benchmark cost savings of 0.1%-1% of total disbursements  Non-intrusive engagement identifies and recovers past erroneous payments  Reduction of future erroneous payments & operating expenses  Escheatment reduction, vendor management, and process improvement services BC Compliance Group, LLC 1070 Highway 34, Suite Q, Matawan, New Jersey 07747 www.bccompgroup.com Page 1 of 3
    2. BC COMPLIANCE GROUP, LLC EXPENSE RECOVERY & REDUCTION SERVICES Throughout the years our clients have regularly turned to BCC for advice and guidance in finding professionals to perform services outside of our in-house core competencies. The following services are offered to our clients through the strategic partner relationships we have secured over the years. Each of our Strategic Partners brings to our clients the same level of service and expertise they receive and demand from BCC. STRATEGIC PARTNER SERVICES NSF Check Recovery / RCK  Reduce NSF check costs (i.e., NO: additional redeposit or NSF fees; transaction costs or check guarantee fees; equipment or training requirements; additional staffing requirements – in fact staff time availability increased)  Reduce bad debt by increasing collection rates (both time to collect and percentage collected (i.e., additional electronic collection opportunity)  No collection cost to client. Client is paid the full face value of NSF item. By Law, our state mandated fee is charged to the writer of the NSF item after successfully collecting the NSF item.  Detailed online reporting system. Available in real-time 24/7  Seamless implementation with little cost (i.e., customer notification requirements) Telecommunications  Benchmark cost savings of 3% -12% of expenses reviewed  Invoice audits, network optimization and assessment, and inventory management  Manage all telecom services including voice, data, private lines, wireless, market data, and equipment leases  Correction of billing errors generates hard dollar cash refunds and future savings  In-depth review results in recommendations to include but not limited to the disconnection of unused, duplicate and non-working services  Intangible benefits include accurate inventory reports, improved quality control and increased efficiency of telecom spend Freight  2%-30% savings on domestic freight expenditures (audit & contract optimization)  5%-30% savings on international freight expenditures (audit & contract optimization)  Comprehensive review of freight rates, tariffs, and other carrier charges  Recovery of past erroneous payments and reduced rates going forward  Comprehensive web-based transportation spend reporting application  Logistics consulting Research & Development and Other Tax Credit Studies  Maximize research credits for both Federal and state tax purposes  Provide detailed documentation for IRS/state tax audit purposes to support credits calculated  Assist client in recording research credit provision amounts  Develop client specific processes and procedures to ensure maximization of future credit opportunities. BC Compliance Group, LLC 1070 Highway 34, Suite Q, Matawan, New Jersey 07747 www.bccompgroup.com Page 2 of 3
    3. BC COMPLIANCE GROUP, LLC EXPENSE RECOVERY & REDUCTION SERVICES STRATEGIC PARTNER SERVICES (Cont.) Property Tax  Benchmark cost savings of 10%-20% of expenses reviewed  Comprehensive review of assessments, asset schedules and tax returns  Reduction in assessed property values  Improved accuracy of tax rates & remittance amounts Procurement  Benchmark cost savings of 5%-30% of expenses reviewed  Non-intrusive strategic sourcing services in over 35 high-impact categories  Reduced acquisition cost of materials, supplies and services while maintaining vendor quality standards Utilities  Benchmark cost savings of 3%-7% of expenses reviewed  Comprehensive review of utilities expenditures  Recovery of past erroneous payments and reduced rates going forward  Identification/confirmation of most cost-effective utility services for the organization BC Compliance Group, LLC 1070 Highway 34, Suite Q, Matawan, New Jersey 07747 www.bccompgroup.com Page 3 of 3
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