What happens if Resources for Profit does the work but can't identify any savings?
It is very rare that we will be unable to identify an area of cost saving for you, however should this be the case, we will provide you with a detailed report at no cost to you. No benefit - no fee!
Isn't this something we could do ourselves?
Of course you can, but we find that most organisations are unaware of the common loopholes that can affect their business. We guarantee you the elements to an optimum procurement process:
- A strong procurement process
- Detailed knowledge and understanding of the requirement
- Expert knowledge of the supplier market
Most organisations employ internal procurement teams that have these elements in place for each of these core product and services offerings. Many however forget about applying these same principles to the ancillary products and services required to run the business.
Resources for Profit provide product and service category experts who possess superior market knowledge, allowing them to have a solid understanding of the services on offer. We understand that many businesses do not have the resources to dedicate to these type of audits. Let us do the work for you.
What is your relationship with potential vendors?
Our existing relationships are based only on our knowledge of a supplier’s ability to provide a specific service over time.
Resources for Profit is not a broker and accepts no secret commissions or inducements of any kind. We are however able to secure contract terms that will prove more favourable to your business than what you would be able to secure directly, given our past experiences with particular companies in the past and the possibility of working in partnership in the future.
Do I have to accept the lowest offer?
We will detail a number of different quotations in the Resources for Profit Opportunity Report which will allow you to choose the supplier you would like to work with. We will supply a number of alternative scenarios, each of which we would happily recommend you implement, the choice is then yours.
What other services do you supply?
Resources for Profit cover two distinctly separate services:
Cost Management
We conduct an extensive review of your current use and pricing of a wide range of common overhead categories such as: couriers, freight, document storage, office products, reprographics, telecommunications, merchant card fees, travel, accommodation, energy and office cleaning.
We will then provide you with a detailed analysis of your usage profile and provide options for more cost effective solutions. We then implement the selected option(s) and audit supplier service performance and pricing for an agreed period, usually 18 months. The objective is to generate extra sustainable profit for you. Your allocation of resources is minimal. Historically on average we will generate a 20% to 25% saving on each category. As a rule of thumb each extra dollar Resources for Profit puts on your bottom line would normally require $10.00 of revenue.
Accounts Payable Recovery Audit
This is generally a service we would provide to larger organisations (defined by their revenue base and whether this is in excess of $200 million per annum). We review historical transactions, aiming to identify and recover incorrect invoicing and payments to and from your existing suppliers.
We will invoice you for the service only once the refund is received. Should we be unsuccessful in the recovery of any incorrect payment, there will be no charge for this service.
During this audit we focus on duplicates, wrong payments, GST input credit errors, errors in contract pricing, rebate errors, and settlement discount errors. We also tidy up your supplier list and give your accounts payable systems a "health check". We give you regular reports on our progress and practical suggestions on how errors can be minimised in the future. All we need from you is an electronic download of historical accounts payable transactions and we do the rest.
