What is it going to cost our firm?
Our auditing of your FedEx bills is strictly on a contingency basis. We charge 50 percent of what we recover for your firm, which is only one-half of the funds you are not recovering now. There are no software costs, set-up, or monthly fees. If we do not recover any credits, we do not send an Audit Associates invoice that would normally accompany your other weekly reports.
Are there any Agreement Forms or contractual obligations?
We do have a simple agreement that authorizes FedEx to send your weekly FedEx invoices electronically to Audit associates. It also allows us to request credits from FedEx on your firm’s behalf. This agreement is basically a day-to-day agreement that says, should you choose to stop the audit process, you simply call us and we stop auditing immediately. FedEx will return to mailing your FedEx bills directly to your firm.
How will this reflect on our relationship with FedEx?
It will have no effect whatsoever. The amount of savings for FedEx in terms of paper, postage and labor far out weighs the credits being returned to their customers. They offer the Money Back Guarantee because they want your business and they know that most of the time, they deliver your packages within the scheduled time frame. However, when the packages are late and the refunds are not pursued, FedEx does keep your money.
Why can’t we recover these service failure credits ourselves?
You can and you should. Your firm has a contract with FedEx that includes a Money Back Guarantee based upon scheduled delivery times. Most firms never claim these guaranteed credits because they:
1. Do not have enough time.
2. Do not have enough staff.
3. Do not have the knowledge of what constitutes a FedEx service failure.
4. Feel it is too much of an administrative hassle.
Is there a specific dollar amount that we can expect to save?
No, but there is a percentage range of savings that our twenty one years of experience in auditing FedEx bills suggests, and that is somewhere between 5 and 10 percent of your annual FedEx expenses. How and where you ship your packages will determine the actual savings.
Is there any other benefit to your service?
Audit Associates discovered years ago that not only could we recover “Lost Profits” for our clients but, if we went one more step, we could “Increase Productivity”. How? By organizing the FedEx bills for Accounts Payable in a format compatible with their processing. Our clients tell us that using our reports saves them anywhere from 40 to 60 percent of the time they previously needed for the FedEx expense allocation process. Our clients receive a weekly package sorted, summarized and ready for allocation. We know that our service offers a significant labor savings for our clients, and the best part is that it is an absolutely free part of our service