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Payables Review
1.
Payables Review for
Example Corp, Inc. From Payables Review conducted October 18, 2014 by Expense To Profit. Summary 2013 Expenses: $22.0M Payroll / Benefits $11.0M COGS $2.2M Indirect $8.8M 50% 10% 40% Outside Scope Indirect: $8.8M Within Scope of Spend Review Savings Targets are estimated and for prioritization and planning purposes; actual savings may be greater or less than the target ranges. Categories and Next Steps Rent Professional Services Marketing & Sales Actual Spend 12 mo. ($M) Software/Comm Admin/Other Forecast 2-year ($M) 2.64 4.93 6.60 3.17 1.76 Savings Target % 0% 3% 10% 15% 8% Savings Target $ $0 $147,840 $660,000 $475,200 $140,800 Total Target Savings: $1,423,480 Specific Category Detail Below 1.32 3.08 2.20 1.32 0.88 ~ ~ ~ ~ Category Current Vendors 1. Marketing ITPrintingPros 2. IT Contract Labor IT System Team 3. RecordsManagement Shredex, Iron Mountain 4. Training Training Solutions 5. NetworkAdministration XYZ Networks Spend Past 12 months $550,000 $800,000 $230,000 $35,000 $225,000 Illustration Forecast Spend next 24 months $1,200,000 $1,900,000 $460,000 $140,000 $450,000 Expected Savings Range Low /High Low /High 15% 30% 5% 10% 10% 25% 25% 40% 10% 15% $180,000 $360,000 $95,000 $190,000 $46,000 $115,000 $95,000 $190,000 $45,000 $67,500 Next Steps - Conduct RFP for next three years - Consolidate volume for RFP - Use lower labor categories by shifting PM responsibility to internal resource - Move to single vendor - Implement contract - Request quote from 3 vendors - Utilize on-line modules - Reduce Service levels - 3-year agreement pricing Time to Savings 3 months 3 months 6 months 6 months 2 months Expense To Profit has expertise in expense management and will lead a diagnostic conversation to identify savings opportunities and next steps. The review is currently offered at no cost. Participating companies are under no obligation to act on recommendations or employ us. 12.MarketingConsulting XYZ MARKETING 13.Office Supplies Office Depot, Staples 14.Telecom – Wireless Verizon, AT&T 15.Outbound Call Center B2B Marketing $240,000 $82,000 $40,000 $100,000 To conduct a Payables Review: 1. Schedule with Marc Freedman marc@expensetoprofit.com 2. Print hard-copy list of a twelve month payments summary by GL category then by vendor for meeting 3. Allow for 45 minutes - attendees should include CEO or CFO $300,000 $205,000 $80,000 $150,000 5% 10% 5% 12% 10% 20% 0% 10% $15,000 $30,000 $10,250 $24,600 $8,000 $16,000 $0 $15,000 - Reduce support; shift to internal - Join group agreement - Review bills for all employees - Optimize service plans - Audit invoices from 2B - Validate billing to agreed metrics 1 month 1 month 6 months 2 months © 2014 Expense To info@expensetoprofit.com Profit, LLC, All rights reserved.
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