How much does it cost?
There are no upfront fees or hourly charges for our reviews. We are 100% contingency fee-based. We receive our fees from a portion of the savings that we generate.
What if we decide not to implement one of your recommendations, will we still be billed for the finding?
No, we receive our compensation from realized and quantified savings. If you decide not to implement one of our findings it will not produce any realized savings so there will be no charge.
How much of my staff’s time will this take up?
Most of our clients have less than one hour of time invested in our audits. The majority of time is spent in the initial conference call and them supplying the needed invoices for review. Once the review begins our auditors do all of the heavy lifting.
How much paperwork do we need to gather?
Minimal, for the majority of our reviews we only need the last few months invoices as well as any current vendor agreements.
Do we need to change our current provider, vendor, carrier, processor, bank?
We are not change brokers and very rarely will we recommend switching current vendors. We understand that most companies are very loyal to their current vendors and we appreciate that.
Will you need to visit our locations?
Very rarely, majority of our reviews are performed at our offices and all findings are presented via conference calls.
Why should we hire an outside firm to conduct a service we already perform with our new internal review process?
The majority of our clients have an excellent AP department that reviews invoices as well as an internal audit process. The Lost & Found advantage is that our audit teams have decades of experience in their specific cost categories while utilizing insider knowledge of best-in-class pricing and terms through years of extensive data mining.