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Mooresville, NC – Jeff Lavoie of Lost & Found Inc., a corporate savings agency was the keynote speaker at the December MSIEDC meeting that took place Monday December 6th at the Charles Mack Citizen’s Center in downtown Mooresville. Lavoie addressed the need in these uncertain economic times, for business owners to take a hard look at their bottom line. Lost & Found, Inc has recovered more than $500,000 in overcharges for local companies.
“Corporations lose millions of dollars every year due to overcharges, misclassifications, and procedural errors. We feel that every company should have an independent review completed annually to identify areas they may be unknowing overcharged” says Lavoie.
Lavoie explained to the audience that Lost and Found Inc. has assembled a team of the nation’s leading experts whose mission is to recover past overcharges and identify future savings opportunities for businesses. Lavoie stated that they find overcharges over 80% of the time. They recover “lost” revenue in the following areas on a contingency fee basis:
- Worker’s Compensation Premiums
- Cost Segregation Studies and Energy Tax Credits
- Property Tax Valuation & Reduction Services
- Telecom Services
- Waste Management Services
- Merchant Processing Accounts
Firm Goal: Recover Lost Cash Premium content from Charlotte Business Journal - by Adam O’Daniel
Date: Thursday, November 4, 2010, 12:00pm EDT
You could call Joe Wiseman a business-expense investigator.
He and business partner Jeff Lavoie run a Mooresville company that investigates its clients’ expenses and helps them recover cash when they overpay. The company, Lost & Found Inc., has grown rapidly since its inception in 2008, and Wiseman is expanding into new markets.
What inspired the idea for Lost & Found?
As experienced business owners, we were always concerned that we were overpaying on certain expenses, but we never had the time or administrative resources to investigate. We were aware of high-priced consultants that wanted to come in and charge an outrageous hourly fee, with no certainty of success. We wanted to create a nationwide company that is built on a performance model where we are compensated only when we are successful producing quantitative results for our clients. It just made sense.
How did you and Lavoie connect?
Jeff and I have both been active residents of Mooresville for many years and spent many nights on the sports fields together watching our children and discussing our business philosophies and expertise. When the recession hit in 2008, both Jeff and I knew there was a bigger need than ever for companies to trim the fat.
How does your service work?
Our expense audits are designed to identify and recover any past overcharges and reduce the expense moving forward. All reviews are performed off site and with a guarantee that there will be less than two hours invested from the company’s staff.
With our contingency-based fee model, it eliminates any risk to the company.
Are you expanding?
The success of our service has allowed us to expand into other markets. We currently have seven expense analysts servicing clients in 13 states, and the list is growing quickly.
- Joe Wiserman sold a mortgage company he had owned to start Lost & Found.
- His partner, Jeff Lavoie, has a background in sales and marketing in the manufacturing industry.
- In 2010, the company says it has recovered $500,000 in overcharges for its local clients.