Recover costs from historical billing errors
Utility invoices and bills are often complex and can contain errors that can go undetected. As a result, many businesses end up paying extra charges without realising it. Over time, numerous historical errors can add up, leading to significant overcharges.
Conducting a thorough forensic audit of your utility spending can help identify any errors or overcharges in your invoices, which can be used to recover money from your suppliers. The statute of limitations allows for the historical recovery of errors for the last six years.
What are the benefits of a revenue recovery audit?
Trident's revenue recovery team has recovered £100 million in lost revenue for our customers since 2001. Recently, we've been involved in a project with the education sector whereby we uncovered a number of significant anomalies relating to their utility bills, mostly relating to charges passed through the distribution network.
These don't always appear on bills, and so are often missed by in-house or outsourced bill validation/checking services. We've seen substantial refunds for many of the facilities involved, in some cases totalling more than 10% of annual spend. For one particular College, we found savings equivalent to 25% of their total budget.
More recently we have rolled this out to many large public and private sector organisations and in approximately 70% of cases we’ve looked at we’ve found similar errors. Whilst we can’t say with 100% certainty that you will have experienced the same errors we think it’s highly probable and certainly worthy of further investigation.
in lost revenue has been recovered for our customers since 2001.
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