Banks love their fees, and they make a lot of money from them. However, a bank fee audit can identify how much of your cash flow is consumed by these fees. At Util Auditors, LLC, we can conduct an audit on your accounts to help you save money on bank fees and improve your cash flow.
Bank Fees
Overview
After receiving an initial bank fee analysis for each bank relationship from the organization, we communicated with the bank representatives to obtain additional data.
In addition to the application of proprietary knowledge and methods, the following bullet points outline some of the steps performed throughout the detailed audit process:
- Thorough review of routine bank maintenance fees including cash orders, deposit tickets, bag processing, lock box arrangements, wire transfers, ACH transfers, pickup and delivery fees, back credit, and more
- Complete analysis of service levels, as well as asset allocation to identify potential for a lower cash-carrying cost
- Identification of unused accounts and services
- Potential opportunities for aggregation of services to reduce overall costs
Our Process
Consult
Access 16 cost-saving solutions spanning 4 subcategories (Utilities, Contract Services, Financial Services, and Commercial Real Estate). There is often one, or more, areas in which we can aid our clients.
Audit
Util Auditors deploys proprietary knowledge, methods, and superior technology to thoroughly analyze invoices and services for errors, anomalies, and inefficiency in billing. Clients can login to track the progress of each audit, at each location, in “real time” using our Client Portal.
Advise
An interim report of findings can be downloaded at any time during the audit process through your uView™ Dashbard. A formal report of our audit recommendations is provided by Util Auditors on every audit project.
Deliver
Where some audit firms simply make recommendations, Util Auditors will assist you to implement the cost savings and obtain the refunds that we identify. We will act as your project lead, completing paperwork and compiling claim documents for your review that are required to realize the benefit of what we propose.
Achieve
As a contingency-based service we only invoice for cost savings and refunds if, and after, the client realizes them.
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Services You Can Trust
At Util Auditors, we are passionate about serving our clients, increasing operating efficiency and cutting costs. We treat each client the same to identify cost saving opportunities, and provide the absolute best solutions. It is this consistency and commitment that allows us to continuously exceed the expectations of our clients.
We have provided cost reduction services as well as utility refunds to over 275 clients including Fortune 100 and 500 companies.