Q: Our internal control is very strong. Why should I think you will find any payable system errors?

A: You are likely in very fine shape. However, we have never failed to recover profits for any client. You have nothing to lose by engaging Consortium Three.

Q: Why Consortium Three? Are you as good as other profit recovery firms?

A: Consortium Three has a long history, over 20 years in fact. There are firms both larger and smaller than ours, but very few who can match our success rate and the caliber of our talent.

Q: What’s really in it for us? Sooner or later, we would likely find our own mistakes anyway!

A: Ours is really a win-win proposition. If you think you know about problem vendors and potential mistakes, exclude them from the scope of our audit. It is likely that mispayments and many duplicate payments will never be found, overpaid taxes never refunded, and discounts earned but not taken, never honored.

Q: What is your recovery rate?

A: All across the board, but always profitable for you. We deliver in a range of $1 for each $1,000 to as little as $1 for each $10,000 reviewed. The major variables are client controls, age of claim, availability of records, and client support.

Q: Tell me about your staff? What are their credentials?

A: Our staff is seasoned, mature, diplomatic, and bright. You will quickly discover that C3 people are masters at their trade of screening records, identifying suspect transactions, asserting the claim, and recovering the money. They average 15 years of combined business and accounting experience.

Q: You are auditors, looking to identify our internal errors. I’m not sure my staff will feel comfortable with your efforts.

A: We understand. But we assure you and your staff that overpayments will happen due to the transaction-intensive environment in which they work. Successful profit recovery is generally not an indication of failure or loose controls. Rather, it comes from our intimacy with tax structure and statutes, software systems and shortcomings, vendor practices, and a unique electronic audit discipline.

Q: What are the terms of your engagement?

A: We will execute a contingency fee agreement which sets the terms and scope of the audit. We will exclude specified vendors and ongoing work and use extracts of your payables files and vendor master. Only after we recover profit and the money is in the bank or you have a negotiable credit in hand, will we bill you a percentage of the proceeds.

Q: Who are your clients?

A: We do not publish a complete client list; it is extensive and proprietary. At the same time, we do have a partial reference list which will be made available on request.

Q: Do you guarantee your work?

A: Absolutely! We stand behind all recoveries and provide the documentation as part of our invoice detail. Additionally, there will be times when we make tax recommendations which may cause the client to petition for recoveries from vendors or government entities. Should any action so initiated be reversed, C3 stands ready to refund any moneys paid. In fact, this has never happened in the history of the firm.

Q: You say the engagement is a win-win proposition, but even as we split the proceeds, you will require time from my staff. We are very busy and I can’t afford distractions.

A: We understand completely. Other than the time we need from your IT manager to secure data extracts and a kickoff meeting with the A/P Supervisor, your staff time will be kept to an absolute minimum. We guarantee it!!!

Q: What is your reputation with Departments of Revenue?

A: Extraordinary. We have a very strong reputation with the Colorado Department of Revenue and 95% of our claims are successfully refunded with interest. We are on a first name basis with a number of department auditors.

Q: When you submit claims for refund on our behalf, will it trigger a retaliatory audit by the state?

A: This is a common myth which is a misconception. The state cycles through their audit list every three years. They have neither the inclination or the resources to try and offset every client refund we submit.

Q: What do you need for support?

A: Our needs are simple: a workplace, telephone, and fax access. We prefer to be located close to hard copy payables files and request payables software access via inquiry mode only. If data is stored digitally, we need access to the retrieval system. We prefer one direct contact in accounts payable to whom we can go when all else fails.

Q: How will I know about the audit progress?

A: C3 keeps highly detailed notes and documentation files. Chief among them is the claim sheet on which valid claims are recorded. At least weekly or more often if desired, you will be briefed on our findings and recommendations. You will be invoiced only after claims are in hand.