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64% cutback on payroll processing fees

New York tax and financial planning company finds extra profit

A company that provides tax services and financial planning to its clients spends $86,000 annually on payroll processing costs. Expense Reduction Analysts was brought in to look at ways to reduce this cost.

Analysts extracted data from the year-end invoice and the two most recent monthly invoices to understand the client’s seasonal usage patterns. During the invoice review, our consultants discovered that the client was paying for services they
Project Information
  • Category - Payroll Processing
  • Annual Spend - $86,000
  • Annual Cost Savings - 64%
  • Hidden Savings - $57,400
were not using. Detailed Requests for Proposals were sent to four payroll processing companies.

Based on the RFP results, our consultants recommended that the client switch to a new provider with lower negotiated rates. Upon approval from the client, ERA worked with the new vendor, implemented the new service, and is closely monitoring compliance to ensure the maximum savings are realized.

The client invested a mere six hours on this project and saved $57,400 annually.
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