Copyright 2019 by Business Forward Advisors
The payments industry is complex. Interchange fees are the largest component of your cost to accept credit card payments and are set by the payment card brands. These fees are the wholesale merchant account rates for the various types of credit card transactions. There are hundreds of interchange rates, which vary based on payment card brand, payment card type (credit, debit, specialty), merchant category code, amount of transaction being processed, and the amount of data being passed through as the payment is processed. The schedule of Interchange Fees are reissued in April and October of each year. We help you navigate the complexity and reduce payment processing expenses using our proven strategies to identify and correct areas of overspend on merchant services as well as provide transparency to merchant fees and statements. We work on your behalf provide ongoing analysis and monthly reports that ensure accurate billing and identify realized savings. And, you can stay with your existing merchant service provider. Creating simple, efficient, and economical merchant payment processing solutions through maximum transparency and measurable results.
There are three primary areas of opportunity to save money in copier / printer leases, regardless of expiration. Many of the techniques used within these areas require a deep knowledge of the copier industry and finesse in negotiations with the dealers. Our research shows that 97% of all leases have excessive costs and waste that erode profits and funds that could be put to better use. We have a proven track record renegotiating bad contracts and creating “found money” with savings often seen within less than 45 days. It all starts with a free snapshot analysis and lease review report card that we develop using advanced analytics to minimize time and eliminate guess-work. We use this framework to help businesses of all sizes find money in their vendor contracts and services. Let us do the work while you reap the rewards: eliminate spending waste, increase work efficiency and reducing paper document information risk.
Energy deregulation in the U.S. makes it possible to lower the cost of gas and electricity in many states from your supplier. Savings potential of up to 20% are possible through an easy enrollment process that has flexible terms, no switching fees and most importantly no interruption of service. There are no maintenance or hidden fees. Delivery and maintenance will continue to be the responsibility of your local public utility. Our reverse auction process lets you analyze past usage data to apply to guarantee you the best prices for your future gas and electric needs. This puts you in control allowing you to set your terms through a real-time competitive bidding process that is more effective than conventional paper-based bids. Benefits of our reverse auction model for your business is a 10-20% savings gain with pricing transparency.
Mistakes made by your parcel carriers are dollars lost from your bottom line. But the true mistake is in thinking those dollars are lost forever. With our proven parcel auditing and intelligence technology, we can offer you a no-risk, high reward opportunity to recover these dollars. We help audit and analyze your shipping processes to uncover opportunities to tap into your savings based on unfulfilled parcel company promises. And then we help prevent them from happening again. Through parcel auditing, intelligence, and engineering, we enable you to recover the money you’re owed and give you valuable data to streamline your shipping processes, engage in smarter parcel contract negotiations, and reduce shipping costs even more. Data-driven decisions save you money and assist in parcel contract negotiations. Our parcel auditing technology gives you the additional advantage of auditing shipping spend levels along with UPS benchmarking, FedEx benchmarking and parcel contract negotiations.
Waste disposal is necessary. Everyone needs it. And there are many companies who overcharge for this service. You could be losing thousands of dollars on your waste disposal bill and not even know it. Find out if you've been overcharged. We identify hidden overcharges and produce refunds, credits and cost reduction opportunities. With this service we can eliminate needless costs in your waste disposal bill by analyzing your services and applying our expertise and knowledge of the industry. You will receive a clear and concise disposal bill assessment. We know your waste outsourcing needs are unique and will deliver a thorough evaluation of your waste stream to create the best solution for your company. We also will contract the best companies for you along with partners for solid waste, medical waste and recycling to ensure that you are receiving the best price from those vendors and we will handle the entire contract process for you from start to finish. Most property managers and owners lack the time and expertise required to effectively audit these accounts, nor do they realize overcharges exist.
While telecommunications and cell phone spend represents a relatively small spend level, it is important to only pay for the service levels you need. Carrier representatives are incented to grow their revenue and don’t always provide you with the most cost effective solutions. We specialize in lowering your phone bills based on your assessing your usage pattern, applying our industry insights to save you typically between 25-33% on your phone services on an ongoing basis. Our experts have held positions with major wireless carriers working on pricing strategies. We understand and apply our industry knowledge to save you time by assessing your most recent phone bills and presenting a recommendation for the optimum plan to adopt for each phone and how much the changes will save your company. It also includes a detailed letter explaining the strategy. After you review the recommendation, one of our auditors will have a brief discussion with you and then we will implement the changes on your behalf. Best of all we will continue to monitor your bills each month to update you on usage, new plan options and potential savings opportunities.
Workers’ compensation insurance is a major business expense. It is also incredibly complex. In most states there are over 700 approved classification codes with interpretation of classifications varying from state to state. It is virtually impossible for a business to know all the rules and regulations governing these codes which often results in overcharges. In our experience, 7 out of 10 companies have overpaid on their policies and may still be overpaying today. This is true regardless of the agent, broker, agency, and/or insurance carriers involved. Constant changes in the industry including rating bureau rules, regulation changes, policy changes and the application of incorrect rates, discounts, classifications, experience modification calculations, erroneous payroll and audits are beyond a typical agent's scope. Most business owners aren’t aware they have been overcharged until an independent review is conducted. What is generally not known is that overpayments can be recovered from previously issued policies. And, unlike others that only audit your current policy, we go back as far as seven years to recoup the greatest possible refund.
Employee health benefits ranks as the 2nd largest expense for the average employer, second only to payroll, and the rising cost of employee health benefits is the number one issue, or problem employers are facing today. We have a healthcare billing problem in the United States. The price for medical services and the price of prescription drugs, depends on how much can be extracted from you, or from your health plan, and you have no idea how much the bill is going to be until after services are rendered. We focus on controlling 4 primary cost drivers which make up 90% of the cost of a health plan: hospitalization & surgery, outpatient services, including diagnostic labs & imaging, emergency services, prescription drugs, and physician services. We help organizations to reduce the cost of their employees’ health benefits by 12 to 25%, and sometimes more, while also reducing out of pocket costs, and increasing their quality of care without necessarily changing their broker or health plan provider.