How does FOCUS Financial Coaching earn its fee?
FOCUS Financial Coaching works exclusively on a contingency basis with its business clients. We are paid strictly on results as a percentage of the savings actually realized. The client has no obligation at all unless our cost saving recommendations are approved and implemented. Once a recommendation becomes fully implemented, fees are typically paid on a monthly basis as the client realizes the actual savings.
By retaining FOCUS Financial Coaching, will this disrupt our day to day business operations? In addition, how much time and resources will I have to invest into the process?
No. FOCUS Financial Coaching’s approach is non-intrusive. In fact, most of our work is conducted off site. We require almost none of your employee's time beyond the simple task of pulling a few sample invoices or contracts for specific products/services for our review. On many engagements it is as simple a task as making a copy of your monthly phone bill, or sending a form letter to a major vendor requesting a "usage" report itemizing your purchases from them. Any legitimate supplier will gladly supply you with the information we need.
What kind of information does FOCUS Financial Coaching need to begin its work?
Typically, the client runs a year-to-date vendor report by spend. This acts as a guide when reviewing expense categories and qualifying projects with the client.
What will FOCUS Financial Coaching do for us after implementation of your recommendations?
After implementing our solutions, we will audit the billings from your suppliers and continue to seek to reduce your costs further. This process will continue for the entire length of our agreement with you.
Will FOCUS Financial Coaching contact our suppliers?
Yes, but only after a proper introduction is made by the client. During the analysis component of the process, FOCUS Financial will likely need to contact the supplier to get specific information pertaining to the account. Also, we will likely engage in negotiations with the supplier. We will negotiate on your behalf to reduce your costs while allowing you to still maintain a good relationship with that supplier.
What happens if we choose not to accept a cost saving recommendation?
The client won’t save money and FOCUS Financial will not earn a fee. It is ultimately the client’s choice whether or not to accept our recommendation. However, in over 90% of cases, the client does implement the recommendation and cost savings are realized. This is primarily because we are very selective in the cases we take on. If we choose to work with a client it is because we have prequalified their situation as a very viable cost savings opportunity.
Who selects the expense categories to review?
The client has the ultimate say. However, FOCUS Financial Coaching usually suggests where the best opportunities likely exist. Normally, the client and FOCUS Financial mutually agree on what expenses to evaluate.
We have people internally responsible for finding the lowest costs. Why do you think you can improve on the job that we already do?
The fact is that most businesses are moving too quickly to focus on every little detail. Our clients are experts in their respective businesses and usually have quality suppliers in place for all core functions. When it comes to the non-core functions, however, there just is not the same attention paid or in-house expertise in place to manage these non-core overhead costs. We are experts in non-core overhead costs and this is where the bulk of our savings typically come from.
Every company wants to improve their profitability. Finding more revenue or growing margins is hard. Allowing FOCUS Financial Coaching to analyze your current cost structure and reduce unnecessary spending is easy.
Don’t keep spending away your hard earned profits. Call us today for a free consultation.