Worker’s Compensation Premium Recovery
Over 70% of companies are overpaying their workers’ compensation insurance premiums. Our review is provided on a contingency fee basis so if we can’t find savings there is no cost to the client. We go back 5-7 years and look for overpayments. We do not sell P & C we go in the past and recover overpaid workers comp premiums. It’s a win-win for both you and your client as you are paid on a percentage of the recovered dollars.
Workers’ compensation premiums are a significant company expense. In fact workers comp is often the third most expensive line item in a company’s P & L. Our Work Comp Premium Audit program evaluates up to the last seven years of a company’s policies and premium calculations to determine if the correct amount of premiums had been charged.
Our audit team has over fifty years of combined experience in workers’ compensation premium matters. The system that determines these premiums is extremely complicated involving many components and entities including rating bureaus, insurance company underwriters and insurance agents. When it comes to establishing appropriate classifications with hundreds of unique business classifications, there is a significant opportunity for a lower rated classification to be applied as they are constantly changing, open to interpretation and are typically determined by insurance company underwriters and rating bureaus. All aspects of the client’s workers’ comp premiums are reviewed including:
- experience ratings (ex-mods)
- payroll audits
- applicable discounts
Many of our recoveries are a result of improperly calculated experience ratings and/or the erroneous application of experience ratings.
Most companies do not realize that the workers’ compensation insurance company’s payroll auditor that performs the annual audit is not there to determine if your client has been overcharged (that auditor is either an employee or contractor of the insurance company to conduct the audit).
Our professional auditors are familiar with individual states insurance statutes along with rating bureau rules and regulations that affect how workers’ compensation premiums are computed.
Upon completion of our analysis, a written report is provided to the client documenting the overcharges, including supporting documentation needed to recover the overcharges. We will even do the collections as we do all the services.
Waste disposal is necessary. Everyone needs it and just about every business in America has a waste bill. Approximately 80% of companies overpay in their waste expenses. Our Waste Management Audit Service lowers monthly expenses for solid waste, medical waste, and recycling disposables by finding errors, overcharges and other cost reduction opportunities without switching their current vendor.We simply evaluate the client’s invoices, service agreements, equipment, current service levels, and pricing structure. We have a team of experts in this field with many years of experience. This program yields high savings for your client. We believe that it’s important to keep long-term relationships with clients; instead of evaluating their expense once, we continually evaluate and monitor their expenses for three years, providing you residual income throughout the term.
These have significant demand given the extensive business use of smartphones and tablets on cellular networks. Invoices from wireless companies often include overcharges and unnecessary fees. When is the last time you looked at your cell phone bill and understood the fees and various charges? Most companies do not have the time or detailed wireless knowledge necessary to correct them and therefore simply pay the presented bill.
Our Wireless Audit Program reduces the client’s wireless bills for 24 months and we do not switch carriers. The review addresses errors, overages, and other fees to optimize the client’s account with their existing carrier. This program pays a residual to the advisor monthly.
Parcel Audit Program
Most companies are unaware that they are often overcharged for shipping services. Companies receive their monthly bill consisting of hundreds of pages of shipping invoices and have difficulty attempting to review for errors. Our Parcel Audit Program audits a company’s parcel costs via their primary carriers; usually FedEx and UPS.
Objective decisions require objective data, and with our solution, that’s where it all starts. We connect our trusted and proven cloud-based software to your client’s parcel accounts in minutes, importing their electronic invoices from your client’s carrier and extracting critical data to help identify savings opportunities. With this data in hand, you’re clients are able to make objective decisions about their parcel shipping costs—and we’re able to request refunds to recoup those costs.
The process is quick, simple, and requires no work on your clients part—and since your client is only billed based on a percentage of refunds secured, it’s no risk to your client. Your client has access to your online carrier account, we’re able to easily and quickly connect our proprietary software, automatically importing invoices and identifying possible refunds based on a multi-point audit including late deliveries, invalid surcharges, incorrect dimensional and weight charges, and more.
Recouping parcel costs isn’t about placing blame—it’s about holding parcel carriers accountable to their promises. And that’s how Data helps your client. Our process is so simple that we’ll be auditing your client’s invoices by end of day.
In addition to the savings generated by the refunds, clients save, on average, 11% of their annual FedEx/UPS spend through our optimization without switching or changing a thing.
We find clients monthly savings, and you get paid monthly for the life of the client. This program is a month-to-month engagement however it is so highly effective that it has over a 90% client retention rate.
Credit Card Audits
We do NOT switch merchant providers like everyone else. We keep the client with their current processor. Merchant Account Audits is one of our very popular services because almost every company has a merchant account. Why? Because business owners are not aware that there are over a 1000 different fees that make up their interchange rates. We audit’s a clients bill and like the other expense reduction services we only bill on savings and monitor their waste bill every month in moving forward. Businesses acknowledge that processing credit cards is a substantial monthly expense. Business owners are solicited daily with telephone calls by sales agents trying to switch and save their merchant services processor with the promise of lower costs. Most businesses have tried switching their processor for lower fees only to find that within six months they are back paying at the same level they were with the previous carrier.
The merchant processing industry is intentionally complex. Businesses are presented confusing monthly statements. There are literally a thousand different fees that make up interchange rates, no company an be on top of a thousand different fees. Which includes various and ever-changing payment processing fees, discount rates, transaction fees, and surcharges to name a few. Without an informed and unbiased insight, a business can easily fall victim to unfair pricing and pay larger than necessary fees to process credit card payments.
We act as a third party auditing agency that reviews and audits the business’ merchant account, and lowers their credit card processing costs by eliminating overcharges. We analyze the business’ account, and then working with the merchant services provider we lower the processing fees. To insure the business’ fees do not rise we carefully monitor their account every month for three years and constantly recover any overcharges. After providing merchant statements, your client will receive a professional 11 point audit report within three business days outlining exactly where we will reduce their fees and in addition, your client will receive a report every month automatically.
Our credit card audit and subsequent payment optimization solutions, on average, save businesses over 21% on processing fees.
This program has nearly 100% success rate in identifying savings, if we find no savings, there is no fee.
Advisors earn a residual monthly income for at least three years with this program.
Utility Bill Audits
Utility charges are some of the most complicated fees a company will pay. This complexity often leads to potential errors. Hidden costs, overcharges resulting from billing errors, charges for nonexistent services, and complex billing codes could be increasing your utility bill every month. Many of these issues are overlooked indefinitely. We know the various methods that utility companies use to overcharge their client and excel in identifying billing errors, recognizing overcharges, helping you reduce your utility costs, and obtaining any possible refunds available. Our team of energy auditors, accountants, and attorneys work together to find errors and reduce your utility bill. We take care of everything from working with the utilities to filing all the paperwork. Additionally, we verify all billing errors have been corrected, all adjustments have been made, and all refunds have been issued. Consider for a moment that a $10 billing issue applied daily equates to more than a $3,600 loss from your bottom line each year. Our Utility Audit specifically analyzes your utility bills such as gas, electricity, sewer and water looking for discrepancies, irregularities, and errors. We can go back as far as 48 months, depending on the state, and will setup an ongoing process for continual optimization of your savings. Once we identify savings, we handle all the negotiations to secure your refund and ongoing savings.
Electric Energy Auction
Energy deregulation in the U.S. makes it possible to lower the cost of electricity you get from your supplier in many states. Benefits of our reverse auction model for your business is a 10-20% savings gain with pricing transparency. 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 electrical 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.
This service pays every month for as long as the client is on the service.
Zero Cost Credit Merchant Services (Credit Card Processing)
For any business that accepts payment for goods or services by credit card, they can now recover back 1% to 4% of their gross sales amount by no longer having to pay for the merchant service processing charges of the transaction.
In the wake of the $5,000,000,000+ class action law suit against the big names in merchant services comes a solution to prevent future overcharging, specifically…don’t be charged at all!
THE RULES HAVE CHANGED for accepting credit cards. Advances in technology, combined with most states in the country which have now approved this, means that companies that sell their goods or services can now apply any merchant processing fees of processing credit cards as a fee to the buyer at time of sale. This is only for processing credit cards, and does not apply to debit card transactions (which have a significantly lower processing cost).
Our special team handles everything needed to properly set up the business to take advantage of this new change, from technology, to disclosure signage, to training of the client and their staff.
Once the client’s company is on this new system the only difference they will notice is an additional 1% to 4% added to the profits of credit card sales.
This is a unique service which is just starting to emerge as an option for businesses in the United States. The advisor is paid a residual income on each business every month they are processing credit card transactions. You are paid off the transactions not the savings!!! Imagine being able to say to your client, “You know those merchant processing fees you have to pay? You don’t have to pay those anymore”. Business owners now have the option to not have to pay merchant processing fees. So we can either lower clients credit card processing fees with our credit card audit program above or with Zero Cost Credit Processing we can eliminate their fees so either way you and your client win.
Accounts Payable – Virtual Payments
Up until now, the cost of operating a company’s accounts payable function, has been a necessary expense. After all, no one could expect the department that is responsible for making payments, to also generate revenue. That is, up until now.
For businesses that manually process hundreds of invoices each week, the benefits of transitioning to virtual payments is huge. Virtual payments, is not only easier, than checks and ACH, it’s faster. And added speed ultimately means added savings.
Our FREE automated virtual payment solution works with an organizations existing accounting software, streamlines their current procedures, and not only saves: time, money, and paper, but actually pays them a rebate for each virtual payment made.
Our Virtual Payment platform works with their existing accounting software, and there’s no need to change banking relationships. Virtual Payments will save their organization both time and money, and Virtual Payments pays them revenue for every transaction. How much revenue? Every $10 million in Virtual Payments could add $135,000 in additional revenue to their bottom line.
Businesses have to pay your suppliers anyway, so why not turn their Accounts Payable into additional revenue.
Advisors are paid a residual income, on each business, every month they are using virtual payments. You are paid off the transactions not the savings!!!
Copier & Printer Lease Audits
A staggering 98% of businesses that lease copiers and printers are overpaying on their leases.
We have been successful in saving businesses an average of 57% on their copier leasing and document costs.
Advisors obtain a scan of one or more leases for a free report, our industry experts remotely review this free report card with the business owner or CFO, and we have an 80% success rate of obtaining a signed agreement on this remote meeting.