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Historic Audits

Historic Audits. Historic Profit Recovery. “Traditional solutions simply can not provide the analytical agility or forensic detail delivered by our experienced partner teams, which allows us to identify more errors, share more knowledge and recover more monies for our clients”.

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Historic Audits

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  1. Historic Audits

  2. Historic Profit Recovery “Traditional solutions simply can not provide the analytical agility or forensic detail delivered by our experienced partner teams, which allows us to identify more errors, share more knowledge and recover more monies for our clients”

  3. One belief in mind Businesses should not pay for services they do not receive or costs they are not liable for.

  4. Rebates and Savings from: Your Client Data Plus Our Intelligence

  5. Cost Recovery Helping companies improve their cash flow and increase margins. We deliver tailored programs of work to recover overpayments and reduce operating costs across: • Utilities – Electricity, Gas and Water • Telecommunications – Landline and Mobiles • Accounts Payable Our process will not affect any of your client’s current suppliers

  6. What we find • Significant overcharges are now commonplace. The inherent complexity of the utilities market place, coupled with basic manual errors and over-reliance upon systems and software contributes to utility company’s mistakes and inefficiencies. • In our experience, more than 90% of organisations have incurred billing errors and charging errors that can result in significant overpayments. • Businesses have witnessed enormous changes in the Electricity & Gas Markets over the last 10 years. Most noticeably we have seen the demise of the ‘local’ supplier, resulting in the splitting of Distribution and Supply Companies into separate markets and ownership. • This means the majority of energy supply contracts contain chargeable elements that your energy supplier is collecting on behalf of the supply chain. With no financial benefit to the supplier, there is little incentive to verify the accuracy of these additional costs.

  7. What our Partners can do for you? • Over the years, pricing structures and packages established by suppliers have changed - sometimes dramatically - but more often inconspicuously. Consolidation of suppliers has also meant key data and knowledge has been lost. • A proprietary databases of utilities pricing history covering the past 16 years enables our team research and verify overcharges over considerable time periods. With over 500 ‘claim-types’ identified and proven, we are well positioned to maximize your clients potential rebates and savings. • We can identify these discrepancies quickly which allows us to pursue refund opportunities tracking back up to six years ago.

  8. So what is the outcome? • A proliferation of charging errors and inaccurate pass-through costs. Costs that businesses are paying! In our experience, ALL electricity suppliers are now raising some invoices incorrectly • Rebates and savings have ranged from 1% to 28% of annual spend (each year, for 6 years). • A typical audit will take between 8 –16 weeks depending on the case complexity. • Over the years, our strategic partners have added £millions of pounds of value to their client’s bottom line, with the largest single refund being in excess of £5 million.

  9. What to look for Spend Levels - Our rule of thumb: • Utilities Gas - £100,000 Electricity - £250,000 Water - £50,000 • Telecommunications Landlines - £500,000 Mobiles - £300,000 • Accounts Payable T/O - £50,000,000

  10. The Process   You will find that this service complements your current process. • On the majority of appoints you will obtain knowledge of the potential clients spend levels for Electricity, Gas and Telecoms. We recommend that the Historic Forensic Audit is positioned at the appropriate time. This can vary depending on the focus of the IAP. • Once the rebate and savings opportunity has been established, a meeting is arranged to position the opportunities for the Forensic Audit. • Marketing literature is provided by MAID. • A Scope of Work is outlined and a commitment to proceed is gained from the client. • Remaining documentation required to start the audit.

  11. Initial Paperwork The majority of the following information is obtained at your client meeting. • Customers confirmation of annual spends • Copy of the last 3 months full billing statements • List of sites with full address (including closed or amalgamated sites) • List of ALL meters for each site location • A note of contract end dates for each meter • Letter of Authority - Historic Only (on company headed paper) We will be in a position to confirm that we are happy to proceed once we are able to review this initial data.

  12. Letter of Authority - Example Date To: Example Gas/Electricity Dear Sirs This is to confirm that Strategic Partner (S/P) have the authority outside of our company to deal directly with our gas/electricity suppliers and distributors. S/P are entitled to carry out negotiations on our behalf relating to historical overcharges and are to be provided with information on our accounts, provided that any documents binding on us are submitted to us for final approval and signature. Yours faithfully

  13. Critical to Audit Standard • Provide 6 Years of Billing Data • Associated Contracts • Service Level Agreements • Key Internal Staff List • Online Access & Passwords Energy Additions • Supplier History (if known) Submit all documentation to MAID by fax 0845 269 0608 or email info@maidforbusiness.co.uk.

  14. Critical to Audit Telecoms Additions • BT Acc Manager • Mobile Supplier • 3rd Party Suppliers • LOA’s Account Payable Additions • Invoice Volumes • Supplier Volumes • Archived Invoices Submit all documentation to MAID by fax 0845 269 0608 or email info@maidforbusiness.co.uk.

  15. Our client lists Include 55% of the FTSE top 100, hundreds of SME’s and many central and local government bodies. Our partners are proud of the relationships they build with their clients and work hard to continuously add more value.

  16. Cost • We offers our clients the ability to take advantage of our expertise on a risk-free basis. • We get rewarded on the results we deliver to the client • Paid on a contingent fee basis • We share the Rebates and Saving on a 50/50 with the client

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